Latin America and Caribbean countries will grow 1.1% on average in 2017 after two consecutive years of contraction, thanks to an international context that shows improved growth expectations despite geopolitical risks, and better prices for the commodities that the region exports, according to a new annual report that ECLAC presented on Thursday in Santiago, Chile.
Ecuadorean President Lenin Moreno stripped his vice president of his authority Thursday over corruption allegations that emerged amid a battle for power within their ruling leftist coalition. In a signed decree, Moreno said he was withdrawing all the tasks that had been assigned to Vice President Jorge Glas since both took office in May, which included overseeing a production council and earthquake reconstruction.
United States president Donald Trump urged the Mexican president to stop publicly saying he would not pay for a proposed border wall, according to transcripts. Mr. Trump admonished Enrique Peña Nieto for publicly denouncing the wall during a 27 January phone call, transcripts obtained by the Washington Post show.
New World Health Organization, WHO, data from 28 countries - representing approximately 70% of the global hepatitis burden - indicate that efforts to eliminate hepatitis are gaining momentum. Published to coincide with World Hepatitis Day, the data reveal that nearly all 28 countries have established high-level national hepatitis elimination committees and more than half have allocated dedicated funding for hepatitis responses.
Exxon Mobil said that it has discovered additional oil in the Payara reservoir offshore Guyana, increasing the total discovery to approximately 500 million barrels oil equivalent. The result increases the estimated recoverable resources in Guyana’s Stabroek Block formation to about 2.25 to 2.75 billion barrels. By way of comparison, the much-heralded Thunder Horse find in the Gulf of Mexico has reserves of about one billion barrels.
Colombia's FARC rebels will officially transform into a political party on September 1, a major step in reintegrating the former guerillas into civilian life as part of a historic peace deal.
President Evo Morales has highlighted the total Bolivian independence from the International Monetary Fund (IMF) and the World Bank (WB), which have carried out “devastating economic policies for many years” in this South American nation.
Mercosur inked a trade deal with Colombia last Friday to allow limited quantities of tariff-free trade in products including automobiles, textiles and agrochemicals, Argentina's and Colombia's governments said.
(*)By R. Viswanathan - For those who think that Latin America is too far and cost of freight is too high and therefore the region should be less important for India’s trade, here is the eye opener from the 2016-17 (April-March) statistics of the Commerce Ministry of India.
The members of Mercosur trade bloc called for an end to violence in Venezuela in a joint statement on Friday. However again opinions were divided: while Brazil and Argentina sponsored a more explicit warning to President Nicolas Maduro and his regime, Uruguay had it redrafted in a more conciliatory tone and Paraguay finally came out with a compromise option.