Latin America

Latin America
Monday, July 7th 2014 - 23:53 UTC

Sao Paulo metro will have 'ladies only' wagons given sexual harassment complaints

Similar legislation has been effective in Rio do Janeiro since 2006

The Sao Paulo Legislative Assembly has approved a bill making it mandatory for regional train and underground companies of have 'pink' wagons, exclusively for ladies at rush hours.

Monday, July 7th 2014 - 23:09 UTC

ECLAC sides with Argentina; calls for Collective Action Clause for sovereign debts

If Argentina were forced to declare a default, no creditors would get paid. If Argentina opted to pay, it could end in another default, argued Barcena

The Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC), Alicia Bárcena, has sided with Argentina in the holdout hedge funds litigation arguing on the need to establish an international mechanism that would allow for the resolution of conflicts of interest caused by sovereign defaults:

Monday, July 7th 2014 - 07:26 UTC

Uruguay Vice-president and Latam UN ambassadors claim US justice took sides

Astori said that the current situation is a disastrous precedent for countries wishing to comply with debt commitments

Latin American ambassadors to the United Nations (UN) and Uruguay's Vice-president Danilo Astori showed their support to Argentina in its dispute against holdout hedge funds. They agreed that the so-called 'vulture funds' are a risk to debtor nations and that they pose a threat to the region.

Monday, July 7th 2014 - 07:10 UTC

Lagarde cautious about growth momentum; infrastructure investment needed

Lagarde said that the IMF did not expect a “brutal” slowdown in China, a market crucial for Latin America

Global economic activity should strengthen in the second half of the year and accelerate in 2015, although momentum could be weaker than expected, IMF chief Christine Lagarde said, hinting at a slight cut in the Fund's growth forecasts.

Saturday, July 5th 2014 - 09:32 UTC

Moody's confirms Peru as one of South America's strongest economy

Minister Ghezzi pointed out that Peru had become one of the countries with “the lowest credit risk in the world”.

Peru's sustained macroeconomic performance has been recognized through the recently announced upgrade to A3 of its sovereign debt by Moody’s Investors Service. According to the credit rating agency, Peru' government debt was lifted two notches to A3 from Baa2, with a stable outlook for the economy.

Saturday, July 5th 2014 - 09:26 UTC

Peru Interior minister accused of killing a journalist in 1988; refuses to resign

The former military officer Daniel Urresti has the support from President Humala (L)

Peru’s newly named interior minister has acknowledged being formally accused of murder in the 1988 killing of a journalist when he was a young army intelligence officer fighting Shining Path rebels. But Daniel Urresti faced reporters and proclaimed his innocence and said he had no plans to resign.

Saturday, July 5th 2014 - 09:13 UTC

Uruguay's inflation index for June slightly down: 9.08% in twelve months

July could be a month of surprises but the power company, government owned has anticipated rates will be down 5.5% because of abundant rainfall

Uruguay's inflation index experienced a slight deceleration during the twelve months to June, from 9.18% in May to 9.08%, basically because of cheaper fresh food, frozen public utility rates including fuel, while a stabilized exchange rate for the US dollar with a strong Peso, helped with imported goods.

Saturday, July 5th 2014 - 08:48 UTC

The Economist on Argentina: “The Luis Suarez of international finance”

 Viveza criolla has been a hallmark of Argentine economic policy under both President Cristina Fernández and her late husband and predecessor, Néstor Kirchner.

In its latest edition The Economist writes about Argentina’s debt stand-off, and states this “reflects a teenage attitude that rules are there to be broken”.

Friday, July 4th 2014 - 06:00 UTC

OAS supports Argentina on hedge funds issue; Timerman regrets “US attitude”

Timerman said he appreciated solidarity and commitment from the region but ”I do not quite understand the US’s position”

The Organization of American States (OAS) voted on Thursday to support Argentina’s position against holdout investors, as well as expressing concern over what the entity called “the behavior of speculative agents that affect global financial stability.”

Wednesday, July 2nd 2014 - 08:00 UTC

Uruguay presents Foreign minister Almagro as OAS Secretary General candidate

Almagro has been foreign minister since Mujica took office in 2010

Uruguay has presented the candidacy of its current Foreign minister Luis Almagro to succeed Jose Miguel Insulza as head of the Organization of American States, OAS Secretary General, it was reported on Tuesday from Montevideo.

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