Posts Tagged ‘St. Kitts-Nevis’

The Argentinian economy Carnival of Latin America and the Caribbean

Monday, January 12th, 2009


Welcome to the Carnival of Latin America and the Caribbean. If you would like your links included please email me: faustaw2 “at” gmail “dot” com.

This week’s top stop stories:
Venezuela’s support of Hamas, and Argentina’s bleak economic outlook.

Last week Chavez expelled the Israeli ambassador to Caracas. Yesterday he was threatening to expel the American Charge d’Affaires in Caracas, John Caulfield, for going to a wedding in Puerto Rico. Chavez claims Caulfield was plotting against him…at the wedding.

Argentina’s economic outlook is bleak, and not likely to improve over the short term. While the country has been invited to the G20 summit and may be distancing itself from Caracas’s influence, government spending is out of control,

Argentina’s Ministry of Economics estimated in midsummer that the country was carrying about $150 billion in debt. The government has been borrowing from anyone who will lend — namely, the captive domestic bond market and regional ally Venezuela — at high interest rates to fund its populist programs, which include steep energy subsidies and the outright nationalization of six (now seven, counting Aerolineas) companies. Payments on Argentina’s debt will total more than $10 billion in the first six months of 2009 alone. At the same time, the government is assuming more and more responsibilities across the board and shows no sign of halting.

Because the 2009 government budget did not take the nationalized pension funds into account, it appeared at first blush that the government might have secured for itself some means of taking the bite out of debt payments with that appropriation. Given that the original budget was based on highly optimistic economic performance forecasts — the global downturn and the decline of Argentina’s agriculture industry notwithstanding –- it was possible to argue that the move was relatively prudent, despite the jitters felt by investors.

But the reality is that Fernandez is increasing spending at such a rate that the administration will quickly burn through the extra cash. This is not typical debt manipulation, but rather, as investors had feared, the outright commandeering of Argentines’ retirement savings to prop up the government’s populist policies.

Setting aside the emotional and financial impact to Argentine workers as they contemplate their futures, the government has ensnared itself in an accounting dilemma. If spending continues in the face of falling revenue and limited credit, Buenos Aires eventually will hit a wall. And so far, its only recourse has been to liquidate what few financial assets remain in-country. Although there could yet be a grand scheme that will compensate for this problem, the government has shown no evidence thus far that one exists. The odds of an outright debt default and a return to the economic crisis of 2002 are growing.

I’ll be talking about Argentina’s economy in today’s podcast at 11AM Eastern.

LATIN AMERICA
The world of the FARC (Part I: Europe)

The world of the FARC (Part II: America)

Going South

Battle for Influence in Latin America

Political Risk Bulletin from Market Memorandum

Spain’s Bets Sour in Latin America

ANTIGUA
Cuban-trained doctors in Antigua denied enrollment as medical practitioners

The Antigua Sun reported that the Antigua and Barbuda Medical Registration Board (MRB) refused to register the documents because, according to the Chairman of the MRB, David Dorset, the requirements were not satisfied that they could practice medicine by themselves.

Additionally Dorset said the applicants had not proven their entitlement to practice medicine in another country. Therefore, they would not be registered in Antigua and Barbuda under the Medical Act.

ARGENTINA
Housing in Argentina. Misery in their midst: A fight over an iconic shantytown

(Update) Argentine Bondholders Win $2.2 Billion in Judgments for Default

BOLIVIA
Sospechosa liberacion de narcos vinculados al MAS

BRAZIL
Lula’s last lap: A freakishly popular president has only a year left before electioneering curtails his mandate. He will spend it reacting rather than reforming

COLOMBIA
Third term temptation: Álvaro Uribe pushes his luck

COSTA RICA
Death toll rises to 9 from Costa Rica quake

CUBA
Like Generation Y, Penultimos Dias got hacked.

The humble

Charts and figures

Change stirring in Cuba

Via The Real Cuba, Havana Cuba, 1930s

Cincuenta años de revolución cubana –2ª parte–

DOMINICAN REPUBLIC
Dominican Republic buys eight planes from Brazil

ECUADOR
Ecuador: Using OPEC Cuts to Take Over the Energy Sector

Ecuador is willing to talk with Colombia

Ecuador 14 January: The Studfather

More Financial Crimes Underway in Correa’s Ecuador

JAMAICA
Jamaican residents forced to flee homes in face of violence

MEXICO
Via Instapundit, New reports about Mexico, the failing state on our border

Ten of Mexico’s Most Notorious Drug Traffickers Extradited to U.S.

NICARAGUA
Ortega se apoya en Chavez y se enfrenta al mundo

PANAMA
Mail Going Outside of Panama

PERU
Peru: As corrupt as ever

PUERTO RICO
Puerto Rico union leaders meet with Economic Advisory Panel

Puerto Rico expands coastal reserve

ST KITTS-NEVIS
Return of the noose: St Kitts has just hanged its first man for a decade and believes it is the only way to beat violent crime

VENEZUELADictatorship for Dummies: Learn how to quash dissent Chávez-style.

Moneda virtual “Sucre” será aprobada en diciembre por el ALBA

Crece el apoyo a Chávez en el Medio Oriente

Government reduces travel quotas for Venezuelan residents Travelers can take out even fewer dollars in order to conserve its US currency reserves.

Israeli Ambassador Expelled from Venezuela

Israeli Ambassador Booted by Hugo Chavez

According to this report, the embassies are closing Las últimas palabras del Embajador de Israel antes de su partida


Embajador Israel
by noticias24

El Loco outreach suspended in Boston

AP: Turkey Holds Iran Shipment to Venezuela

An open letter to the more than 100 Latin American “experts” who criticized the report on Venezuela by Human Rights Watch

Kristallnacht in Caracas?

Venezuela reducing oil to US refineries on OPEC cut

Via IBD: Drilling stops in 17 oilfields
The suspension affected oilrigs in Anaco, El Tigre and Campo Boscán

Crudo venezolano cerró la semana al alza con un precio de US$37.62

(Update) Venezuela Begins Stealth Devaluation After Oil Price Plunge

US POLITICS
Eric Holder and the FALN Pardons

10 Points for President-Elect Obama’s Latin America Strategy

Special thanks to Ada, the Baron, Eneas, Kate, Larwyn, Maggie and Maria.

These week’s posts and podcasts:
The Jews Face a Double Standard
Venezuela expels Israeli ambassador to protest Gaza offensive
Turkey holds Iranian explosives heading to Venezuela, transition purgatory, and other news items
At Real Clear World:
Argentina’s Outlook: Bleak
Bolivia Launches State-Run Media
Podcasts:
Tango
Latin America and Israel
Venezuela expels the Israeli ambassador to protest Gaza offensive, and other headlines from Venezuela
Humberto Fontova talks about the Cuban Communist revolution: 15 Minutes on Latin America
Argentina runs out of change: 15 Minutes on Latin America

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The first 2009 Carnival of Latin America and the Caribbean

Monday, January 5th, 2009

Welcome to the Carnival of Latin America and the Caribbean. If you would like your posts included in next Monday’s Carnival please email me, faustaw2 “at” gmail “dot” com.

Last week Cuba celebrated the 50th anniversary of its Communist revolution. Please check the posts listed under Cuba below for a roundup of articles and posts.

Tomorrow at 11AM Humberto Fontova will be my podcast guest and he’ll talk about the anniversary; in today’s podcast I’ll touch on Bolivia’s new TV station, sponsored by Iran and Venezuela, Argentina’s change shortage, and other headlines.

ANTIGUA-BARBUDA
Antigua-Barbuda opposition criticises PM for taking funds from Venezuela

ARGENTINA
Argentina Is Short of Cash – Literally
Spare some change?

Buenos Aires Becomes IT-Wise
Buenos Aires invites ITC businesses to set up in its forthcoming world-class Technology District.

BELIZE
US Southern Command donates equpment to Belize

Equipment valued at US$27,000 was recently handed over to Belize’s National Emergency Management Organization (NEMO). Ceremonies were held at NEMO’s Warehouse in Belmopan.

The equipment includes more than 500 folding beds commonly referred to as cots and more than 100 sleeping bags. This most recent donation is from the United States Southern Command, based in Miami.

On hand to make the presentation was United States Ambassador to Belize, Robert Deiter. In making the presentation, Deiter said the US, in assisting in the area of management this year alone, made other donations recently to the Belize Defence Force and the National Coast Guard, in addition to training in several villages across the country.

Deiter stated that he is proud of his Mission’s work with NEMO in a region where disasters can and do strike/

BOLIVIA
Catholics oppose Bolivia control freak government

Morales inaugurará diario y canal del Estado con ayuda de Irán y Venezuela

BRAZIL
The samba beat, with missteps: It may be the rising power in the Americas but Brazil is finding that diplomatic ambition can prompt resentment

Confiança da indústria é a menor desde outubro de 1998, diz FGV Business confidence at its lowest since October 1998, via Market Memorandum

CHILE
Chile, interest rates, inflation, Bachelet and the central bank

COLOMBIA
Colombia mata a un Jefe de Finanzas de las FARC y a sus 4 escoltas Colombia kills FARC finance boss and his 4 bodyguards.

Colombia’s Leader Digs In
After U.S.-Backed Successes, Uribe Weighs Extending Reign

Helping the Hostage-Takers: Switzerland and the Reyes Computer Files (English translation)

CUBA
Abused

50 years with Fidel Castro: how many more years of misery for Latin America?

MSM Report Card for stories about 50th Anniversary of Cuban Revolution

Grief Marks Anniversary of Triumph of Castro, via The Corner

Cuban Stalinism at 50–and the Media Lies Continue

Cuba’s Long Black Spring: Video

Castro’s Cuba at 50

“It goes without saying”

One hell of an achievement

Shame on U.S. Media for Idolizing Che Guevara

Cuban Stalinism at 50–and the Media Lies Continue

The Cuban revolution at 50: Heroic myth and prosaic failure

Ill winds: Hurricanes have added to the woes of the downturn

Where’s the “patria o muerte”?

WaPo’s Booth Hails ‘Half-Century of Revolution’ in Cuba

Commemorating 50 Lousy Years

Two new films out this month give the full Hollywood treatment to two very different military and political heroes.

Castro’s One ‘Hell’ of an Achievement

In Cuba, Cellphone Calls Go Unanswered
Growing Ranks Use Coveted Device for Less Costly Paging, Texts

Communism, Socialism Paradise, Cuba

Humberto Becerra Alfonso, Cuban Political Prisoner of the Week, 1/4/09

Historia de una jinetera

ECUADOR
Equador determina pagamento de parte da dívida com o BNDES Ecuador paid $28.1 million of its $243 million loan to Brazil’s National Economic and Social Development Bank Banco Nacional de Desenvolvimento Econômico e Social (BNDES), while Rafael Correa still says the loan is “illegal.” (h/t Market Memorandum)

MEXICO
In Mexico, Hope Lies With the Voters Leon Krauze’s Segunda Edicion broadcasts today at 2PM Mountain time.

Mexicanas sucumben al “sex appeal” de los narcos

Beauty Queen Busted

Mexican criminal insurgency may spread to US

NICARAGUA
Nicaragua’s broken democracy

PANAMA
Home invasion in Boquerón

Elogia en La Habana a la revolución cubana Panamanian president Martín Torrijos praises the Cuban revolution in Havana.

PARAGUAY
¿El pueblo del Che Guevara? – por Eduardo Quintana

PERU
Shining Path Terrorists Threaten to Expand Attacks in Peru

PUERTO RICO
Trump development in Puerto Rico to be eco-friendly

Yahoo says Puerto Rico in top ten of world’s favourite destinations

ST KITTS-NEVIS
Hanging them high: Don’t bother to reform, just execute

VENEZUELA
An open letter to the critics of the HRW report on Venezuela

2008: the year Hugo Chavez lost his democratic fig leaf

Socialism with cheap oil: Hugo Chávez embarks on a race against the impending impact of world recession

Venezuela halves travelers dollar allowance to $2,500

Chavez After the Oil Boom, also at Caracas Chronicles

The Wizards of Oil: As prices fall, so do the ambitions of Vladimir, Hugo and Mahmoud.

Tras 10 años de Gobierno, se le ocurre “reducir la dependencia del petróleo”

Estos son los nuevos aviones que comprará Hugo Chávez

US POLITICS
Housing Push for Hispanics Spawns Wave of Foreclosures

Special thanks to Ada, Eneas, Larwyn, Maggie and the Baron.

This week’s podcasts and posts
Denny and “the governor of all Puerto Ricans”
The disaster that is the Cuban revolution
Two photos
At Real Clear World Blog: Venezuela: 2008 in Review
Cuba: A Photograph as Metaphor


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