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Economic news (good & bad)
bolivia | by Miguel Centellas | 06 May, 2004 at 04:06 PM | comments (0) | trackback (0)
The economic report for 2004's first semester is good. A 44% increase in exports; a growth of $138.7 million. If the rate of export-led growth continues, Bolivian exports could reach a record $2 billion by year's end. Indicators were positive for nearly all market sectors, though especially for agriculture (specifically,...
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economics | by Claudio Shikida | 01 Apr, 2004 at 02:56 PM | comments (0) | trackback (0)
Who knows the family name "Shikida" could think of me as an enthusiastic "Fujimori-boy". Well, pal, you are totally wrong! My favorite Peruvian hero is Hernando De Soto. And he won the 2004's edition of the Milton Friedman Prize. See more about him here. This is the guy that brought...
Remittances On The Rise
economics | by Edward Hugh | 29 Mar, 2004 at 10:57 AM | comments (0) | trackback (0)
According to the Inter-American Development Bank Mexican, Brazilian and other Latin American emigrant workers sent home a record $38 billion last year, exceeding the combined foreign investment and direct assistance in the region....
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economics | by Edward Hugh | 23 Mar, 2004 at 05:54 AM | comments (0) | trackback (0)
Brazil's Foreign Minister Celso Amorim is currently in China lobying for finance to aid in the construction of railroads, roads, agriculture and mining in order to speed the flow of soybeans, meat and minerals to China. Regular Southern Exposure readers will be well aware of the China soya impact :...
economics | by Edward Hugh | 10 Mar, 2004 at 11:30 AM | comments (0) | trackback (0)
Mexico is suffering from an unexpected problem: inflation has accelerated due to a temporary ban on U.S. beef. This is affecting the price of all sorts of everyday items items: even the price of the tacos served from the street carts in Mexico City. Consumer prices rose 0.6 percent in...
bolivia | by Miguel Centellas | 09 Mar, 2004 at 12:32 PM | comments (25) | trackback (0)
For the first time in twenty years of democratic history, Bolivia's facing the harsh realities of presidential politics. For the past two decades, Bolivia resembled a parliamentary system, where every president was supported by a solid legislative majority. Bolivia overcame the governability problem inherent in presidential democracy (read Juan Linz...
bolivia | by Miguel Centellas | 08 Mar, 2004 at 01:00 PM | comments (0) | trackback (0)
President Mesa's tax proposals are under fire in Bolivia's parliament. MAS & NFR now oppose the proposal to impose taxes on Bolivians w/ more than $50,000....
economics | by Edward Hugh | 05 Mar, 2004 at 12:22 PM | comments (0) | trackback (0)
This is striking, isn't it. A Latin American country with zero inflation and a 1.75% funds rate which is under review for reduction. Of course a big part of this picture is currency-appreciation-driven, and the currency appreciation in turn is driven by China's demand for copper. So Chile's miraculous disinflation...
economics | by Mike Derham | 03 Mar, 2004 at 01:49 PM | comments (0) | trackback (0)
Emminent economist (and Clinton-era Treasury policy guru) Brad DeLong has an essay on capital flows that was in today's Reforma. Thus those of us who still wish to be card-carrying flag-waving advocates for international capital mobility are reduced to two and only two arguments. First, and most important, capital controls...
brazil | by Mike Derham | 23 Feb, 2004 at 11:19 AM | comments (3) | trackback (0)
Over the weekend both Marcelo and Cláudio put up interesting posts about how Argentina and Brazil have responsibility for their fiscal straits, in large part because of the failure of the political/economic elite to (as Marcelo put it) "act like a damn elite." While I agree with them, an article in today's Wall Street Journal gives creedence to the other side of the story.
brazil | by Claudio Shikida | 21 Feb, 2004 at 03:54 AM | comments (1) | trackback (0)
Illegal payments to public officials are not good for the image of a country. So, what an economist would do with this? He would advise you to enforce the law, increasing the probability of being punished. Or, he could also say: "Let people buy and sell the good or service...
brazil | by Claudio Shikida | 20 Feb, 2004 at 10:54 AM | comments (1) | trackback (1)
José Genoíno, an important representant of Brazilian's government seems to be more realistic than his fellows. According to him, the affair involving one of the most important leaders of his party, José Dirceu, will be forgotten due to our great party: carnival. That's probably true (I wouldn't say he is...
| by Miguel Octavio | 09 Feb, 2004 at 10:42 PM | comments (32) | trackback (0)
The Venezuelan Government devalued the official exchange rate today from Bs. 1600 per US$ to Bs. 1920 per US$. The move had been rumored for quite a while, since the 2004 budget used the new rate to calculate the Government's oil income for the year. However, there were doubts whether...
economics | by Edward Hugh | 06 Feb, 2004 at 12:51 PM | comments (19) | trackback (0)
With today's deadline looming larger than ever, the future of the FTAA (Free Trade Area of the Americas) negotiations between Brazil and the US still seems far from clear. Still separated by a wade of issues, with market access and agriculture at the top of the list, agreement seems as...
brazil | by Mike Derham | 02 Feb, 2004 at 10:08 AM | comments (0) | trackback (0)
Jeffrey Sachs, the global development guru had an op-ed piece in Friday's Miami Herald praising both Lula and Fernando Henrique Cardoso in providing the leadership necessary to help Brazil weather the economic crises of 1999 and 2002:...
economics | by Edward Hugh | 29 Jan, 2004 at 12:39 PM | comments (23) | trackback (0)
As per my last post, things are changing and fast. I would say we may possibly soon be able to talk of golbalisation phase one and globalisation phase two, speaking only of the post 1990 version of course. In the first phase there was plenty of room for argument about...
economics | by Edward Hugh | 29 Jan, 2004 at 12:27 PM | comments (23) | trackback (0)
When Cancun couldn't there was all sorts of speculation about how we might see a breakdown of global trade into a whole string of bilateral arrangements. These predictions seem to be being borne out: but not, it seems, as anyone foresaw. Lula, as Stephen notes, has been in India, and...
Now It's Columbia's Turn
economics | by Edward Hugh | 14 Jan, 2004 at 04:55 AM | comments (22) | trackback (0)
I wouldn't profess to be any kind of expert on the Columbian economy, nor even to know a great deal about it, but I couldn't help noticing this news in Bloomberg today: Colombia sold $500 million of dollar- denominated bonds due in 2024, the fifth Latin American government this month...
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economics | by Miguel Octavio | 10 Jan, 2004 at 07:16 PM | comments (24) | trackback (0)
In one of the most bizarre economic discussions to take place in Venezuela, news has been dominated during the last week by the request by President Hugo Chavez that the Venezuelan Central Bank "give him" US$ 1 billion (He actually asked for "un millardito", a little billion translated literally) of...
economics | by Edward Hugh | 09 Jan, 2004 at 02:15 PM | comments (45) | trackback (0)
Is Chile the latest beneficiary of economic growth in China? The Chilean peso is at the moment the best performing currency in the world this year, having risen 1.5 percent to 556.60 per dollar in Santiago this morning , rising for a fifth day out of six. The peso has...
venezuela | by Miguel Octavio | 04 Jan, 2004 at 05:40 PM | comments (34) | trackback (0)
The Venezuelan economy is truly full of surprises. The effect of the oil income and Government controls is remarkable, introducing a number of artificialities that make the country a laboratory for economic concepts like no other one. I understand that the Japanese Government even has a full time economist just...
economics | by Miguel Octavio | 02 Jan, 2004 at 05:44 PM | comments (37) | trackback (0)
I skipped two Thursday updates for a very simple reason: There is nothing to report! Life in Caracas came to a standstill the weekend befoere Christmas and activity has yet to pick up. In fact, I would say that the level of activity continues to go down. This lack of...
economics | by Miguel Octavio | 21 Nov, 2003 at 08:24 PM | comments (27) | trackback (0)
The Venezuelan Central Bank (BCV) reported that the Venezuelan economy shrank by 7.1% in the third quarter 2003. For the year the Venezuelan economy has shrank by a total of 14.7%. Quarter to quarter there was a slight improvement from -9.4% in the second quarter. The report by the central...
economics | by Miguel Octavio | 16 Nov, 2003 at 08:28 PM | comments (30) | trackback (0)
Interesting how in the space of one month three different publications: The Wall Street Journal, The Economist and Spain' El Pais (unfortunately, all by subscription only), devote articles to the family that created Kola Real. Kola Real was created by the Anano family in Peru during the worst times of...
economics | by Miguel Octavio | 12 Nov, 2003 at 08:31 PM | comments (26) | trackback (0)
The Venezuelan Government will sell US$1 billion in a fifteen year bond in the next couple of weeks. The issue will have a coupon of between 7 and 8% will be sold only to local investors, but will be denominated in US$. Thus, in effect, it becomes a mechanism for...
brazil | by Stephen George | 11 Nov, 2003 at 06:19 AM | comments (22) | trackback (0)
There is clear delight in Brazil this morning after the WTO decision that US tariffs on steel imports are contrary to the rules of the agreement, and the economy pages of the papers are dominated by the news. Brazil's ambassador to the WTO is quoted in O Globo this morning...
economics | by Miguel Octavio | 09 Nov, 2003 at 08:36 PM | comments (24) | trackback (0)
According to local newspaper El Universal, Cuba has converted more than one million hectares of sugar growing land to other crops and the country is no longer producing sufficient sugar for its own consumption. A total of 70 sugar concerns were sutdown as production, which in 2001 and 2002 reached...
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" Economic news (good & bad) | Miguel Centellas
" My Peruvian Hero: Hernando De Soto | Claudio Shikida " Remittances On The Rise | Edward Hugh " Brazil: China Connection II | Edward Hugh " Mexican Inflation Bites on the Beef Bone | Edward Hugh " Mesa's on the ropes | Miguel Centellas " Mesa's tax woes | Miguel Centellas " Chile's Inflation Hit's Zero Percent | Edward Hugh " Another nail in the coffin of unfettered capital flows? | Mike Derham " US Investors Skittish on Brazil? | Mike Derham
" Economic news (good & bad) | Miguel Centellas
" My Peruvian Hero: Hernando De Soto | Claudio Shikida " Remittances On The Rise | Edward Hugh " Brazil: China Connection II | Edward Hugh " Mexican Inflation Bites on the Beef Bone | Edward Hugh " more from living in latin america...
"For the first time in twenty years of democratic history, Bolivia's facing the harsh realities of presidential politics. For the past two decades, Bolivia resembled a parliamentary system, where every president was supported by a solid legislative majority. Bolivia overcame the governability problem inherent in presidential democracy (read Juan Linz..."
" continue reading Mesa's on the ropes...
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