Latin AmericaLatin America
Latam's low indebtedness level opens the way for anti-cyclical fiscal policies to spur economies, says ECLAC
Latin America's public debt decreased in the last 25 years, according to a report from the Economic Commission for Latin America and the Caribbean (ECLAC). External public debt fell from 70% to 16% of the region’s GDP highlighted the fiscal analysis of the region, rising to near 40% when domestic public debt is added to calculations.
Bolivia has named its first woman army general, the daughter of the military commander who led the final operation against Che Guevara, the state news agency said Monday.
Brazil and Mexico announced the renewal of vehicle quotas for four years, delaying the implementation of a free-trade agreement between the two countries. Under the new agreement, Brazil and Mexico will permit $1.56 billion of duty-free vehicle imports for the first year of the agreement. That amount will rise 3% each year until the agreement expires, in 2019, when they’ll return to a free-trade regime.
Poverty affected 28% of Latin America’s population in 2014, revealing that its decline has stalled at around that level since 2012, while indigence rose to 12.0% from 11.3% during the same two-year period in an overall context of economic deceleration, according to the projections from a study released by the Economic Commission for Latin America and the Caribbean (ECLAC) in Santiago, Chile.
Peru said it was withdrawing its ambassador from Chile, amid an intensifying diplomatic spat that was sparked by accusations of military espionage. The Peruvian government is prosecuting two non-commissioned officers in its navy and investigating a third for allegedly spying for neighboring Chile.
Colombian government and Marxist oriented guerrillas jointly announced an agreement to remove landmines and other explosives from the battlefield in a sign of progress in their two-year-old peace talks being held in Cuba.
Mercosur as a unified space has failed and Argentina must start thinking in a new partner, which could be the Pacific Alliance said one of Argentina's main businessmen with interests in a diversified portfolio, Eduardo Eurnekian. He made the statement on the sidelines of the World's Chambers Federation executive board meeting in Buenos Aires.
The UK and Mexico signed in London a memorandum to further support trade and markets, and advance cooperation between the two countries export promotion organizations, UK Export Finance and Bancomext, Mexican Trade Development Bank.
British Prime Minister David Cameron welcomed President Peña Nieto of Mexico to Downing Street on Thursday afternoon as part of his State Visit to the UK.
Foreign Office minister Hugo Swire underlined the growing links of the United Kingdom with Latin America during the state visit of president Enrique Peña Nieto from Mexico, a country with which he feels a close affinity, and is 'integral to the success of the UK”.