Latin America

Wednesday, April 18th 2012 - 08:23 UTC
Brazilian economy set to grow 3%, but with risks of overheating, says IMF

The Brazilian economy is set to grow 3% in 2012 after the modest 2.7% of last year, but following the relaxation of monetary policy it runs the risk of ‘overheating’, according to the IMF World Economic Outlook, WEO.
Wednesday, April 18th 2012 - 08:06 UTC
Argentina’s Malvinas claim with no support statement from hemisphere defence ministers

A preparatory meeting for a Ministers of Defence of the Americas Conference to be held in the second half of the year concluded in Montevideo with no inclusion of the Malvinas Islands dispute in the final declaration because of lack of agreement among the participants.
Wednesday, April 18th 2012 - 01:05 UTC
Bolivia’s Morales takes distance from YPF/Argentina conflict and praises Repsol

Bolivian president Evo Morales clearly took distance from Argentina’s expropriation of YPF, the Argentine affiliate of Spain’s Repsol which was announced on Monday and caused a major rift between Argentina and Spain and the European Commission.
Tuesday, April 17th 2012 - 20:04 UTC
IMF estimates less growth (3.5%) and higher prices (7.4%) for Uruguay in 2012

Uruguay growth estimate has been downed for 2012 while prices will be higher, according to the latest IMF World Economic Outlook released on Tuesday. The economy is set to grow 3.5% down from 4.2% while prices will climb to 7.4% compared to the 6.5% estimate of the previous WEO last September.
Tuesday, April 17th 2012 - 07:07 UTC
Mexico appeals to CFK: nobody in its right mind invests in countries that expropriates

Mexican president Felipe Calderón and G-20 group head, said that Argentina’s plan to seize a majority stake in Repsol’s Argentine branch YPF is “very regrettable” and called on President Cristina Fernandez to reconsider and rectify the decision.
Tuesday, April 17th 2012 - 06:58 UTC
Chavez supports nationalization of YPF; offers Venezuela’s experience in the matter

Argentine president Cristina Fernandez received late Monday the first international support for her announced takeover of YPF from the Spanish corporation Repsol: the Venezuelan government and President Hugo Chavez, revealed the Foreign Affairs ministry.
Tuesday, April 17th 2012 - 06:52 UTC
Chile’s Enap, a partner of Repsol, “so we are also involved in the YPF dispute”

The Chilean government reacted with concern at the announcement by Argentina of a bill to expropriate 51% of the oil company YPF from Spain’s Repsol, since this will have a direct impact for Chile, said on Monday evening the Executive Secretary General Andres Chadwick.
Tuesday, April 17th 2012 - 03:07 UTC
Colombia reaps from the summit: free trade agreement with US becomes effective in May

The US-Colombia free trade agreement will enter into force next month, far earlier than expected, as a result of what the Obama administration called “historic” progress for Colombian worker protections and human rights.
Tuesday, April 17th 2012 - 00:28 UTC
US candidate Dr. Kim chosen World Bank president; takes office next July

US nominee Jim Yong Kim has been chosen as the new president of the World Bank. The Korean-American health expert, president of Dartmouth College faced a strong challenge for the post, which has traditionally gone to an American, from Nigerian Finance Minister Ngozi Okonjo-Iweala.
Monday, April 16th 2012 - 21:48 UTC
Argentina sends bill to takeover control of YPF from Spain’s Repsol

Argentine President Cristina Fernández de Kirchner sent to Congress a draft bill to expropriate Spain’s Repsol’s holdings of YPF oil and gas company. The announcement was made on Monday at the Government House during a sudden meeting with officials, political leaders, unionists and businessmen.