EXCLUSIVE Storm clouds gathering over Latin America?
Mexico is safe thanks to low levels of consumer credit, say experts
Global markets have been tumultuous this past week since U.S. Federal Reserve Chairman Ben Bernanke announced that the United States could begin tapering off its policy of quantitative easing as soon as the end of this year. Many worry that as the sources of cheap and easy financing dry up, the region could find itself in dire straits, Latin Business Chronicle reports.
Colombia signs agreement with North American Treaty Organization
Minister says Colombia wants to learn from Nato, particularly in fight against terror and drugs
Colombia on Tuesday signed an information exchange agreement with the North American Treaty Organization, Nato, an unprecedented move for a Latin American country and a first sign of closer cooperation that already has several of the region's leftist leaders up in arms. But Nato ruled out any possibility of Colombian membership, Business Recorder reports.
Mexico brings light to shadow economy
Six in 10 Mexican workers in informal jobs
Seeking to dismantle a black economydragging on economic growth, Mexico wants to lure informal workers into the social security net, and the reach of the tax man. "The country loses up to 4 percentage points of gross domestic product every year because 60 percent of its workers don't generate any taxes, labor Minister Alfonso Navarrete (left) said, Reuters reports.
Ecuador risks trade problems with USA if it helps Snowden
“The risks are enormous,” said Michael Shifter, president of the Inter-American Dialogue
President Rafael Correa of Ecuador has more than just the ire of United States to consider as he weighs an asylum request from Edward Snowden, the fugitive intelligence contractor trying to dodge American authorities. If he grants asylum to Snowden, he could be risking the preferential status on Ecuadoran goods exported to the USA, The New York Times reports.
Paraguay to become region's fastest growing economy this year
Central Bank forecasts growth this year at 13 percent, based on rebound in grain production
Paraguay's economy expanded almost 15 percent in the first quarter compared with the same period last year, driven mainly by farming, cattle-ranching and construction activity, the central bank said. The country debuted on global credit markets in January with the sale of $500 million in bonds, and more international debt could be issued in the future, Bernama reports.