Latin America

Tuesday, May 19th 2020 - 15:34 UTC
Costa Rica becomes 38th member of OECD

OECD countries unanimously decided last Friday to invite Costa Rica to become a member of the Organization. Costa Rican President Carlos Alvarado Quesada and OECD Secretary-General Angel Gurría will sign an Accession Agreement in the coming days.
Tuesday, May 19th 2020 - 08:47 UTC
Latin American stocks and currencies rise on hopes of global economic recovery

Latin American stocks and currencies roared higher on Monday, with Brazil shares rising 3.5% as commodity prices surged on hopes of economic recovery as countries eased pandemic-induced lockdowns.
Tuesday, May 19th 2020 - 08:42 UTC
LATAM Chile, Colombia, Ecuador, Peru to lay off 1,400 workers

LATAM Airlines Group, the largest airline conglomerate in Latin America, announced it will lay off 1,400 workers from its branches in Chile, Colombia, Ecuador, and Peru. The news was confirmed by the company on May 15, after Reuters released an internal video where LATAM CEO Roberto Alvo announced the measures to its employees.
Friday, May 15th 2020 - 08:55 UTC
Chile digging thousands of fresh graves amid a spike in Covid-19 cases

Thousands of fresh graves are being dug in Santiago's main cemetery amid a spike in Chile's COVID-19 cases, authorities said on Thursday. Chile's infection rate soared this week, prompting the government to declare a mandatory lockdown of Santiago's seven million people from Friday.
Friday, May 15th 2020 - 08:53 UTC
Latin America's two main economies with daily record virus cases, but also desperate to reopen activity

Brazil and Mexico on Thursday reported a record one-day rise in new coronavirus cases, just as leaders of both countries intensified attempts to reopen their economies even as the spread of the virus in Latin America is seemingly gathering pace.
Friday, May 15th 2020 - 08:49 UTC
Next Monday Itaipu opens its spillway to help lift the drought stricken Parana river level

The world's largest operational hydroelectric dam, Itaipu Plant announced that starting next Monday, May 18, it will open its spillway to help Paraguay and Argentina, which are suffering from a drought and hence having problems transporting their grain harvest.
Thursday, May 14th 2020 - 08:50 UTC
Fewer remittances because of Covid-19 will hit hard Central and Latin America

Remittances—the money that immigrants working abroad send home to families on a regular basis—have become a major source of funding for developing countries. In 2019, total global remittances exceeded US$550 billion, putting them on a par with levels achieved by foreign direct investment.
Thursday, May 14th 2020 - 08:41 UTC
US blacklists Cuba for not cooperating on counterterrorism; Havana argues “we are victims of terrorism”

The United States said on Wednesday it had added Cuba to a blacklist of countries that do not fully cooperate on counterterrorism, denouncing the presence of Colombian leftist guerrillas.
Tuesday, May 12th 2020 - 08:52 UTC
Paraguay fears its success in containing Covid-19 could be threatened by Brazil

Paraguayan President Mario Abdo Benítez has said the spread of coronavirus in Brazil threatens his country's success in containing the virus. Mr Benítez said more than half of Paraguay's 563 cases were people who had entered from neighbouring Brazil.
Tuesday, May 12th 2020 - 08:40 UTC
Colombia's national airline, Avianca, has filed for bankruptcy protection in a US court.

Avianca is the second-largest carrier in Latin America, but its passenger operations have been grounded since March because of coronavirus. It said the pandemic had cut more than 80% of its income, and it was struggling with high fixed costs.