Brazil is a country with a promising economic potential. The official state currency is the Brazilian real. Huge deposits of minerals, fertile lands create excellent preconditions for the development of mining industries and agriculture. Of all the countries of South America, Brazil has the most tangible impact on the international economy.
Almost everyone knows about United States and Canadian investment in Mexico thanks to the ample information provided regarding the North American Free Trade Agreement. But how many people are aware of Dutch investment in Mexico? Not many, probably.
Argentina is an economically ambiguous republic, having experienced several ups and downs in the past century. This large state in the early XX century was one of the richest in Latin America, but due to inept policy of the authorities, it twice was on the verge of default and entered the list of third countries of the world. In 2015 Mauricio Macri was elected as the president, who in a short time was able to double the foreign exchange reserves of Argentina.
US and Venezuela have a very consensual relationship between each other because such relation is traditionally been characterized by trade, investment, and cooperation from both of the sides. But as the good and bad days are sides by side, the relations between these two countries plunged into worst level when the USA imposed economic sanctions on Venezuela because of the abuses against protestors during 2014-15 protests. The combative relations between the U.S.
Colombia's foreign debt in July has risen up to 107.681 million US dollars, reaching 33.3 % of the Gross Domestic Product (GDP) – highest in the country since 1995, reported on Tuesday the Central Bank of the country.
In its report on Financial Markets, Bank of the Republic has informed that the percentage of total external debt to GDP has increased by 7.6 % in July compared with the same month of 2014, when the entire public and private indebtedness has reached 25.7 % of GDP.
After the devaluation of the yuan, the international financial markets started trembling. Washington accused Peking of taking advantage of the market. As China wants to incorporate the yuan into the Special Drawing Rights, it is inconvenient to prolong the devaluation. Furthermore, if a currency war broke out, China would risk increasing the economic and geopolitical tensions between countries in the Asian-Pacific region.
In international press, a lot of ink has been devoted to the BRICS. Without a doubt the participation of the five-party in the world economy block has increased over the course of the last years, competing directly with the United States and the European Union. However, the details about the New Development Bank and the Contingent Reserve Arrangement make it clear that its members resist to abandoning the orbit of the dollar in order to destroy the shell of the Bretton Woods institutions.
Venezuelan President Nicolas Maduro today announced measures against the Federation of Chambers of Commerce and Production of Venezuela (FEDECAMARAS), which he accused of being behind an economic war, aiming to destabilize the country.
In a ceremony held in the state of Anzoategui (east), Maduro also accused the Fedecdmaras of causing misery, by provoking high inflation and commodity shortages.
The Senate approved with 53 votes in favor and two against the government initiative of Cristina Fernández, which has already been backed by the Chamber of Deputies.
With the enactment of the law on Wednesday, the Argentine State recovered control of the freight and passenger rail system, privatized in the 1990s.
In fact the State has regained control over most of the country’s railway lines because of failure of the companies that controlled them to provide the services.
Brazilian President Dilma Rousseff, acknowledged today that there is an "economic problem" in the country, although she hopes that the recovery will come later this year thanks to fiscal adjustments, made by the government.
"Without a shadow of doubt, there is an economic problem in the country. We had a very difficult economic situation," said Rousseff during a meeting with bloggers and journalists from several Brazilian news portals.