Revelations of a several times surge in the personal wealth of Brazilian government's influential chief of staff have triggered controversy and could drag on and become a major headache for President Dilma Rousseff.
By Andres Velasco, Former Finance Minister of Chile.
The Inter-American Development Bank declared last July that this would be “Latin America’s Decade.” A couple of months later, The Economist endorsed that idea, which has since been repeated by countless apologists and experts.
Uruguay’s sound economic and stable political environment were underlined by the country’s Deputy Minister for Public Works and Transport during a high level business forum to attract investors to Latin American which was held in the capital of South Korea, Seoul.
While Argentine and Brazilian officials are involved in a ‘constructive dialogue’ to overcome trade disputes the head of the powerful Sao Paulo Federation of Industries, FIESP, Paulo Skaf said that Argentine Industry minister Debora Giorgi tends to “over-cry” the restrictions imposed on car imports to Brazil.
The world’s largest beef producer, Brazil’s JBS announced its board agreed to boost its capital by as much as 3.48 billion Real (2.15 billion US dollars) through a private placement with Brazil’s state economic and social development bank.
Current trade negotiations between the European Union and Mercosur dominated the opening speeches at of Eurolat (Europe/Latin America Parliaments) Fifth Plenary Session which is taking place in Montevideo.
The following piece by Jude Webber writing for the Financial Times explains the different approach by the two neighboring countries to the windfall earnings of the commodities boom.
The IMF warned Greece it must redouble reform efforts to avoid derailing its fiscal program, key to dealing with a huge debt mountain.The sternest IMF warning since a 110 billion Euro EU/IMF bailout a year ago pulled the troubled Euro zone member back from the brink of bankruptcy was delivered as European officials raised the possibility of a Greek debt restructuring.
Brazil’s Finance Minister Guido Mantega said dollar inflows into the country have returned to a “reasonable” level, after the government took steps to stem a flood of foreign money.
China has started rationing electricity to try and stave off an energy shortage that government officials say could be the worst since 2004. State-owned power generating companies are dealing with high global energy prices that have cut their profits.
China has also banned the export of diesel, to try to meet domestic demand.