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Latin America’s Economy — Why This Is No Time For Complacency
By Eric Parrado A young Augustine, before becoming a Saint, lived a hedonistic lifestyle. But one day he received a message from God – asking him to convert from that type of life. So he prayed to God: “Lord, grant me chastity and continence …but not yet.” Many times governments behave like St. Augustine as they … Continue reading
Mark Mobius: Colombia’s Tourism Turnaround
By Mark Mobius, Templeton Emerging Markets Group In the past, Colombia had a somewhat dubious reputation among travelers that, unfortunately, kept many from experiencing its numerous charms. Colombia’s government and its people have risen to meet many challenges over the past decade, working to improve the country’s attractiveness to international tourists as well as investors. After a … Continue reading
Washington Launches Its Attack Against BRICS
By Paul Craig Roberts Having removed the reformist President of Argentina, Cristina Fernandez de Kirchner, Washington is now disposing of the reformist President of Brazil, Dilma Rousseff. Washington used a federal judge to order Argentina to sacrifice its debt restructuring program in order to pay US vulture funds the full value of defaulted Argentine bonds that … Continue reading
Brazil’s Rousseff To Take Fight Against Impeachment To The UN
Brazil’s beleaguered Dilma Rousseff has changed her plans and will attend a UN event on Friday in New York to make her case against an impeachment process that could remove her from office within weeks, her office said. The Brazilian president lost a crucial vote in the lower house of congress on Sunday and faces … Continue reading
Argentina Returns To International Bond Market After 15 Years Of Isolation
The government of Argentina has finally returned to the scope of the international bond market as of April 18, which has thus ended 15 years of global financial isolation after the South American nation defaulted back in 2001. Fulfilling a campaign promise and following favorable court rulings, Argentine President Mauricio Macri gave the green light for the sale of $15 … Continue reading
If Dilma Rousseff Is Impeached, Brazil Faces Years Of Political Turmoil
By Marieke Riethof The lower house of Brazil’s National Congress has voted overwhelmingly to impeach President Dilma Rousseff for allegedly covering up the scale of the country’s budget deficit, sending the case to the upper house. As the vote was taken, anti-government demonstrations on the Avenida Paulista and outside the congress held aloft a giant inflatable … Continue reading
Emerging Markets: What Has Changed This Week?
By Marc Chandler, Marc to Market Blog Bank Indonesia will use the 7-day reverse repo rate as its new benchmark policy rate The ruling party in South Korea unexpectedly lost parliamentary elections The Monetary Authority of Singapore eased monetary policy to recession settings Turkey has nominated its next central bank chief The Brazilian special lower house committee … Continue reading
Maduro Changes Time Zone To Counter Venezuela’s Energy Crisis
Venezuela has reversed a half-hour time change that was one of the signature measures of former president Hugo Chávez’s idiosyncratic 14-year rule. Chávez turned Venezuela’s clocks back 30 minutes in 2007 so that children could wake up for school in daylight. But his successor, Nicolás Maduro, has decided to return to the previous system, four … Continue reading
Pepe Escobar: Why The Coup In Brazil Should Fail
By Pepe Escobar As a metaphor of the advanced state of putrefaction plaguing the entire political system of one of the Global South’s leading nations, nothing comes close to what is about to take place in Brazil. The notoriously corrupt leader of the lower House in the Brazilian Parliament, Eduardo Cunha — holder of 11 illegal Swiss accounts, listed in the … Continue reading
How A U.S. President And JP Morgan Made Panama: And Turned It Into A Tax Haven
In 1903 the US bullied Colombia into giving up the province that became Panama. The plan was to create a nation to serve the interests of Wall Street This goes back a long way. The Panamanian state was originally created to function on behalf of the rich and self-seeking of this world – or rather … Continue reading
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