Venezuelans head to the polls in regional elections this weekend that will gauge the opposition’s chances of gaining power as President Hugo Chavez’s frail health increases the likelihood of a new national vote early next year.
RBS Securities Inc. lifted its forecast for Argentine economic growth this year to 7 percent from 4.4 percent, citing the likelihood that President Cristina Fernandez de Kirchner ’s administration will fuel consumption ahead of 2011 elections.
Jamaica’s borrowing costs are surging to the highest level in nine months after defaults by two Caribbean neighbors combine with the region’s slowest economic growth prospects to undermine investor confidence.
Venezuela’s bolivar is tumbling to a record low in the unregulated street markets of Caracas as individuals and companies seek to buy a shrinking number of dollars, adding to the region’s highest inflation rate.
Venezuela posted economic growth in excess of 5 percent for a second quarter in the three months through June as oil revenue allowed President Hugo Chavez to boost spending on social programs ahead of October elections.