Over 150 representatives of British companies and businesses attended the conference on the Pacific Alliance (Chile, Peru, Colombia and Mexico) organized by the British Foreign & Commonwealth Office and the Financial Times. The Alliance is considered one of the newest and most promising political and economic blocks is emerging from Latin America.
Foreign direct investment (FDI) to Latin America displayed moderate growth in the first half of this year, compared with the 2012 similar period, according to the Economic Commission for Latin America and the Caribbean (ECLAC). The 13 countries of the region that provided data received 102.951 billion dollars, which was 6% higher than the first six months of the previous year.
The International Monetary Fund on Tuesday cut its economic growth forecast for Latin America and the Caribbean, blaming, at least in part, poor infrastructure and lower commodity prices. In its latest World Economic Outlook report, the IMF noted that emerging markets generally were facing a dampening of growth amid less supportive external conditions and domestic supply-side constraints.
The Pacific Alliance made its official presentation in New York before 200 business people and investors, mostly from the US, with four top anchor men: the presidents of Chile, Peru and Colombia and Mexico’s foreign trade minister since head of state Enrique Peña Nieto had to remain in the country because of the catastrophic floods.
The foreign trade performance of Latin America and the Caribbean reflects the weak global economy. Regional export values are expected to grow by just 1.5% in 2013 (3% in volumes and -1.5% in prices) - which is similar to the 1.4% growth observed in 2012.
Uruguay has become one of the dearest countries in the region taking into account prices of goods and services according to a survey in eleven cities done by the Group of Newspapers from the Americas, (GDA) a network of the main dailies in the continent.
Conservative businessman Horacio Cartes was sworn in as president of Paraguay on Thursday, amid slowly improving relations with South American neighbors, and Mercosur members, damaged by the 2012 removal of populist President Fernando Lugo, who was impeached on incompetence.
New Iranian President Hassan Rouhani met in Tehran on Sunday with Cuban Vice President Ricardo Cabrisas and said his country wanted to expand its relations with Latin America, “especially with Cuba,” Iran's Isna news agency reported.<br />
Cabrisas traveled to Iran for Rouhani's inauguration on Sunday.
Brazilian president Dilma Rousseff officially confirmed her attendance to the inauguration ceremony of Paraguayan president-elect Horacio Cartes next 15 August, according to the Transmission Committee that is coordinating the event
A group of Latin American countries refused to back an IMF move this week to keep bankrolling Greece, citing risks of non-repayment, and the Fund itself said Athens might need faster debt relief from Europe.