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?
Witnesses at the airport said that a few minutes after takeoff they heard a significant explosion followed by a huge fireball.
The passengers were members of the Argentine company La Rural which is an associate in a project to exploit a Convention Center under construction in the Atlantic resort of Punta del Este and had flown to Uruguay for a business conference with their Uruguayan partners and the local government.
La Rural is a leading company in Argentina and Latin America in the fairs, congress and events industry.
“It can be said with certainty that the highest-echelon Iranian government officials were directly responsible for the AMIA attack . . .We will show that said officials made the decision to carry out the attack, defined the manner in which it was to be implemented, and instructed the terrorist organization Hezbollah to carry out the operation in its capacity as a mere instrument, in this case, of the will of the Teheran government . . We will also show that for Iran’s leaders, there was nothing unusual or exceptional about the realization of an attack of this nature. To the contrary: an analysis of the information that has been gathered in this case shows beyond a shadow of a doubt that the realization of acts of terrorism abroad was not the outgrowth of an unusual foreign policy instrument, but was instead based on the principles of the Iranian revolution of February 1979, the ultimate goal of these principles being to propagate Iran’s fundamentalist view of Islam throughout the world.”
To most, the Venezuelan government’s ability to brutally stifle student protests, is a capacity developed by the Cuban regime whose intelligence and military direct many aspects of Venezuela’s national security apparatus. While mostly true, this excludes another vital player that has enhanced Venezuela’s foreign internal defense, the Iranian paramilitary force known as the Basij.
In April 2009, the current Iranian commander of the Basij paramilitary force, Brig. Gen. Mohammad Reza Naqdi, accompanied then-Iranian Defense Minister Gen. Mostafa Mohammad-Najjar on a high-level visit to Caracas at the invitation of then-Venezuelan President Hugo Chavez and his foreign minister (now President) Nicolas Maduro. Gen. Naqdi’s role in these high-level meetings was to serve as an advisor to Venezuela’s Ministries of Defense and Interior to aid in training their civilian militias, known as the infamous colectivos’. Years later, the results of this advisory support are evident on the streets of Venezuela as the colectivos’ tactics are a step-up in its previous capabilities, to include new clandestine communication and infiltration/espionage techniques.
Gen. Naqdi, who previously served as the Iranian Police Force’s counterintelligence chief, has a long list of human rights violations dating back to the 1999 student protests in Iran.
In Latin America, transnational threats such as drug- and arms- trafficking and special interest alien transit, coupled with porous borders, have increased insecurity and challenged stability and prosperity. Moreover, outside actors are increasingly seeking to challenge the U.S. as the defense partner of choice in the region.Read the full report.
Investment funds of Franklin Resources Inc. and OppenheimerFunds Inc., which hold more than $1.5 billion in bonds issued by the Puerto Rico Electric Power Authority, convinced a federal judge in San Juan that bankruptcy law and the U.S. Constitution trump the commonwealth’s legislation.
The law, passed under threat of a fiscal emergency, would have allowed public utilities such as the power authority, or Prepa, to negotiate with bondholders to reduce their debt loads, potentially forcing investors to accept unfavorable terms, according to the funds’ complaint.