Venezuela will almost certainly default on its foreign debt, according to Harvard economists Carmen Reinhart and Kenneth Rogoff. They add that the beleaguered Latin American economy has already defaulted on every conceivable kind of domestic debt.
Brazilian President Dilma Rousseff and rival presidential candidate Aecio Neves have clashed over corruption and the state of the economy in the first of a series of televised debates ahead of the second round of presidential elections. 26 October.
Brazil will maintain plans to raise domestic fuel prices this year, despite a sharp drop in international crude oil prices, to help debt-laden state-run oil company Petrobras, a government source said this week.
Conservative Roman Catholic prelates have vowed to change a controversial Vatican document that held out the possibility of a major shift in the Church's attitude towards homosexuals.
Chile is confident that in coming months there will be 'significant' advances in a convergence of the Pacific Alliance and Mercosur, said Andres Rebolledo, Chile's Deputy Trade minister during a visit to Brazil.
German Chancellor Angela Merkel on Tuesday rejected calls for Berlin to ditch its plans for a balanced budget next year and to instead invest more in order to shore up the faltering German and Euro zone economies. On Tuesday Germany slashed its 2014 growth forecast from 1.8% to 1.2%.
Uruguay president Jose Mujica believes that the next parliament to emerge from the 26 October general election will have a difficult conformation, complicating the government's performance and that is the reason why he accepted to run for a Senate seat.
Chilean authorities and business people opened the London Stock Exchange on Tuesday as part of the Chile Day 2014 which is the country's foremost promotion event abroad for the financial and business sectors. UK Foreign Office Minister of State for Latin America Hugo Swire underlined that Chile in a key partner in the region.
The world's policymakers must take economic reforms more seriously, or they could see their economies stuck in a muddle of mediocre growth with high debt and unemployment, the head of the International Monetary Fund said at the multilateral organization assembly.
Spain’s separate battles to both become a temporary member of the United Nations Security Council and to also force Britain into bilateral negotiations over Gibraltar appear to be on a collision course, according to a report in the Wall Street Journal.