Politics

Politics
Thursday, July 23rd 2015 - 08:02 UTC

Brazil slashes fiscal savings' goals for 2015 and 2016 on plunging tax revenue

“The target revision should not be taken as a sign that we are abandoning the fiscal adjustment” said Finance Minister Joaquim Levy

Brazil dramatically lowered its fiscal savings goals for 2015 and 2016 on Wednesday due to plunging tax revenues, and announced new spending cuts to underscore its commitment to austerity. The government cut its primary surplus goal for this year to 8.7 billion reais ($2.70 billion), or 0.15% of GDP, from 66.3 billion reais, the equivalent of 1.1% of GDP, originally budgeted.

Thursday, July 23rd 2015 - 07:24 UTC

Over half of Argentina households belong to the middle class; only second to Uruguay

According to the PEW study, Argentina tops ranking of middle class growth, 17.5% and is among the three leading 'middle classs' countries

Argentina is the Latin American country where the middle class has grown the most in ten years, doubling in size, according to a report released by the Pew Research Center in the United States.

Thursday, July 23rd 2015 - 07:15 UTC

Obama administration drafting plan to definitively close Guantánamo prison

It was set up after the Sept. 11, 2001, attacks for al Qaeda and Taliban detainees. Obama vowed to close it within a year when he came to office in 2009.

The White House said it was in the final stage of drafting a plan for closing the Guantánamo prison for foreign terrorism suspects, racing against time to resolve one of President Barack Obama's most intractable problems. Spokesman Josh Earnest said the administration hoped to “short circuit” opposition from Republicans in Congress who have blocked Obama from closing the prison.

Thursday, July 23rd 2015 - 06:40 UTC

Scioli meets Raul Castro in Havana and praises political and economic opening of Cuba

“I admire and respect Raul's influence for having defended the Cuban people and his ideals, and for the updating of the socialist economic model” said Scioli

Argentina's presidential hopeful and Buenos Aires governor Daniel Scioli was received on Wednesday by President of Cuba Raul Castro for an official audience in Havana, making the incumbent candidate the first foreign politician to meet the head of state since the normalising of relations with the United States.

Thursday, July 23rd 2015 - 06:21 UTC

Cristina Fernandez' candidates for October's general elections have a clear lead

Daniel Scioli and Carlos Zannini have a solid lead of 18 points over its main competitor: PRO party with hopefuls Mauricio Macri and Gabriela Michetti

Argentina's current government presidential ticket for October's ballot, Daniel Scioli and Carlos Zannini has a solid lead of 18 points over its main competitor, the PRO party with hopefuls Mauricio Macri and Gabriela Michetti, according to the latest public opinion poll released by Aresco.

Thursday, July 23rd 2015 - 05:41 UTC

Falklands/Malvinas special session at Aladi's offices in Montevideo

Aladi founded in 1980, includes Argentina, Bolivia, Brazil, Chile, Colombia, Cuba, Ecuador, Mexico, Panama, Paraguay, Peru, Venezuela and Uruguay.

The Latin American Integration Association, Aladi, with main offices in Montevideo, will be holding on Thursday an extraordinary meeting on the Falklands/Malvinas Islands question in the framework of the recent Day of Affirmation of Argentine rights over the South Atlantic Islands (June 10), and the fiftieth anniversary of UN Assembly Resolution 2065, which called on Argentina and UK to dialogue and find a solution to the dispute.

Wednesday, July 22nd 2015 - 07:34 UTC

Dilma almost KO: 84.6% don't believe she can handle the economy and 62.8% want her impeached

The number of respondents who favor Rousseff's impeachment over a massive kickback scandal at Petrobras has risen to 62.8% from 59.7% four months ago.

Brazilian President Dilma Rousseff's popularity slumped to a new low and support for her impeachment grew amid a deepening corruption scandal and a severe economic downturn, according to an opinion poll published on Tuesday.

Wednesday, July 22nd 2015 - 07:22 UTC

BRICS bank (New Development Bank), takes off in low-key Shanghai ceremony

“Our objective is not to challenge the existing system as it is but to improve and complement the system in our own way” said NDB President Vaman Kamath

Officials from the world's largest emerging nations launched on Tuesday the New Development Bank (NDB), the second of two new policy banks heavily backed by Beijing that are being pitched as alternatives to existing institutions such as the World Bank. Also known as the BRICS bank, it follows soon after the establishment of the China-led Asian Investment Infrastructure Bank (AIIB).

Wednesday, July 22nd 2015 - 06:37 UTC

Dollar in Argentina breaks 15-Peso threshold; pro-business candidate poor showing scares markets

The 15.09 per dollar in the 'blue' or informal market was a record for this year and the first time that rate had been reached since September/October 2014.

The US dollar kept climbing in Argentina and ended trading on Tuesday above the 15 Pesos threshold after having advanced 30 cents on Monday and 54 cents today. Sunday's electoral result in the City of Buenos Aires where the pro-business PRO party just managed to scrape by with victory, has triggered growing nervousness and speculation among savers and traders.

Wednesday, July 22nd 2015 - 06:20 UTC

Chilean congress makes unprecedented mea culpa on several corruption cases

“I recognize that many times we have not lived up to what the citizenry expected of us”, said Senate President Patricio Walker, in a ceremony in Valparaiso

The Chilean Congress made an unprecedented mea culpa on Tuesday for a series of corruption cases involving lawmakers that have eroded public confidence in the institution. In the first review of the state of the Congress in its 204-year history, lawmakers acknowledged the damage caused by corruption, including accusations of tax fraud leveled against four opposition figures, two of them members of Congress.

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