Latin AmericaLatin America
Rafael Correa, the Ecuadorian president, and Hugo Chavez, his Venezuelan counterpart, have entered into an agreement to build the biggest oil refinery on South America's Pacific coast.
Chile's Central Bank raised its target interest rate by 50 points last week to 7.25%, the highest level since February 1999. Citing the need to pull back inflation to its 3% policy goal, the bank raised the monetary policy rate (TPM) for the third time in 2008.
Although there's no official confirmation from world pop star Madonna's office about the dates of her South American tour next December, local representatives activities give a clear idea of what her schedule could be.
President Raul Castro warned Cubans on Friday to prepare for a realistic brand of communism that is economically viable and does away with excessive state subsidies designed to promote equality on the island.
In the immediate future, Latinamerica must invest between 150 and 200 billion US dollars a year in infrastructure in order to boost economic growth and reduce poverty, World Bank Vice President, Pamela Cox said in Lima, Peru.
President Hugo Chavez of Venezuela and his Colombian counterpart Alvaro Uribe signed several agreements to promote closer ties, after months of political tension.
Colombia guerrilla group FARC said on Friday it was betrayed by its own men in last week's military rescue of the former Colombian presidential candidate Ingrid Betancourt and 14 other hostages that added to a string of recent setbacks.
One of Chile's most modern frigates, Almirante Riveros left this week for San Diego and Hawaii o join a multinational force that will be taking part in the Rim of the Pacific, RIMPAC 2008 naval exercises, which is considered the largest operation of its kind in the world.
Venezuela and Colombia presidents Hugo Chavez and Alvaro Uribe will be meeting Friday in Paraguaná, 500 kilometers from Caracas for a new start in bilateral relations following months of accusations and recriminations.
Ecuadorian Finance Minister Fausto Ortiz resigned on Tuesday after the government of president Rafael Correa seized two television stations, --which is announced it will manage temporarily--, and almost 200 other businesses in a dispute over debts stemming from a 1990s banking crisis.