Latin America

Latin America
Wednesday, September 9th 2015 - 08:10 UTC

No end to Brazil's bad news: two consecutive years of recession ahead

GDP estimates come from the Boletin Focus, a weekly Central Bank survey of analysts from 100 private financial institutions on the state of the economy.

Analysts expect Brazil's economy to contract by 2.44% this year, marking the worst performance since 1990, and inflation will hit 9.29%, the Central Bank said Tuesday. The latest figures represent a downward revision from last week, when analysts expected Latin America's largest economy to contract by 2.26% and inflation to come in at 9.28%.

Wednesday, September 9th 2015 - 07:18 UTC

Guatemala former president to face prosecution for a customs fraud scandal

Judge Miguel Angel Galvez said there was “sufficient evidence” Perez Molina was connected with a bribery scandal known as “La Linea”

Former Guatemalan President Otto Perez Molina will face prosecution for his alleged role in a customs fraud scandal that has rocked the country for months, a federal judge announced on Tuesday. The decision comes just days after Perez Molina resigned from office amid growing national outrage over corruption in the government.

Tuesday, September 8th 2015 - 06:24 UTC

Maduro pledges a comprehensive PetroCaribe plan spanning 2015/2025

Maduro said that without PetroCaribe “our Caribbean would be a Mediterranean,” referring to the refugee crisis in the Mediterranean Sea

Venezuelan President Nicolas Maduro has pledged to build a comprehensive plan for PetroCaribe, in the next ten years, spanning 2015-2025.

Tuesday, September 8th 2015 - 05:39 UTC

Guatemala: Cowboy “Neto” leads on promises to clean the town of corruption

With 97.7% of ballots counted, Morales had 23.95%, against 19.62% for former first lady Sandra Torres and 19.57% for millionaire businessman Baldizon.

A comedian who played a simpleton cowboy who almost became president emerged Monday as the man to beat in Guatemala's presidential race amid disgust over a corruption scandal that felled the outgoing incumbent.

Monday, September 7th 2015 - 09:38 UTC

Argentina and Brazil scheduled to meet Maduro over the border situation with Colombia

On Friday, Timerman and Vieira met with their Colombian counterpart in Bogotá, María Ángela Holguín.

In the margins of the Petrocaribe Summit currently taking place in Jamaica, Venezuelan President Nicolás Maduro will be meeting the foreign ministers of Argentina and Brazil to discuss the border crisis with Colombia.

Monday, September 7th 2015 - 09:25 UTC

Guatemala first results indicate a presidential run-off next October 25

TV comedian Jimmy Morales, who has never held elective office, was leading with 26.5% of the vote.

A former television comic, a wealthy businessman and a former first lady were ahead in early returns in voting for Guatemala's next leader, days after the Central American nation's president resigned over a corruption scandal. With about 51% percent of polling stations reporting early Monday, TV comedian Jimmy Morales, who has never held elective office, was leading with 26.5% of the vote.

Saturday, September 5th 2015 - 06:55 UTC

Unpredictable Sunday: outraged Guatemala goes to the polls and is furious with its political system

Hundreds of protesters outraged over a torrent of scandals that engulfed Perez's administration gathered outside the Supreme Court

Protesters railed on Friday against Guatemala's disgraced ex-president Otto Perez outside his court hearing on corruption allegations Friday, two days before elections that have been upended by his resignation and jailing.

Friday, September 4th 2015 - 10:30 UTC

Colombia says its electrical system is ready for the El Niño phenomena

“The reservoir levels are at around 70%, we have enough water to generate what Colombia needs,” minister Gonzalez told journalists. “We are prepared.”

As neighbors Chile and Peru along the Pacific coast of South America, Colombia announced its electrical system is prepared for the El Niño weather phenomena, which may lead to drought and low reserves at hydro-electric facilities, mines and energy minister Tomas Gonzalez said on Wednesday.

Friday, September 4th 2015 - 09:09 UTC

President’s resignation a step forward for democracy and rule of law in Guatemala says ITUC

Sharan Burrow, ITUC chief said Guatemala is another example of the deep connections between corruption and violations of labor and other human rights”

The resignation of Guatemala’s President Otto Pérez Molina following the issuing of an arrest warrant against him for corruption is a positive step towards strengthening democracy and rule of law there, said the International Trade Union Confederation, ITUC.

Friday, September 4th 2015 - 08:47 UTC

Maldonado swears as new Guatemala president; predecessor in jail

“Guatemalans have been at the center of great moments of change and upheaval in our institutions, mobilized by their disgust with broken systems,” said Maldonado

Guatemala's Congress swore in former judge Alejandro Maldonado as president Thursday as his disgraced predecessor appeared in court over corruption allegations hours after resigning in the face of unprecedented protests.


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