Latin America

Latin America
Wednesday, December 10th 2014 - 08:19 UTC

Summit supports Argentina in its struggle with bond holders

Leaders reaffirm their solidarity and support for Argentina in a solution which does not compromise its development or the wellbeing of its people

The two-day summit of Ibero American leaders meeting in Mexico, besides the traditional declaration, also put out a special statement in support of Argentina and its ongoing struggle with speculative funds.

Wednesday, December 10th 2014 - 07:56 UTC

Weaker Latin American currencies against the US dollar next year

Strong dollar and fall in commodities prices will have an impact on the region's currencies

Latin American currencies will lose value against the US dollar in 2015 because of the strong US recovery and lower commodities' prices according to Itau-Unibanco, Brazil's largest private bank which also anticipates a strong fiscal adjustment by President Dilma Rousseff's next administration, in an effort to regain investors' 'confidence'.

Tuesday, December 9th 2014 - 23:03 UTC

Mercosur lacks discipline and has become a 'straitjacket' for trade negotiations

“Mercosur is off the track, it won't be easy to put it back; this is partly because the block left aside the original project of a customs union” said Ms Valls

Mercosur must discipline and return to its origin as a customs union since it has become a 'straitjacket' for negotiations with other regional blocks, according to Lia Valls, foreign trade coordinator at the Brazilian Economics Institute belonging to the prestigious thinktank Getulio Vargas foundation.

Monday, December 8th 2014 - 07:12 UTC

Road ahead for Latin America 'increasingly bumpy' says IMF Lagarde

Commodity prices that lifted the region for more than a decade are now falling and the era of easy financing will soon end, said Lagarde.

Latin America faces a rocky road ahead despite social and economic achievements in recent years, according to the head of the International Monetary Fund Christine Lagarde. Among the achievements in the last two decades and in most nations, Ms Lagarde mentioned low inflation, fiscal discipline, and financial stability.

Monday, December 8th 2014 - 06:55 UTC

Mujica says Guantanamo inmates in Uruguay can leave whenever they wish

Mujica also asked for the liberation of Cuban spies jailed in the US and the lifting of the US embargo on Cuba

The detainees from Guantanamo Base in Cuba that arrived in Uruguay on Sunday as part of an agreement with the US, “can leave the country whenever they wish”, since they come as 'refugees', announced President Jose Mujica.

Friday, December 5th 2014 - 23:56 UTC

UK ambassador underscores shared values and qualities of Royal and Chilean navies

Ambassador Clouder addressing guests at the reception on HMS Dragon

UK ambassador in Chile Fiona Clouder underlined the values and qualities of the Royal Navy and Chilean Navy during a reception on HMS Dragon, which called at Valparaíso for the week long Exponaval 2014, considered the most important naval, maritime and ports' exhibition in the southern hemisphere.

Friday, December 5th 2014 - 06:19 UTC

Latin America 'unfortunately' has a very low participation in global trade

Rodriguez said that “south-south” trade had increased from less that 5% in 1990 to almost 18% last year, on the back of the integration process

Latin America 'unfortunately' has a very low participation in world trade which is a major challenge for the region, according to Gonzalo Rodriguez, member of Mercosur technical staff, who was one of several speakers at the preamble of Unasur summit.

Thursday, December 4th 2014 - 06:06 UTC

Ecuador to combat IUU fishing as part of trade agreement with the EU

EU is the main market for Ecuadorian tuna, accounting for 65% of exports. The country is also the leading supplier of canned and pre-cooked tuna.

Ecuador's Deputy Minister of Aquaculture and Fisheries organized a workshop with representatives from various government institutions related to port and maritime fisheries control in the country in order to develop a National Action Plan to prevent, deter and eliminate illegal, unreported and unregulated (IUU) fishing.

Thursday, December 4th 2014 - 04:54 UTC

Pacific Alliance integrated stock markets, MILA, begins operations from Mexico

MILA said the transaction was the purchase by Mexican brokerage Grupo Bursatil Mexicano (GBM) of 200 shares in Chile-based retailer Falabella

Mexico's stock exchange on Tuesday carried out its first operation as a member of the Latin American Integrated Market, or MILA, which connects it to bourses in Chile, Colombia and Peru, MILA said in a statement. The four countries are members of the Pacific Alliance an open market, pro business and foreign investment group created in 2012.

Wednesday, December 3rd 2014 - 09:31 UTC

Analysts anticipate 'painful adjustment' for Uruguay if there is a continuity of current policies

Vazquez promise of continuity and more social spending with the economy at full capacity, “most likely will generate more inflation and more strains”

High inflation, relatively weak economic growth and an exhausted growth model are forecasted for Uruguayan president-elect Tabare Vazquez second administration as of next March, according to the latest report from two Capital Economics analysts.

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