June 19, 2013

Abel Halpern June 19, 2013

EXCLUSIVE Where are the Brazilian protests going?
Demonstrations could have an effect on the country's October 2014 presidential elections

Nearly a quarter million people have taken to the streets in Brazil’s largest cities in the past week in the largest demonstrations the country has seen in 20 years. Professor Marcos Troyjo, director of Columbia University’s BRICLab, says the protests reflect a sector of the population that is increasingly frustrated with Brazil’s state capitalist system, Latin Business Chronicle reports.

World Bank: Latin America will reach first world economies in 2025
Study shows social inequality is the main reason for the delay

All studies show that Latin America has come a long way in economic growth and progress, but a new report by the World Bank advised that the region will not reach the level of stability of rich countries until 2052. The study points out areas that need work, such as fiscal policies, transparency, institutional efficiency and market accessibility, The International Business Times reports.

Paraguay uncertain about Mercosur
With Paraguay out of the way, the bloc is free to welcome Venezuela

Paraguay's Foreign Minister Jose Felix Fernandez Estigarribia said he has yet to see a "clear signal" from the South American Common Market, Mercosur, for his country's reentry a year after it was suspended from the trade bloc. "The member countries said the sanctions against Paraguay would last until new elections are held. Elections have been held and there has been no news," said Fernandez, referring to the presidential elections held on April 21 this year, Xinhua reports.

Chinalco approves $1.32 billion expansion of Peru copper project
Company is already investing about $3.5 billion to develop Toromocho

China's Chinalco Mining Corp. has approved a $1.32 billion expansion project for its Toromocho copper mine in central Peru. The company said the expansion could increase production capacity by 45 percent. The expansion project is expected to be 'substantially completed' by the second quarter of 2016, Chinalco said The Wall Street Journal reports.

Argentina banks on railroads to prolong soybean boom
China has offered a total of $10 billion in loans to revamp the Belgrano railroad

Argentina’s nationalization of two railroads in the past month paves the way for the renovation of a network from the foothills of the Andes to the coast, cutting transport costs in the world’s third-largest soybean producer. “The only way to boost grains and oilseed output is to recover the cargo lines" said Marcelo Bosch, who was appointed as the director for the state railroad, Bloomberg reports.

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