Latin America

Wednesday, October 14th 2015 - 11:40 UTC
US hedge fund threatens to sue Peru on defaulted bonds from 1980s

A US hedge fund has threatened to sue Peru over bonds issued by the country's former military regime. Connecticut-based hedge fund Gramercy purchased the defaulted debt at a discount in 2008 after other bondholders failed to reach a deal.
Wednesday, October 14th 2015 - 11:00 UTC
Global banks warn net outflows from emerging markets close to $800 billion

After a week of discussions at the annual IMF assembly in Peru, bankers and policy makers agreed that stemming the rush of investments from emerging markets was one of the most important challenges facing the global economy. But there was little agreement on how to actually do that.
Tuesday, October 13th 2015 - 07:13 UTC
Pacific Alliance members outstand in Latin American performance, says IMF

Brazil is still by far the largest economy in Latin America despite its recession and the impact of the devaluation of the Real, according to the latest report from the International Monetary Fund (IMF), which said Venezuela dropped to the position of the region’s seventh-largest economy with a GDP that’s now half the size of Colombia’s.
Monday, October 12th 2015 - 06:22 UTC
Scioli leads presidential race in Argentina but still a puff short to avoid runoff

Argentine ruling party's candidate Daniel Scioli maintains a commanding lead in the presidential race but still lacks enough voter support to win outright in the first round, an opinion poll by the Poliarquia consultancy showed on Sunday.
Monday, October 12th 2015 - 06:19 UTC
“Under no condition, I might resign” says Brazil's Lower House speaker

The speaker of Brazil's lower house of Congress ruled out resigning in response to pressure from colleagues over allegations that he took bribes and stashed the money in Swiss bank accounts.
Monday, October 12th 2015 - 06:16 UTC
Petrobras corruption scandal could reach US$ 5.3bn: “we've only seen the tip of the iceberg”

Damage from the gargantuan corruption scandal centered on Brazilian state oil company Petrobras could amount to as much as 20 billion Reais ($5.3 billion), a lead prosecutor revealed last week.
Monday, October 12th 2015 - 06:14 UTC
Levy confident congress will finally approve austerity measures to help Brazil's economy

The president Dilma Rousseff administration is geared to “preparing the country to deal with a new international reality”, Brazilian Finance Minister Joaquim Levy told Reuters in an interview on Saturday.
Saturday, October 10th 2015 - 07:11 UTC
Opposition will push for impeachment proceedings against Rousseff next week

Brazil opposition lawmakers will push for impeachment proceedings to begin next week against embattled President Dilma Rousseff, local media reported Friday. It comes after the country’s top audit court, the TCU, ruled that the government’s 2014 accounts had been manipulated in the run-up to last year’s presidential elections to give a better impression of the economy and sustain spending on social programs.
Saturday, October 10th 2015 - 06:27 UTC
Global Unions call on IMF and World Bank should take recession threats seriously

Given the Annual Meetings of the International Monetary Fund and World Bank taking place in Lima, Peru, the International Trade Union Conference, ITUC, and its Global Unions partners call on the international financial institutions to adopt policies that counter the global economic slowdown.
Saturday, October 10th 2015 - 06:11 UTC
The Pope’s Subversive Message

The following piece by Arthur C. Brooks (*) was published in The New York Times opinion page. It is a strong view on Francis's visit significance for US Catholicism.