Latin AmericaLatin America
The World Bank expects to loan some 14 billion US dollars to Latinamerica this fiscal year, or almost three times what it lent in 2008, the bank's Vice-President for Latinamerica and the Caribbean, Pamela Cox told a conference call with reporters.
The Venezuelan city of Cumana is hosting the summit of the Bolivarian Alternative for the Peoples of our Americas (ALBA), one of the newest regional cooperation initiatives created by Venezuelan president Hugo Chavez. The meeting takes place hours before the Summit of the Americas in Trinidad Tobago.
Transits of the Panama Canal slipped 1.4% in the Canal’s second fiscal quarter, according to the Panama Canal Authority (PCA). A total of 3,914 ships passed through the Canal from January through March.
United States president Barack Obama wishes to meet with his peers from the Union of South American Nations, UNASUR next Saturday on the sidelines of the fifth Summit of the Americas in Trinidad Tobago.
Chile’s Valparaiso port authorities confirmed that 15 cruise voyages that were planning to visit the port next season have now been suspended. Making matters even worse, vacation cruise companies Celebrity Cruises, Royal Caribbean and Discovery confirmed they no longer plan to dock in Chile because of high operational costs.
Former Cuban leader Fidel Castro said on Tuesday Cuba had no desire to rejoin the “infamous” and “vile” decadent Organization of American States, and said the coming Summit of the Americas next week end in Trinidad Tobago will be “a test of intelligence and shame”.
Bolivia is forecasting a 17% fall in its hydrocarbons tax and royalties revenues because of the fall in the international price of gas and oil sold to Argentina and Brazil according to official reports.
Colombian state-owned oil company Ecopetrol S.A. said Tuesday it signed an agreement with US-based Anadarko Petroleum Coporation to explore for crude oil off the coast of Brazil. Ecopetrol's subsidiary in Brazil will hold a 50% stake in block BMC-29, the company said in a statement.
The Peruvian government defended its offensive against the remnants of the once-powerful insurgency “Shinning Path” as armed forces searched for a soldier reported missing following rebel ambushes that killed more than a dozen people last week.
United States President Barack Obama heads to Mexico Thursday and then continues on to Trinidad and Tobago for the fifth Summit of the Americas. Security concerns along the US-Mexico border are expected to top Mr. Obama's discussions with Mexican President Felipe Calderon, while the summit provides an opportunity to reinvigorate the US hemispheric ties and forge a regional response to the global economic downturn, according to a Voice of America report.