Peru’s Central Bank left the benchmark interest rate unchanged at 4.50% for the second month in a row, in line with market expectations. Meanwhile, preliminary figures showed economic growth for the first half of the year slowed to 6%, down from 6.8% recorded in the first quarter.
Category: Regions
Posted inDaily Brief
Costa Rica Rejects Parlacen, Again
Costa Rica’s government has chosen to keep the country out of the Central American parliament, Parlacen, saying it is a costly institution that brings no benefit. Guatemala, which plays host to Parlacen, had asked the new government of Oscar Arias to reconsider the country’s decision to remain out of the parliament. Costa Rica has earned criticism from its neighbors and has been accused of isolationism for its stance. Permanent members of the parliament are Dominican Republic, El Salvador, Guatemela, Honduras, Nicaragua, Panama.
Posted inDaily Brief
AMLO Rallies Crowds
The loser of last Sunday’s Mexican presidential elections, Andrés Manuel López Obrador (AMLO), rallied thousands of supporters in Mexico City at the weekend to demand a manual recount of the votes. AMLO believes a vote-by-vote recount will find him victorious against rival ruling party candidate, Felipe Calderón, who has been declared the winner. AMLO has until July 10 to file a complaint with the electoral court which must then settle all claims by end-August in order to declare the next president by September 6.
Posted inDaily Brief
Colombia Names UIAF Head
Mario Aranguren has been named head of Colombia’s financial intelligence unit (UIAF), a section within the ministry of economic affairs responsible for investigating suspicious financial operations. Aranguren is currently serving as Colombia’s consul in Curaçao and was formerly head of Colombia’s customs agency, DIAN.
Posted inDaily Brief
Ecuador Records Second Month Of Deflation
Ecuador has registered its second consecutive month of deflation. Official figures for June just released show deflation of 0.23%, after a decline in prices of 0.14% in May. The fall in consumer prices was attributed in large part to retail promotions; government officials deny it signals a recession. The government has targeted inflation this year of 3.1%. Inflation to May was running at 1.54%.
Posted inDaily Brief
Calderón Scrapes Home
Felipe Calderón, Mexico’s ruling party candidate, has scraped home to win the presidential election. Following Wednesday’s recount, the pro-business, PAN party leader won the backing of 35.88% of the electorate against 35.31% earned by his nearest rival, left-of-center Andrés Manual López Obrador (AMLO). However, AMLO has said he will challenge the result. The electoral court must settle any challenges by the end of August and must announce a new president by September 6.
Posted inDaily Brief
Morales Wins, But Divisions Remain
Despite being heralded as a great victory for the ruling MAS party, Bolivia’s elections Sunday have not gone entirely president Evo Morales’ way. Preliminary results show that MAS failed to gain a two-thirds majority to control the constituent assembly charged with drafting a new constitution for the country. And the issue of autonomy has underscored the social division in Bolivia: the four wealthiest provinces voted “yes” to more autonomy.
Posted inDaily Brief
AMLO Demands Thorough Recount
Presidential candidate Andrés Manuel López Obrador (AMLO), who appears to be trailing in Mexico’s Sunday election, has demanded a thorough recount of the votes. A preliminary count gives AMLO’s rival, ruling party candidate Felipe Calderón, a 0.64% advantage. The Mexican electoral institute, IFE, said it hoped to have a final result by Sunday.
Posted inDaily Brief
New President For Cofetel
Héctor Osuna Jaime has been named head of Mexico’s telecoms regulator Comisión Federal de Telecomunicaciones (Cofetel). The regulator has been virtually inactive since April when four key board members resigned over upcoming regulation. The changes to the law, known popularly as Ley Televisa, will take power away from Cofetel in favor of the transport and communications ministry and is seen by critics to benefit dominant TV broadcasters.
Posted inDaily Brief
Televisa May Sell Univision Stake
Mexican media group Televisa, which failed in its bid to buy Univision, the largest Spanish-language broadcaster in the US, has offered to sell its stake in the US company to the group of investors that bought the broadcaster last month. It has put forward an offer price of $36.25 per share for its 11% stake to the Providence and Saban group that successfully bid $12.3 billion for Univision. The sale would free Televisa from an agreement that restricts its expansion in the US market.