EXCLUSIVE The secrets behind the 'Pacto por México'
Major reforms have boosted competition in telecommunications and education
Mexico has become an emerging markets darling, with some praising it as the "New China." But while it is true that Mexico's wage cost competitiveness has improved relative to China, its broader productivity record has been very weak in recent years. Slow productivity growth has been limited by a lack of full implementation of earlier reforms, Latin Business Chronicle reports.
Latin America can handle Federal Reserve's post-stimulus effects
Region prepares for possible end of Reserve's monthly $85 million asset purchase program
Latin American economies are well positioned to withstand capital outflows as speculation increases that the Federal Reserve will roll back its stimulus, said the International Monetary Fund's top official for the region. Banks in the region are better capitalized and asset prices aren't inflated, two important buffers in the event of volatility, he added, Bloomberg reports.
Mantega: Brazil's economy is speeding up
Finance minister dismisses calls for austerity
Brazil's economy is gaining force, industrial output is rising and inflation is falling, showing that concerns about the country's direction are misplaced, Brazil's finance minister Guido Mantega (left) said. But economists close to the Government said the only way to regain economic credibility is to adopt austerity programs, Reuters reports.
Peru and Colombia agree to boost trade, tourism and investment
Agreement includes an integrated customs system to ease foreign trade operations
The governments of Peru and Colombia have agreed to promote trade, tourism and investment through closer cooperation between the public and private sectors, and development of small enterprises. The agreement was signed at the 5th Meeting of the Peru-Colombia Binational Technical Committee on Trade, Tourism and Investment. Andina reports.
Colombia finance minister cuts growth target to 4.5 percent
First quarter data suggests economy is unlikely to reach 4.8 percent target
Colombia will cut its economic growth target to between 4.4 percent and 4.5 percent, from 4.8 percent at present, the country's deputy finance minister Andres Restrepo said. Official data shows that industrial production has fallen in the past five months, while the value of exports has decreased for six straight months. "But the cut won't be big," Restrepo said, Reuters