What Greece Can Learn from Argentina
Given the similarities between millennium-era Argentina and today’s Greece, some wonder if a Greek default and currency exit might not be the worst option for Athens. However, Argentina’s “recovery” would not easily be replicated and the Argentine model should not be considered a blueprint for Greece. Europe has much to learn from the Argentine default … Read more
The Pacific Pumas
As the world grapples with generating employment, growth and innovation, a new club of countries has emerged as an engine of regional growth. Through improved governance, liberalized trade and stable macroeconomics, the economies of Mexico, Colombia, Peru, and Chile have rallied in recent years. Rather than following the lead of the increasingly protectionist and interventionist … Read more
Venezuelan Currency Devaluation Goes into Effect
After the Venezuelan government announced its intention to devalue its bolívar currency late last week, the 32-percent shift in its exchange rate—from 4.3 to 6.3 bolívars to the dollar—went into effect yesterday. It is Venezuela’s fifth devaluation in nine years; the previous devaluation occurred in January 2010. Yesterday, the bolívar reached its lowest value, having … Read more
Aerospace: An Emerging Mexican Industry
Airplanes have many parts, from seatbelt buckles and massive brake pads to thousands of precision-shaped screws. In fact, Boeing, the U.S. aerospace behemoth, brags that its 747s are composed of 6 million individual pieces. Multiply that by 35,000—the number of new airplanes needed to meet world demand over the next 15 years—and the opportunities for … Read more
Innovation: The Case of Chile
How do you “start up” a start-up ecosystem? That was the question facing Chile in 2010, as the Corporación de Fomento de la Producción (Chilean Economic Development Agency—CORFO) and the Chilean Ministry of Economy looked for ways to encourage innovation and entrepreneurship. Despite Chile’s strong economic performance, its business culture did not have a history … Read more
Monday Memo: Impact of Venezuela Regional Elections – Mayans Prepare for End of the Thirteenth [i]B’ak’tun[/i] – Peru, Chile Demine Shared Border – and more
Top stories this week are likely to include: Strong chavista performance in Venezuelan regional elections; Mayan peoples celebrate the thirteenth b’ak’tun; Argentina faces international fiscal isolation; and Peru and Chile sign a pact to remove mines from their shared border. Impact of Venezuela Regional Elections: Although Venezuelan President Hugo Chávez’ health remains uncertain after a … Read more
Latin America’s Real Middle Class
Articles: Not Poor, But Not Middle Class Yet by Luis Felipe López-Calva Defining the middle class reveals a new vulnerable segment, and a new policy challenge. Full text available. Latin America’s Middle Class in Global Perspective by Jamele Rigolini Different patterns of economic growth in BRIC countries have brought different social changes. Full text available. … Read more
Americas Competitiveness Forum Kicks Off in Cali
Representatives from various governments, multilateral organizations, businesses, and academic institutions gather in Cali, Colombia, today for the first of a three-day conference known as the Americas Competitiveness Forum (ACF). The ACF seeks to promote economic growth and innovation in the hemisphere. The sixth ACF is being organized by the Colombian Ministry of Commerce, Industry and … Read more
Santos Back at Work After Surgery
Colombian President Juan Manuel Santos resumed his governmental duties on Monday after undergoing surgery to remove a non-aggressive, cancerous tumor from his prostate in Bogotá last Wednesday. Following a prognosis with a 97 percent chance of a full recovery without chemotherapy or radiation, the president’s doctors deemed the surgery a success. Santos is the … Read more
ECLAC Releases 2012 Economic Survey
Latin America and the Caribbean’s regional economy will grow by 3.2 percent over the rest of 2012 and will improve to 4.0 percent growth in 2013, according to the United Nations Economic Commission for Latin America and the Caribbean (ECLAC). The 2012 Economic Survey of Latin America and the Caribbean, which forecasts macroeconomic conditions in … Read more
Argentina Reacts to IMF Warning
In a speech during the United Nations General Assembly in New York, Argentine President Cristina Fernández de Kirchner replied to the IMF’s warning of sanctions by rejecting its claims that the country is going through a rough economic situation. International Monetary Fund Managing Director Christine Lagarde warned Argentina during a conference at the Peterson Institute … Read more
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