Latin America

Latin America
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.

Tuesday, July 1st 2014 - 23:16 UTC

Could gang violence end Mexico's shale dream?

Mexican President Enrique Peña Nieto's goal is a production of 3 million barrels of oil per day by 2018

Violence in Mexico could thwart hopes of a budding shale boom, as oil and gas companies operating in Texas may think twice about moving south of the border.
Mexico holds an estimated 545 trillion cubic feet of technically recoverable shale gas and 13 billion barrels of shale oil, but progress in developing those resources has been slow.

Tuesday, July 1st 2014 - 10:16 UTC

Mercosur waking up to the significance and impact of the Pacific Alliance

Uruguay's Vice-president Astori has been most vocal: ”Mercosur mustn’t be a terminal station”; we need trade deals with the Pacific Alliance

Mercosur leaders called for dialogue with the Pacific Alliance over its perception that Mercosur is becoming an obstacle to integration and wider growth in the region. Uruguayan Vice-President Danilo Astori seemingly sparked the debate a few weeks ago when he said that “Mercosur mustn’t be a terminal station,” calling for formal trade deals with the Pacific Alliance.

Tuesday, July 1st 2014 - 08:16 UTC

Obama and 'second favorite Michelle' exchange praise at the White House

“The US is our, I would say, our most important foreign investor. We want to continue that path” said Bachelet

President Barack Obama and Chilean President Michelle Bachelet pledged to work together to strengthen the ties between both nations, including projects on energy, education and free trade. Obama met in the Oval Office on Monday with Bachelet, whom he called his second favorite Michelle.

Tuesday, July 1st 2014 - 07:50 UTC

Uruguay received 237 cruise calls in 2013/14 with 409.367 visitors

A busy day in the port of Montevideo with several cruise vessels

During the 2013/14 season, 237 cruise vessels called in Uruguay's two main ports, Montevideo and Punta del Este, with 409.367 visitors, a 6,3% increase in calls over the previous season, according to a report released by the country's presidential web-site.

Monday, June 30th 2014 - 06:44 UTC

Uruguay ratifies Bolivia's Mercosur incorporation; consolidates Atlantic/Pacific corridor

The Mercosur administrative headquarters building in Montevideo

Uruguay promulgated the bill which incorporates Bolivia as the latest member of Mercosur, the South American group made up of Argentina, Brazil, Paraguay, Uruguay and Venezuela. The incorporation of Bolivia should help with the consolidation of a Mercosur Atlantic-Pacific corridor across South America.

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