Walter Molano News
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China will help the Inter-American Development Bank finance $12 billion in loans for Latin America and the Caribbean this year as the region struggles to recover from the global financial crisis.
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When outside investors like Hans Humes look at Argentina, they see a country that has missed its moment.
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The International Monetary Fund’s historic rebuke of Argentina is likely to cement its outcast status among global investors while failing to persuade the government to boost the credibility of its economic data.
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Carlos Slim ’s Mexican holdings from mining to communications helped him beat Bill Gates and Warren Buffett on the stock market for the second straight year, and gains in 2011 may widen his lead atop the global wealth list.
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Argentine President Cristina Fernandez de Kirchner’s efforts to stem capital outflows and extend her control over South America’s second-largest economy has brought growth to a standstill.
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Former Argentine President Nestor Kirchner , who antagonized investors in the aftermath of the country’s $95 billion debt default before handing power to his wife in 2007, died of a heart attack today. He was 60.
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Argentina’s seizure of oil company YPF SA is making the country an outcast at the International Monetary Fund meetings in Washington, where the Obama administration is increasingly punishing President Cristina Fernandez de Kirchner’s government for abusing foreign investors.
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Argentine Economy Minister Amado Boudou said that he intends to run for mayor of Buenos Aires and said the current city government has been a “failure.”
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Since February, consumers and businesses in Argentina have found it increasingly hard to find various imported items -- electrical equipment, certain prescription drugs, machinery parts, bananas, and salmon.
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Even Jim O’Neill is asking whether the BRICs need reinforcing 11 years after he coined the term to describe the world’s future powerhouse economies.
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