Latin America

Saturday, August 11th 2012 - 10:04 UTC
Paraguay sounding the possibility of joining the Pacific Group

Paraguay is sounding the recently created Pacific Block made up of Colombia, Peru, Chile and Mexico with the possibility of considering applying to join it, revealed the country’s Foreign affairs minister Jose Fernandez Estigarribia.
Friday, August 10th 2012 - 22:28 UTC
Mexico Ousts Brazil as Investors’ Top Choice in Latin America

Due to increasing economic stability and a growing population, Brazil is now widely considered an economic powerhouse capable of maintaining and attracting foreign direct investments.(1)(2) However, recent corruption schemes, changes in monetary policy, and the ongoing 2008 global financial crisis have undermined Brazil’s shining reputation. In light of Brazil’s governmental intervention, the number of state-controlled enterprises, the growing debt-to-GDP in the private sector, and inflation rates, investors have begun to turn their attention to other economies in Latin America, especially Mexico.(3)
Thursday, August 9th 2012 - 06:45 UTC
Protesting students clash with police in Santiago: 49 police injured and 75 arrests

Police in Santiago used water cannons and tear gas as thousands of students took to the streets, raging against the government's policy on education. Vandals set buses ablaze and attacked government property amid violence that left 49 Carabineros injured and 75 people arrested.
Thursday, August 9th 2012 - 06:38 UTC
Chilean inflation flat in July; accumulates 2.5% in the last 12 months

The Chilean consumer price index showed no variation in July in contrast to the surprise 0.3% drop in June, as increases in food and non-alcoholic drinks offset falls in clothing, footwear and utilities, according to the national statistics agency INE.
Thursday, August 9th 2012 - 06:33 UTC
Venezuela inflation slows down for seventh month running: 19.4% in last 12 months

Venezuela's annual inflation slowed for a seventh straight month in July, coming in below 20% for the first time in years. Finance Minister Jorge Giordani said annual inflation to July was 19.4% percent, below the 20 to 22% estimated in the government's budget for this year.
Thursday, August 9th 2012 - 06:29 UTC
Venezuelan currency overvalued by 83% according to the Big Mac index

The Big Mac index computed by The Economist showed that the Venezuelan Bolivar is the most overvalued currency worldwide with respect to the US dollar, reflecting the imbalance of the Venezuelan economy.
Thursday, August 9th 2012 - 06:18 UTC
Seventeen nations in military exercise for the protection of the Panama Canal

This year’s PANAMAX exercise kicked off on Monday involving representatives from 17 hemispheric countries with the purpose of practicing methods of protecting the safe passage of commercial traffic through the Panama Canal while ensuring its neutrality and respecting national sovereignty.
Wednesday, August 8th 2012 - 18:21 UTC
Paraguay to appeal Mercosur sanctions before the The Hague Court of Justice

The Paraguayan government had decided to appeal before the International Court of Justice in The Hague the suspension imposed on Paraguay by the governments of Argentina, Brazil and Uruguay as a sanction for the removal of Fernando Lugo as president of the country, last June 22.
Wednesday, August 8th 2012 - 18:16 UTC
Panama Canal unveils new tolls structure and increases some categories

Following the recommendation from the Board of Directors of the Panama Canal Authority (ACP), the Panamanian government approved this week the proposal to restructure the Panama Canal's pricing system.
Wednesday, August 8th 2012 - 07:12 UTC
Unasur special committee presents this week report on Paraguay’s political situation

The special Unasur commission that is monitoring and following political events in Paraguay since the removal of Fernando Lugo as president and his replacement by Federico Franco, is expected to make a first presentation next Thursday said Peruvian Foreign affairs minister Rafael Roncagliolo.