Latin America

• Friday, December 13th 2013 - 18:10 UTC

  Venezuela clashes with World Bank over oil deal with Haiti

  

  Venezuela has dismissed as “disrespectful” comments made by a senior World Bank official that Haiti was not transparent in its handling of funds provided under the Caracas-led PetroCaribe.

• Friday, December 13th 2013 - 12:13 UTC

  'Abstention' the main challenge for Chilean presidency election run-off on Sunday

  

  Chileans are set to head to the polls this Sunday to choose their next president, but experts fear much more than half the electorate will opt not for Michelle Bachelet or Evelyn Matthei, but to stay at home on election day instead. The election’s first round, held Nov. 17, saw the debut of the voluntary voting system in Chilean presidential elections and a turnout of 6.7 million, half-a-million-votes less than were counted in 2010, when voting was still mandatory for those on the electoral role.

• Friday, December 13th 2013 - 09:04 UTC

  Mexico breaks 75-year myth: opens energy sector to private and foreign investment

  

  Mexico's Congress approved on Thursday early morning a historic energy reform aimed at luring foreign investment and ending the state's 75-year-old oil monopoly following a heated debate. After a marathon session that lasted nearly 24 hours, the lower house voted 353 to 134 for the legislation championed by President Enrique Peña Nieto, one day after it passed the Senate.

• Friday, December 13th 2013 - 08:47 UTC

  Keeping up with inflation in Argentina: after calming police, who's next in the queue

  

  Police protests and widespread looting in 19 of the 24 Argentine provinces has, in a few weeks, shattered expectations about the new cabinet of President Cristina Fernandez and a stabilization of the economy, since as can be anticipated government employees and unions will be demanding similar conditions as their blue uniformed colleagues to keep up to date with inflation, running at an annualized 26% according to the November reading.

• Thursday, December 12th 2013 - 06:54 UTC

  EU admits difficulties and requests Mercosur to delay the exchange of tariff proposals

  

  The European Union has formally requested that the exchange of tariff proposals with Mercosur for the creation of a cooperation and free trade zone, originally scheduled for next week, be delayed until 2014. The message was received by the Brazilian delegation at the recent WTO Bali discussions.

• Thursday, December 12th 2013 - 06:47 UTC

  Brazil expects a 90 million tons soybean crop, making it the world's top producer

  

  Brazil's government food supply agency Conab forecast record soybean output of 90.03 million tons, near the top of its previous forecast of 87.9 million to 90.2 million tons, as farmers finish planting new fields.

• Thursday, December 12th 2013 - 06:39 UTC

  London conference on Pacific Alliance; UK granted observer status

  

  Over 150 representatives of British companies and businesses attended the conference on the Pacific Alliance (Chile, Peru, Colombia and Mexico) organized by the British Foreign & Commonwealth Office and the Financial Times. The Alliance is considered one of the newest and most promising political and economic blocks is emerging from Latin America.

• Thursday, December 12th 2013 - 06:33 UTC

  Latam forecasted to expand 3.2% in 2014 after a 2.6% this year, says Eclac

  

  The economies of Latin America and the Caribbean will expand by 3.2% in 2014, which is higher than the 2.6% for 2013, according to the latest report from the UN Economic Commission for Latin America and the Caribbean, launched on Wednesday in Santiago, Chile.

• Wednesday, December 11th 2013 - 22:53 UTC

  First obstacle for Uruguay's marijuana bill: it violates international convention on drug control

  

  Uruguay's decision to legalize marijuana is in violation of an international convention on drug control, the Vienna-based International Narcotics Control Board, INCB, which monitors government compliance with such treaties said on Wednesday.

• Wednesday, December 11th 2013 - 04:31 UTC

  Uruguay becomes first country to oversee production and sale of marijuana

  

  Uruguay's Senate has approved ground-breaking legislation legalizing marijuana, becoming the first nation in the world to oversee the production and sale of the drug. After a marathon debate, the 16 senators from the ruling coalition out of 29 lawmakers voted Tuesday in favor of the legislation championed by President Jose Mujica, who must now sign it into law.