Latin AmericaLatin America
Brazil's government managed oil company Petrobras said on Friday that it had concluded a deal with Venezuela's PDVSA to construct and operate a refinery in northeast Brazil.
Colombia and the United States signed Friday in Bogotá the controversial agreement that allows US military personnel to be stationed at seven (land, air, sea) military bases in Washington’s closest ally in the region.
The Chilean central bank will likely begin hiking the benchmark interest rate, currently at a record low 0.5%, in the second quarter of next year, according to the minutes of its October monetary policy meeting released Wednesday.
The de facto Honduran government has agreed to an eight point deal that may allow ousted President Manuel Zelaya to return to power ahead of elections next month. Unite States diplomats have been in the country to mediate an end to the four-month-old crisis.
Still hurting from a yearlong drought, Argentina is turning to Chile for wine imports in order to keep up with popular demand for wine.
President Dmitry Medvedev called new arms and energy deals between Russia and Ecuador just a beginning as Moscow strives to deepen ties in Latin America. Medvedev and Ecuadorean President Rafael Correa announced a 22 million US dollars deal for Russia to provide Ecuador with two Mi-17 transport helicopters.
Ecuador is to pay royalties to the holders of international pharmaceutical patents, basing the payments on the sale price of locally produced medicines, the Ecuadorian Institute of Intellectual Property, or IEPI, said this week.
Relations between Argentina and Chile are going through an optimum moment and once we drill through the Andes, “ghosts of the past will definitively have gone”, said Argentine president Cristina Fernandez de Kirchner during the first of her two day visit to Chile.
“Central America and the Caribbean, historical sugar-producing economies where the sugar-ethanol infrastructure already has a foundation, labor costs are low, and the political conditions are more or less stable– offers the best near-term potential for large-scale sugarcane ethanol production. This is a market opportunity which Cuba, with the longest experience of sugar–ethanol and sugarcane derivates production in the region, is positioned to take advantage of”.
The New York Times dedicated an article to Chilean President Michelle Bachelet whom she describes as among a handful of Latin American leaders, including President Lula da Silva of Brazil, whose handling of the crisis has strengthened their popularity.