In the second quarter, the economy contracted by 1.4%. The Buenos Aires-based think tank Foundation for Latin American Economic Research (known by its Spanish initials FIEL) is forecasting 2012 GDP growth of only 1.5%. Inflation is estimated by independent economists at almost 25% annually. As salaries are adjusted upward to compensate for the loss of purchasing power, workers are being pushed into higher tax brackets. Argentines traveling abroad now have to explain their plans to government bureaucrats if they want to buy hard currency.
Add these pocketbook issues to the rising rate of violent crime, recurring corruption scandals, increasing antidemocratic efforts to silence independent media outlets and pronouncements from Mrs. Kirchner’s inner circle that it wants to amend the constitution to allow her to run for a third term. The Kirchner government has also angered labor leaders by letting it be known that it plans to shift union control of hundreds of millions of dollars in health-care premiums to the government.
Turkey in November in Argentina
BELIZE
Software founder McAfee denies killing neighbor
BOLIVIA & CHILE
Trickle-down diplomacy
Evo Morales tries to swap a stream for a piece of Chilean seafront
BRAZIL
In sign of growing clout, Brazil’s corn helps hold up U.S. market
As the result of a 2009 WTO ruling, Brazil now receives about $17 million in monthly payments from U.S. taxpayers — money being used to advance the Brazilian cotton industry with research on best practices, pest management and other issues. The Obama administration agreed to the payments as an alternative to either curbing government support for U.S. cotton growers or having Brazil slap import taxes on American goods to compensate for the loss to its farmers.
Oil in Brazil
The perils of Petrobras
How Graça Foster plans to get Brazil’s oil giant back on track
COLOMBIA
Colombia Peace Talk Negotiators Meet Again
COSTA RICA
Students protest Costa Rica’s information crimes law
Cuban health care
Nip and tuck in
Medicine is big business in Cuba
ECUADOR
Los fabricantes de burbujas
Mexican Economy Slows on Weak Exports
PUERTO RICO
Puerto Rico Statehood: Luis Fortuño Pushes Bid To Become 51st State After Status Vote
VENEZUELA
The GREAT devaluation robbery coming to Venezuela
Of Virtual Ice Cream Plants And Ministers In The Chávez Revolution
The week’s posts:
More #post-election info: 28% Latino poverty rate
Argentina: Broadcast licenses, cable TV and fiber-optic Internet networks to be auctioned off