MercoPress. South Atlantic News Agency
Chile and Peru, best performing economies of the region leave rates unchanged
Chile and Peru opted this week against following the lead set by nations from Brazil to South Korea in cutting interest rates as economic growth and slowing inflation in the Pacific neighbors gave central bankers little reason to change monetary policy Read full article
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Disclaimer & comment rules“Peru had a 34 million trade gap in April, its first deficit in three years, which widened to 106 million in May. Year-on-year growth in Peru slowed to 4.4% in April.”
Jul 15th, 2012 - 05:40 am - Link - Report abuse 0And slowly they will start to borrow, borrow, borrow... until one they FT says “what was wrong in Peru?” and S&P downgrade some notches credit rating and here we are again with debt crisis, privatisation, unemployment, etc. and Chicago boys come to the rescue.
Seems what is good for “International Monetary Fund” is not for the inhabitants of those countries.
Anyone have ever seen this movie before?
Dany, every country has single months with trade deficits now and then, so what? It proves nothing. Peru in it's 5 first months continues to have a trade surplus of 2.000 million USD and it will again keep the pole position as fastest growing country of Latin America with 6 percent, against all odds and crisis in this world. You can't say that about your CFK's Argentina.
Jul 17th, 2012 - 12:10 am - Link - Report abuse 0@ManRod
Jul 17th, 2012 - 09:11 am - Link - Report abuse 0You wrong as always this is another bank scam...
whatever... your non-existing arguments do not really convince me. Just denying it will not prove you right. Peru for sure has problems like ever south american country, but they are on a way better path than CFK's route.
Jul 18th, 2012 - 01:30 pm - Link - Report abuse 0Nobody with a minimum of rational analytic skill can deny it.
4 ManRod (#)
Jul 18th, 2012 - 02:16 pm - Link - Report abuse 0Dany doesn't posess a minimum of rational analytical skill, or for that matter any skill at all!!!!
@ManRod & Simon68
Jul 19th, 2012 - 07:26 am - Link - Report abuse 0Sure boys but Perú, Colombia and Chile are bubbles created by bankers and speculators that while last take advantage of the trend created by them selves. Like in Ireland, Island, Greece, Spain, Italy, etc.
Let’s wait to the next Latam debt and financial crisis that will explode in those countries.
Until 2007/8 Ireland was the tiger of the west the example to be copy and now what?
I guess you (the analytical boys) will be glad to explain to a idiot like me why a country like Ireland that was promoted as an example of success had ended in so bad.
Waiting...
in NO way Peru and Chile are comparable bubbles like Ireland, Island, Greece, Spain etc...
Jul 21st, 2012 - 09:31 am - Link - Report abuse 0These countries (eventhough developped) do had quite contrary fiscal policies to Peru and Chile. In their issues, they are rather comparable with CFK's fiscal “model” of “spending others money like there would be no tomorrow” and inflate their buerocratic apparatus (how do you call that in Argentina... wasn't it “ñoqis”?)
The European countries you mentioned are at the brink of bankruptcy, BECAUSE they have commited fiscal atrocities and overendebtment, in opposite to Chile and Peru, who almost have non existing public debts, or even better like in the case of Chile, is an international net TRUSTOR. Do you even know what a Trustor-state is?
I bet you can't even imagine that in your farthest dreams...
Also Colombia, Peru and Chile are no bubbles, because based on the balance of trade you can see there IS SOMETHING productive about these countries. How come a small country like Chile, a third of what the “industrial” Argentina is, can export even more than it's big neighbour.
The mentioned example Greece on the other hand is quite comparable with the Argentina of 2001. Both countries have/had a destroyed productive apparatus, their trade balance had/have huge deficits. Greece was exporting 20 billion USD and importing 60 billion USD, and “sustained” all this on state debts.
I wonder how you cannot see this...
@ManRod
Jul 22nd, 2012 - 10:15 am - Link - Report abuse 0“I wonder how you cannot see this...”
The only one that I can see that cannot see is you at the moment...
I don’t know where you live but I guess that you have no idea of the EU bureaucracy (Euro ñoquis) especially in Italy, France, Spain, etc.
Chile:
GDP $248.4 billion
External debt: $99billions (40% of GDP)
Exports: $86 billion
Imports: $73 billion
Trade balance: $13 bn (surplus).
Current account balance: -$1.1 billion (deficit) is going out more $$ than what is coming in...
“How come a small country like Chile, a third of what the “industrial” Argentina is, can export even more than it's big neighbour.”???
No much more just only 1.7bn dollars ARG exports 84.3bn last year.
And because Chile premium export is cooper (first producer in the world) that represents half of total Chilean exports around USD 43bn.
And is a state owned company.
And thanks to Salvador Allende and del Campo who nationalised the sector
Such funny irony he!?
The best exported and premium product and most valuable item of the Chile’s economy comes from a company created by a socialist from nationalisation (Anaconda & others).
That produced isolation, international boycott and economy retaliation from international community leaded by fellows bankers like Rockefeller and Rothschilds families. Who wanted to have the monopoly of the cooper in the world.
What do you think about Codelco to be privatised again to private investors? Ha ha
Why liberal Pinochet didn’t make the company private again???
So MandRoad please stop trying to lecture others about economy by giving lame examples that you don’t have any idea of it.
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