Military expenditure in the twelve countries of South America, according to 2008 budgets, has reached a record 50 billion US dollars which is 2.5% higher than in 2007.
The International Monetary Fund, IMF has called on Latinamerica's central banks to send clear signals that their main objective is fighting inflation and not to blame exclusively international rising prices.
The United States Army and the Peruvian Armed Forces Joint Command are in negotiations for the establishment of US air facilities in Peru, according to press reports from Lima.
AméricaEconomía, a pan regional business magazine in Latin America, has announced the official launch of a new local edition in Peru. This is the fifth local edition of the glossy magazine which has local editions in Brazil (1996), Mexico (2005), Ecuador (2006) and Chile (2007).
GeoPark Holdings Limited announced the discovery of two new gas fields in the extreme south of Chile, the Magallanes Region. The gas fields are on the Fell Block following the successful drilling and testing of the two new gas wells.
The Chaiten volcano in southern Chile has erupted with renewed strength, belching thick clouds of ash and hurling molten rocks into the air, regional authorities said Friday.
Venezuela's President Hugo Chavez named on Sunday Ali Rodriguez, a trusted ally who has also served as head of state oil company PDVSA, as Minister of Finance. Rodriguez is currently ambassador in Cuba and was once secretary general of OPED and has also held the post of Foreign Affairs minister.
The US dollar is expected to open with a strong push in the Chilean money market on Monday having closed on Friday above the benchmark of 500 Chilean pesos, the highest so far this year.
Police in Ecuador have arrested three Colombians and an Ecuadorian accused of plotting to kill the country's leftist president Rafael Correa, officials say.
Latin American and Caribbean economies will start to slow in the second half of this year and possibly into 2009 because of the rise in oil and food prices, the United Nations Latinamerican Economic Commission, Cepal said on Friday.