Latin America

Monday, October 8th 2007 - 21:00 UTC
IMF Rato warns Latam about impacts of US sub prime crisis

The credit squeeze will force governments worldwide to make substantial changes to their budget plans, Rodrigo Rato, outgoing managing director of the International Monetary Fund, has warned. He said that the credit squeeze was a “serious crisis” that was not over yet and would curtail growth worldwide.
Saturday, October 6th 2007 - 21:00 UTC
Record budget surplus in Chile this year: 8.1% of GDP

Because of high copper prices, Chilean treasury officials now believe that they will end the year with a historic budget surplus of 8.1% of the Gross Domestic Product (GDP).
Saturday, October 6th 2007 - 21:00 UTC
Pinochet's relatives and former associates released on bail

Former General Augusto Pinochet's widow, children and former associates were provisional released on bail Saturday, two days after their arrest on corruption charges.
Friday, October 5th 2007 - 21:00 UTC
Crucial referendum on Sunday for Costa Rica and C. America

On Sunday Costa Rica votes on a crucial free trade agreement with the United States which has the country's electorate split almost equal, according to the latest public opinion polls. The situation could be of concern for the future of Central America's most stable democracy.
Friday, October 5th 2007 - 21:00 UTC
Ecuador willing to rework contracts with foreign oil companies

Ecuador offered on Friday to rework the contracts of foreign oil companies that object to a decree sharply reducing their share of windfall oil revenues. President Rafael Correa surprised companies on Thursday by decreeing that the government will take 99% of the profits gained when oil prices rise above contracted levels. Previously, it was a 50-50 split.
Thursday, October 4th 2007 - 21:00 UTC
US dollar continues to drop against Chilean peso

The US Dollar dropped to its lowest value in relation to the Chilean Peso in over seven years on Monday, before slightly rebounding on Tuesday. Meanwhile, President Michelle Bachelet responded to this news by saying that the currency's continuing decline is a source of concern in Chile.
Thursday, October 4th 2007 - 21:00 UTC
Inflation and strong currency threaten Peruvian economy

As several other commodity-exports dependent countries in South America, Peru's economy is booming growing at an estimated 8%, following last year's 7.6%. However this success and the massive influx of US dollars is distorting monetary policy and delaying an improved wealth distribution.
Wednesday, October 3rd 2007 - 21:00 UTC
Incipient political dialogue between US and Venezuela

Top diplomats from Venezuela and United States held talks aimed at improving relations, discussing a possible visit to Caracas by Washington's leading envoy for the Americas. Relations between the two countries have been tense for years.
Tuesday, October 2nd 2007 - 21:00 UTC
Landslide victory in Ecuador for XXI Century Socialist project

Ecuadorian president Rafael Correa received a landslide support in the Sunday election for a Constitutional Assembly which will be tasked with reforming the country's constitution and leading it towards what he has defined as XXI Century Socialism.
Tuesday, October 2nd 2007 - 21:00 UTC
South America: highest robbery rates

Fear of crime is driving investment away from cities in developing countries, where over half of all urban residents have been victims in the last five years, a United Nations report warned yesterday.