Mary O’Grady writes about the reasons behind Peru’s recent economic success: A market model that allows for
a vibrant consumer class that is entrepreneurial and creative
openness to imports
structural reforms that included ending a punishing system of import tariffs and quotas
fiscally conservative governance.
Still, the downturn in commodity prices is eating into growth and the slowdown that began last year continues. Market forecasts for GDP growth are in the 3% range for 2015. Peru’s economy is performing far better than most in the region, but lackluster is not what Peruvians have come to expect.
The obvious answer to this lethargy is more aggressive trade opening on key products like sugar and corn, more tax cutting and deregulation. But Mr. Humala’s popularity is sagging and he is unlikely to do anything bold. Meanwhile, opponents of economic freedom will turn slower growth into opportunity by linking stagnant incomes in the market economy and corruption.
On a seemingly unrelated topic,
The Obama administration insists on easing restrictions on Cuba’s merciless Communist dictatorship while Cuba’s dependence on Venezuelan oil goes bust. Once Cuba’s economy improves cosmetically (because you can bet those in power will not give up their acquisitiveness), the Cuban propaganda machine will use this as another tool in its propaganda arsenal against market economies.
No matter how ruinous Cuban-driven Chavismo is in real life; propaganda is the only thing Cuba’s regime is good at, and it is particularly effective in Latin America.
As it enters the final stretch of a massive expansion, the Panama Canal Authority is setting its sights on an even more ambitious project worth up to $17 billion that would allow it to handle the world’s biggest ships.
Workers are now installing giant, 22-story lock gates to accommodate larger “Post-Panamax” ships through the Canal, one of the world’s busiest maritime routes.
The project involves building a third set of locks on the Canal. It is being headed by Italy’s Salini Impregilo and Spain’s Sacyr, and should open on April 1, 2016.
The new Uruguayan government says it will no longer grant asylum to prisoners from the Guantanamo Bay detention centre.
In December, Uruguay gave sanctuary to six Arab men who had been held at the US base in Cuba for 12 years.
Opinion polls said most Uruguayans rejected the decision taken by outgoing President Jose Mujica.
Foreign Minister Rodolfo Nin Novoa also said Uruguay would stop taking refugees from the Syrian conflict.
Does that mean they’ll kick Syrians Jihad Abu Wael Dhiab, Ali Husain Shaaban, Ahmed Adnan Ajuri, and Abdelhadi Faraj, Palestinian Mohammed Abdullah Taha Mattan, and Tunisian Adel bin Muhammad El Ouerghi out of the country?
The body of a key FARC commander has been found in a grave in south-central Colombia, the Colombian army claimed on Wednesday.
The commander of the guerrillas’ 66th front, “Pedro Nel,” was found in an improvised grave in the Planadas municipality in the Tolima state.
According to the military, the deceased guerrilla commander was severely injured in combat with a military unit in the nearby Neiva department on March 12 when his unit was collecting extortion payments.
However, Pedro Nel was able to escape and fled to Tolima where he died hours after the clash with the military, according to the National Army’s 9th Division.
Army commander General Jaime Asprilla told press that the death of “Pedro Nel” “seriously affects the Central Joint Command [block] of the FARC” that is active in the Tolima and Huila states.
The ringleader’s death is the second important combat kill reported by the army this month.
Communist Cuba’s alliance with the Iran of the Ayatollahs dates to 1979, when Fidel Castro became one of the first heads of state to recognize the Islamic Republic’s radical clerics. Addressing then-Supreme Leader Ayatollah Khomeini, Castro insisted that there was “no contradiction between revolution and religion,” an ecumenical principle that has guided Cuba’s relations with Iran and other Islamic regimes. Over the next two decades, Castro fostered a unique relationship between secular communist Cuba and theocratic Iran, united by a common hatred of the United States and the liberal, democratic West — and by substantial material interests. (In the photo, Iran’s Vice President Mohammad Reza Rahimi and Cuba’s Vice Foreign Minister Marcos Rodriguez attend a wreath-laying ceremony on Revolution Square in Havana on Sept. 7, 2011.)
Suchlicki recommends that Washington address Havana’s troublesome alliances with rogue regimes; I’m cynical enough to say it already has.
[Investigator Bruno] Jost had a major advantage. He was investigating in the shadow of the World War II blunders and the fundamental transformations that the German justice system had undergone. By the time the trial was set to begin, Tehran was no longer the focus of popular attention. Now, it was Germany, herself, on trial, with something grand to prove about her own credibility and the authenticity of her reformation.
Whether the same spirit can cross over into another continent to move the course of the Argentines’ investigation is to be seen. But this much is for sure: The sum of the 1994 AMIA bombing, Iran’s lethal role, the misconduct of former President Carlos Menem, an alleged conspiracy to halt the nuclear negotiations, the mysterious murder of Alberto Nisman, and the alleged corruption of President Cristina Kirchner or the Argentine Intelligence all add up to something larger. It is about Argentina herself, the state of her republic, and whether the ghosts of its dirty past are truly buried or still lurking in the shadows.
Most financing operations from China to Ecuador have been tied to oil sales and several have been backed with presales of crude oil.
Mr. Herrera said the new loans aren’t linked with the selling of crude oil.
The minister said despite the decline of around 50% in oil prices, the Andean country plans to maintain its level of public spending this year, thanks to loans from China, credits from multilateral lenders and governments as well as the selling of Ecuadorean bonds in international markets and domestic debt.
The minister, however, ruled out that the country plans a new bond issue in international markets, citing high interest rates.
Last Thursday the country sold $750 million of five-year bonds at a yield of 10.5%.
In plain words, it sold $750 million worth of junk bonds.
In addition, Colombian police officers allegedly provided “protection for the DEA agents’ weapons and property during the parties,” the report states. Ten DEA agents later admitted attending the parties, and some of the agents received suspensions of two to 10 days.
. . .
“The foreign officer allegedly arranged ‘sex parties’ with prostitutes funded by the local drug cartels for these DEA agents at their government-leased quarters, over a period of several years,” the IG report says.
High-level Venezuelan defectors then started talking to Veja journalist Leonardo Coutinho. They told Veja that Aeroterror came to be a biweekly flight that carried drugs and cash to finance Iran’s activities in South America, and that it would stop in Damascus to pick up fake passports and other documents to ensure that Iran’s agents could move freely once they arrived in Caracas.
Aeroterror. Let that sink in for a moment.
Reports indicate that Chavez and Ahmadinejad planned Aeroterror at a meeting Caracas back in 2007, during which Ahmadinejad also asked Chavez to help him get Argentina to help Iran with its nuclear program. Since then, Iran has only strengthened its ties to South America.