Colombia’s Economic Success Story
Upcoming presidential elections and ongoing peace negotiations demonstrate Colombia’s consolidation of rule and law and democracy. President Juan Manuel Santos is seeking re-election, and free and fair elections have been a mainstay in the country since 1957—one of the longest stretches in Latin America. Moreover, the peace process, underway since October 2012, is a notable … Read more
Monday Memo: Costa Rican Elections – U.S. Deportations – Venezuela-Spain Spat – FIFA Delays
Unchallenged Costa Rican Candidate Wins Presidency: Luis Guillermo Solís of the Partido Acción Ciudadana (Citizen Action Party—PAC) won Sunday’s presidential election in Costa Rica, claiming 78 percent of the vote. The challenging candidate, Johnny Araya of the Partido Liberación Nacional (National Liberation Party—PLN), dropped out of the running after a March 5 opinion poll ranked … Read more
Monday Memo: Investment in Cuba – Venezuela – Costa Rican Elections – Rio Police – Mining in Peru
Cuba Approves New Foreign Investment Law: The Cuban government on Saturday unanimously approved a law that provides new incentives for foreign investment in the island. The law will reduce taxes on profits from 30 to 15 percent in most areas, will speed up the approval process for foreign investment, and will exempt new investors from … Read more
Can Venezuela’s Economic Strategy Keep Protests From Spreading?
As protests continue in Venezuela, the government of President Nicolás Maduro has sought to delegitimize protests and isolate them in middle-class areas in the hope that they will burn out. The president’s rhetoric aims at inciting poorer citizens against student and middle-class protesters, who he blames for food shortages, and soaring inflation and by “sabotaging … Read more
Argentina Struggles with Soaring Inflation
As surging inflation takes a toll on Argentine consumers, the Argentine government affirmed on Tuesday that it would levy fines against supermarkets who fail to respect voluntary price controls that many stores and wholesalers agreed to in December. On Tuesday, Chief of Cabinet Jorge Capitanich said that the details of the new sanctions would be … Read more
USTR Head Announces Enviro Trade Negotiations in Davos
U.S. Trade Representative Mike Froman announced today in Davos that the United States would join others including China, Canada, the EU, and Japan to negotiate freer global trade in environmental goods. An economic sector estimated at over $950 billion annually, the market for such products is already significant and it is only expected to grow. … Read more
Argentina Adopts New Restrictions on Online Purchasing
The Argentine government adopted new legislation limiting online buying on Tuesday in an effort to defend domestic production. The resolution, adopted by Argentina’s tax agency, the Administración Federal de Ingresos Públicos , and published in the Boletín Oficial, restricts Argentines to two tax-free purchases of up to $25 on foreign-based websites per year, with a … Read more
Cuba Under Raúl Castro: Assessing the Reforms by Carmelo Mesa-Lago and Jorge Pérez-López
When Cuban President Raúl Castro first assumed power in 2006 after his bombastic brother, Fidel, fell ill, few knew what to expect. Some believed his custodianship of the presidency would be short-lived and that the island’s longtime Líder Máximo would surely come roaring back. Others simply assumed Raúl would follow in his brother’s footsteps, shepherding … Read more
Canada-EU Trade: Free Trade Fever Up North
Just recently, Canadian Prime Minister Stephen Harper came to Montreal’s Board of Trade to laud the benefits of the Canada-Europe Trade Agreement (CETA). Choosing Montreal was a recognition of the support provided by the city’s business leaders and the Québec government for the free trade accord. Sitting at the head table was a former Conservative … Read more
Cuba: Port Upgrades and Free-Trade Zones
When Latin American and Caribbean heads of state gather in Cuba in January 2014 for the Comunidad de Estados Latinoamericanos y Caribeños (Community of Latin American and Caribbean States— CELAC) summit, the agenda will include a side trip to Mariel Bay. There, Brazilian President Dilma Rousseff and Cuban President Raúl Castro will cut the ribbon … Read more
Policy Updates
A snapshot of policy trends and successes in the region.
Monday Memo: Supreme Court and Argentina – Michoacán Violence – Pope Names Cardinals – Nicaragua Canal – Venezuelan Bolivars
Likely top stories this week: the U.S. Supreme Court will look at Argentina’s debt case; Michoacán’s government asks for help; Pope Francis names Haitian, Brazilian, Nicaraguan and Chilean cardinals; President Ortega says that Nicaragua Canal construction will begin this year; Air Europa rejects Venezuelan customers’ bolivars. Argentina’s Bondholder Battle Goes to U.S. Supreme Court: The … Read more
Bailout for Puerto Rico? Not Likely.
All eyes were on Detroit earlier this month as Federal Judge Steven Rhodes ruled that the city could discharge public pensions, along with other debt, as it restructures under Chapter 9 bankruptcy. While other cities look at the ruling as a viable—though unfortunate—solution for their financial woes, there is one especially troubled economy that will … Read more
Workers Strike at World Cup Site in Amazon
Three hundred construction workers went on strike in the Brazilian city of Manaus on Monday after a fellow worker, Marcleudo de Melo Ferreira, fell to his death on Saturday. The workers of the Arena Amazonia stadium have demanded better conditions, saying that the pressure to complete construction is affecting their safety. The Prosecutor’s Office has … Read more
Monday Memo: Michelle Bachelet – Gustavo Petro – USAID in Ecuador – FARC Ceasefire – Kidnappings in Mexico
Likely top stories this week: Former President Michelle Bachelet wins Chile’s presidential elections; Protesters rally in support of ousted Bogotá Mayor Gustavo Petro; USAID plans to pull out of Ecuador by September 2014; the FARC’s 30-day ceasefire goes into effect; a study finds that Mexico leads the world in kidnappings. Michelle Bachelet Wins Chilean Elections: … Read more
