Latin America

Latin America
Monday, October 12th 2015 - 06:16 UTC

Petrobras corruption scandal could reach US$ 5.3bn: “we've only seen the tip of the iceberg”

Lead prosecutor Deltan Dallagnol said that losses to Petrobras itself amounted to some 6.2 billion Reais, but that “this is only the tip of the iceberg.”

Damage from the gargantuan corruption scandal centered on Brazilian state oil company Petrobras could amount to as much as 20 billion Reais ($5.3 billion), a lead prosecutor revealed last week.

Monday, October 12th 2015 - 06:14 UTC

Levy confident congress will finally approve austerity measures to help Brazil's economy

“I have no plans of leaving the government. We still have a long agenda to fulfill that includes structural reforms”, said Finance minister Joaquim Levy

The president Dilma Rousseff administration is geared to “preparing the country to deal with a new international reality”, Brazilian Finance Minister Joaquim Levy told Reuters in an interview on Saturday.

Saturday, October 10th 2015 - 07:11 UTC

Opposition will push for impeachment proceedings against Rousseff next week

PSDB will support an impeachment against Rousseff, said Neves: “we're not the only ones asking Rousseff to step down, 60% of Brazilian are saying the same”

Brazil opposition lawmakers will push for impeachment proceedings to begin next week against embattled President Dilma Rousseff, local media reported Friday. It comes after the country’s top audit court, the TCU, ruled that the government’s 2014 accounts had been manipulated in the run-up to last year’s presidential elections to give a better impression of the economy and sustain spending on social programs.

Saturday, October 10th 2015 - 06:27 UTC

Global Unions call on IMF and World Bank should take recession threats seriously

Burrow said it was ironic that IMF deplores the increase of income inequality and at the same time encourages countries to make labour markets even weaker

Given the Annual Meetings of the International Monetary Fund and World Bank taking place in Lima, Peru, the International Trade Union Conference, ITUC, and its Global Unions partners call on the international financial institutions to adopt policies that counter the global economic slowdown.

Saturday, October 10th 2015 - 06:11 UTC

The Pope’s Subversive Message

The central theme of Francis’ visit was a call for unity. He urged us “to dialogue together, to shorten the distance between us, to strengthen our bonds of brotherhood.”

The following piece by Arthur C. Brooks (*) was published in The New York Times opinion page. It is a strong view on Francis's visit significance for US Catholicism.

Friday, October 9th 2015 - 07:05 UTC

Guyana looks forward to Canadian support in territorial claims with Venezuela

The message was communicated to the diplomat by Guyana foreign minister Carl Greenidge at a reception hosted by the Canadian High Commissioner

The government of Guyana will be looking forward to Canada’s support against the territorial claims by Venezuela even as it seeks to strengthen its ties and bilateral agreements with the state, through new Canadian High Commissioner to Guyana, Pierre Giroux.

Thursday, October 8th 2015 - 10:21 UTC

With Brazil contracting 3%, Latin America's economy will shrink 0.3%, says IMF report

“The downturn in Brazil was deeper than expected,” the IMF said and warned of “significant negative spillovers” in the region.

The International Monetary Fund said today that it now expects Latin America's economy to shrink 0.3% this year instead of growing 0.5%, largely due to a steep recession in Brazil and slumping commodity prices. It would be the first recession for the Latin American and Caribbean region since 2009.

Tuesday, October 6th 2015 - 07:40 UTC

Latin America forecasted to contract 0.3% this year and 0.7% growth in 2016

Growth projections indicate that economies with a growing level of trade integration with China, will register the biggest deceleration.

The United Nations Economic Commission for Latin America and the Caribbean, ECLAC, forecasted a downward trend in the region’s economic activity for 2015 to -0.3% from 0.5%, and estimates that for 2016 growth will be close to 0.7%.

Saturday, October 3rd 2015 - 11:01 UTC

Argentina's incumbent presidential candidate Scioli could just make it in the first round

According to the latest poll released, incumbent Scioli would win 41.3% of voters' support, second placed Mauricio Macri would secure 30.5%

Ruling party candidate Daniel Scioli could win Argentina's presidential election in the first round, after an opinion poll published on Friday showed he had widened his lead over his closest rival. Scioli, the anointed candidate of President Cristina Fernandez, would win 41.3% of voters' support, including his share of projected undecided votes, the survey by Ricardo Rouvier & Associates showed. Second-placed mayor of Buenos Aires City, Mauricio Macri would secure 30.5%.

Saturday, October 3rd 2015 - 06:57 UTC

President Santos confirms Colombian drug lord killed in military operation

“Megateo killed. HUGE BLOW. Congratulations! Criminals are either brought to justice or end up buried,” Santos wrote on his Twitter account.

A wanted Colombian drug lord who had a $5-million price on his head from the United States has been killed in a military operation, authorities said Friday. Victor “Megateo” Navarro, a former guerrilla fighter accused of running a cocaine supply route along the Colombian-Venezuelan border, was first reported killed in August.


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