Monday Memo: Peru Spying Allegations—Argentine Debt—Costa Rican Energy—Venezuelan Opposition—Mexican Missing Students Case
This week’s likely top stories: Intelligence chiefs to be replaced in Peru; Citigroup is permitted to process Argentine debt payment; Costa Rica sets global clean energy record; former Spanish PM to defend Venezuelan opposition leaders; Ayotzinapa victims’ families visit Amnesty International. Peruvian Intelligence Chiefs Fired amid Spying Allegations: The Peruvian Presidency of the Council of … Read more
Monday Memo: Venezuela Enabling Law—U.S.-Cuba Talks—Mass Protests in Brazil—Hydroelectric Projects in Bolivia—Public Wi-Fi in Cuba
This week’s likely top stories: Opposition alarmed by President Maduro’s power of decree; U.S. and Cuba continue talks; Brazilian citizens protest corruption; Bolivia and Brazil to sign energy agreement; Cuba allows first public wi-fi center. President Maduro Given Power to Rule by Decree: Venezuelan President Nicolás Maduro was given the power to rule by decree … Read more
The Price of Oil’s Impact in Latin America and the Caribbean
In June 2014, West Texas Intermediate, a benchmark crude oil grade, sold at $106 dollars per barrel. In early December, the price closed at $65 dollars per barrel, and is currently trading at just over $50 dollars per barrel. This precipitous decline has had an adverse effect on oil producers in Latin America—in particular, countries … Read more
Stay on the Korean Wave, Latin America
The perception Korea once held of Latin America—of lazy workers and inefficient governments—has drastically changed today. From an entire floor dedicated to South Korean music, cuisine and clothes at a mall in Peru, to the first Korean Cultural Center in Argentina, to the United States Ambassador to Costa Rica singing and dancing to Psy’s Gangnam … Read more
Monday Memo: Peru-Chile Relations—Panama Hydroelectric Dam—Guatemala-Honduras Customs—São Paulo Drought—Venezuela Conspiracy Charges
Allegations of Espionage Threaten Peru-Chile Relations: Chilean Minister of Foreign Affairs Heraldo Muñoz announced on Sunday that Chilean Ambassador Roberto Ibarra would not return to his post in Peru in light of the country’s espionage complaints against Chile. On Friday, Peruvian Ambassador Francisco Rojas Samanez was recalled to Lima after Peruvian prosecutors claimed that several Peruvian … Read more
Pemex Suspends Deep Water Projects
Emilio Lozoya, the CEO of Petróleos Mexicanos (Mexican Petroleums—Pemex), announced Wednesday that some of the company’s deep water exploration projects would be put on hold due to the declining prices of crude oil. In addition to scaling back on research projects, Lozoya said that job cuts would also be part of a spending cut of … Read more
Peruvian Protest against Pluspetrol Turns Deadly
One person died and dozens more were injured after a protest against the Argentine energy company Pluspetrol turned violent late Tuesday night. A 25-year-old man, who was identified as Ever Pérez Huamán, passed away Wednesday morning after receiving a bullet wound to the abdomen. Police representative Edwin Rojas has said an investigation is underway to … Read more
La barbarie venezolana
El año comenzó con eventos que conmocionaron al mundo y llamaron a reflexionar sobre seguridad, radicalismo y civilización. Venezuela no fue inmune al contexto internacional. El 31 de enero de 2015, Caracas difundió una nota de pesar por el asesinato del periodista japonés Kenji Goto. En tres párrafos, el presidente Nicolás Maduro condenaba “enérgicamente” su decapitación. En las … Read more
Costa Rica to Invest $100 Million to Modernize Border Crossings
The Inter-American Development Bank (IDB) approved $100 million dollars for Costa Rica to modernize its border-crossing infrastructure, the Ministry of Finance announced on Tuesday. The plan seeks to bolster trade competitiveness at Costa Rica’s four border crossings with Nicaragua and Panama. In late 2014, Nicaragua completed the construction of a bridge at the Las Tablillas … Read more
No: The Constraints to Developing Renewables are Too High
While many have suggested that renewable energy can be a viable alternative for countries dependent on Venezuela’s PetroCaribe, it cannot address the region’s short-term energy needs. While there could be potential long-term savings, the short-term costs of investing in renewables, the declining cost of non-renewables, and the need to overhaul existing energy infrastructure are formidable … Read more
Yes: Renewables Are a Start—But NAFTA Has to Help.
The current situation cannot continue. The news of oil sinking to around $60 dollars per barrel, combined with Venezuela’s large fiscal deficit and deteriorating economy, makes the country’s annual $8 billion oil subsidy to PetroCaribe nations increasingly unsustainable. The question is, what will replace it. Fortunately, the 17 member countries of PetroCaribe don’t have to … Read more
Paralyzed on Economic Reforms, Venezuela Will Mortgage Citgo
Since before the death of Venezuelan President Hugo Chávez in March 2013, his successor, Nicolás Maduro, has remained paralyzed to enact reforms needed to escape the economic dysfunction Chávez left behind. In his latest national address on the economy on January 21, Maduro finally acknowledged the recession and shortages faced by Venezuelan citizens. Yet, … Read more
Addressing Caribbean Energy Security
On January 26, the Council of the Americas and the Atlantic Council co-hosted the Caribbean Energy Security Summit. The summit, convened by Vice President Joseph Biden, brought together Caribbean leaders, multilateral banks, private sector representatives, and U.S. government officials in order to address the critical issue of energy security in the Caribbean basin. The summit demonstrated … Read more
Monday Memo: Venezuela Protests – Haiti Elections – Caribbean Energy – AT&T – Brazil Olympics
This week’s likely top stories: Venezuelan opposition leaders halt protests in Caracas; Haiti swears in its nine-member Provisional Electoral Council; the U.S. hosts the first-ever Caribbean Energy Security Summit; AT&T acquires Nextel Mexico; Rio’s environment secretary announces that Guanabara Bay will not be clean in time for the 2016 Olympic Games. Opposition Curbs Protests in … Read more
Chasing Unicorns in Brazil
On the border of Brazil and Paraguay, David Rodrigues Krug is chasing a unicorn. That’s how he describes his work at the massive Itaipu Dam on the Paraná River, which forms a natural border between the South American neighbors. In three decades of operation, the five-mile-wide, 65-story dam has come close to generating 100 billion … Read more
