Latin AmericaLatin America
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.
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.
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.
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.
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.
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.
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.
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%.
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%.
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.