President Nicolas Maduro replaced Venezuelan Finance Minister Jorge Giordani, appointing central bank chief Nelson Merentes in his place two days after being sworn in as Hugo Chavez's successor.
President-elect Horacio Cartes is one of Paraguay's wealthiest men with businesses in tobacco, finance, farming, retail and the soft drinks industry among others. Brash and ambitious, Cartes had never voted before joining the conservative Colorado Party in 2009.
Argentine president Cristina Fernandez congratulated Paraguayan president-elect Horacio Cartes for his ample victory in Sunday’s election and said Mercosur was waiting for the return of the country to the trade block.
Millionaire businessman Horacio Cartes won Paraguay's Sunday presidential election, returning the powerful centre-right Colorado Party to power after a brief spell started in 2008 ended in impeachment last year. Cartes won with a 9 or 10 percentage point lead over Efrain Alegre of the ruling Liberal Party, the head of the country's electoral tribunal said.
Uruguay’ financial and political stability is backfiring as the Central bank is forced to buy a massive inflow of foreign capital which in turn creates an abundance of Pesos that need to be absorbed to control inflation and support the competitive edge of the country’s exports.
Two US hedge funds suing Argentina for full payment on defaulted bonds rejected on Friday, President Cristina Fernandez government offer to settle the suit with a deal that would give them approximately 25% of what they were seeking.
Argentines are expecting an inflation of 34.2% in the coming twelve months according to the average from a monthly report released by a prestigious private university research centre based on surveys,
When the last tanks rumbled past and the massive civil-military parade with display of state of the art missile launchers had come to an end in early Friday night of Caracas, Venezuelan president Nicolas Maduro could sigh in relief because his last twenty four hours had been really hectic.
Brazil’s Finance Minister Guido Mantega slammed the United States and Europe for repeatedly delaying reforms of their dominated shareholding and voting power in the International Monetary Fund (IMF).
President-elect Nicolas Maduro was set to be inaugurated in Venezuela Friday as election officials moved to defuse a political crisis by yielding to demands for an audit of the electronic votes of the results in Sunday's bitterly contested elections.