China will provide up top 2 billion dollars for an Inter American Development Bank (IDB) fund, in support of projects for the public and private sector that promoted sustainable growth in the region.
Three firsts for the new Pope: Argentine, Jesuit and his election by fellow cardinals was announced by twitter. Jorge Mario Bergoglio, is a theological conservative with a strong social conscience, and a modest man who declined the archbishop's luxurious residence to live in a simple apartment and travel by public transport.
Uruguayan president Jose Mujica called for unity and responsibility in Venezuela, ‘to fight for freedom and peace’ and cautioned that big contradictions in a society are not squashed but conducted. He also called on Brazil to lead the region but warned: “not creating a new regional empire”.
India's trade with Latin America has gone down in 2012 in comparison to 2011. This is the second time the trade went down in the last decade when it was steadily growing. The earlier decline was in 2009 at the height of global crisis. Trade with the top seven countries of the region declined 15% from 25.274bn dollars in 2011 to 21.302bn in 2012.
Catholicism in Latin America is lively and dynamic, Brazilian Cardinal Raymundo Damasceno Assis said on Sunday, suggesting that the church look to Latin America for leadership. Damasceno is one of the 117 cardinal electors that will participate in the upcoming conclave to elect a new pope, following Benedict XVI announcement he is stepping down at the end of the month.
Interpol has announced that it arrested nearly 200 people in a wide-ranging international operation against illegal logging and the trafficking of timber. The three-month effort spanned 12 Central and South American countries, and 8 million dollars worth of timber was seized.
Fitch ratings has lowered Argentina, Venezuela and El Salvador credit and growth prospects to negative, while for the rest of Latinamerica the situation remains stable, according to a seminar in Frankfort, on “Latinamerica opportunities and challenges”.
Peru, Chile, Paraguay and Bolivia area among the South American countries best prepared in the event of another global crisis while Venezuela stands at the opposite end with ‘weakened’ defences, according to the latest report released by the IMF.
Leaders from the European Union and the Community of Latinamerican and Caribbean States concluded on Sunday a two-day summit with pledges of boosting bilateral trade and while few concrete details were released, the two economic blocs expressed a clear wish for stronger ties.
The IMF downgraded growth estimates for Latinamerica in 2013 from 3.9% to 3.6%, mainly because of an anticipated poor showing of the region’s largest economy Brazil, according to the Fund’s latest report on the world economy prospects.