Latin America

• Thursday, April 18th 2013 - 21:39 UTC

  “Democracy in Paraguay is here to stay: Mercosur and Unasur have become irrelevant”

  

  “We’re optimistic about Sunday’s election and the future of Paraguay if we can agree on long term state policies, but something is for certain: democracy in Paraguay is here to stay” said Ricardo Caballero Aquino, Chargé d’affaires of the Paraguayan embassy in Montevideo who was also positive about future relations with Unasur and Mercosur.

• Thursday, April 18th 2013 - 16:51 UTC

  Brazil increases benchmark rate to fight inflation, but markets feel it’s not enough

  

  Brazil’s central bank on Wednesday raised its benchmark rate for the first time since July 2011 as policy makers seek to slow inflation levels. The bank’s board, led by President Alexandre Tombini, voted 6-to-2 to increase the Selic rate 25 basis points to 7.50% from a record low.

• Thursday, April 18th 2013 - 10:19 UTC

  Urgent meeting of Unasur in Lima to express support for Venezuela’s Maduro

  

  Argentine President Cristina Fernández will travel to Lima for a UNASUR meeting on Thursday in which regional countries are expected to express their support for the elections results in Venezuela and President elect Nicolas Maduro.

• Thursday, April 18th 2013 - 05:39 UTC

  Paraguay elects president on Sunday but return to Unasur still distant

  

  Paraguay will be electing a new president on Sunday and its re-incorporation to the Union of South American Nations, Unasur could happen under the new government anticipated Salomon Lerner, chief observer of the regional group.

• Thursday, April 18th 2013 - 05:30 UTC

  Cartes and Alegre with best chances of becoming Paraguayan president on Sunday

  

  On Thursday evening all of Paraguayan presidential candidates will be holding their final rallies after which begins a 48-hour ban of all electoral activities ahead of Sunday’s general election. Two candidates outstand in the dispute, Horacio Cartes from the Colorado party and Efrain Alegre from the ruling coalition headed by the Liberals.

• Thursday, April 18th 2013 - 02:47 UTC

  IMF admits price-asset bubbles tells Latam financial sector ‘to keep their guard up’

  

  The International Monetary Fund (IMF) stated on Wednesday that both financial and banking sectors in Latin America “should keep their guards up” before the recent and fast growth of the credit, though the lender doesn’t see any overheat of the region’s economy.

• Wednesday, April 17th 2013 - 23:59 UTC

  US holding back recognition of Maduro who said “we couldn’t care less”

  

  The United States held back recognition of President-elect Nicolas Maduro and called on the Venezuelan government on Wednesday to respect the right of free assembly after violence at opposition protests over a disputed election.

• Wednesday, April 17th 2013 - 23:55 UTC

  Venezuelan Supreme Court bars any chance of a manual recount of votes

  

  A manual recount of votes isn't possible in Venezuela, the head of the country's Supreme Court said Wednesday, suggesting there is no legal basis for the opposition's push for a ballot-by-ballot audit of the narrow presidential election results.

• Wednesday, April 17th 2013 - 23:49 UTC

  Latam countries in OAS recognized Maduro as Venezuela’s elected president

  

  Representatives from several Latinamerican and Caribbean countries before the Organization of American States recognized on Wednesday Nicolas Maduro as elected president of Venezuela. Nicaragua, Argentina, Brazil, Colombia, Dominican Republic, Uruguay among others congratulated the new head of state and praised the Venezuelan people for their massive and peaceful turnout last Sunday for the historic voting day.

• Wednesday, April 17th 2013 - 23:06 UTC

  After the megalomaniac years of Chavez Venezuela is ready for a sober Maduro

  

  By R. Viswanathan (*) - The election of Nicolas Maduro, the chosen heir of Chavez, in last Sunday’s election, is good news for the peaceful and orderly transition of Venezuela after the abnormal, autocratic and quixotic rule of Chavez in the last fourteen years. If Capriles had won, the change would have been abrupt and traumatic for the Chavistas who might not have given up power so easily without some messy fight.