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Brazil's Levy denies dispute over budget cuts, will stay in post BRASILIA: Brazilian Finance Minister Joaquim Levy on Monday denied any disagreements within the government over unpopular budget cuts and said he did not plan to leave his post. Speculation of a rift between Levy and others in the government emerged on Friday when he unexpectedly missed the press conference to announce the spending cuts, a key part of the finance minister's austerity push. Fears among investors that Levy could be losing the trust of President Dilma Rousseff contributed to a drop of more than 1 percent in the Brazilian real early on Monday. It later rebounded somewhat to trade down 0.5 percent. The government said Levy missed last week's briefing because he had a cold, but local newspapers reported that he stayed away in protest of what he considered insufficient cuts.Levy sought to quash the rumors on Monday, calling a press conference to announce redoubled efforts to pass austerity measures ...

Colombia's Santos to visit Pope Francis in June: report BOGOTA: President Juan Manuel Santos will meet Pope Francis in mid-June as part of a European tour, Colombia's foreign minister said in comments reported Sunday.After meeting Italian Prime Minister Matteo Renzi, Santos will "travel to Rome for an audience with the Holy Father, who will welcome him on June 15," Foreign Minister Maria Angela Holguin told the El Tiempo newspaper.Santos's tour begins with a summit in Belgium and will also take him to Sweden to ...
Brazil's Rousseff says Finance Minister Levy to stay in job BRASILIA: President Dilma Rousseff on Thursday rejected calls from some lawmakers in her Workers' Party for Finance Minister Joaquim Levy to quit, saying he would remain in the job. The lawmakers disagree with Levy's push for government austerity, which they think will sink Brazil's economy further towards recession. Rousseff said she has full trust in Levy, who is trying to push through the unpopular measures in order to reduce Brazil's fiscal deficit and ward off ...
Two Colombian soldiers killed in ELN rebel clashes BOGOTA: Two Colombian soldiers were killed in clashes with leftist ELN rebels, the country's second largest rebel group, the military said.The army accused guerrillas from the National Liberation Army (ELN) of launching an attack in the northeastern town of Cubara near the Venezuelan border. Officials said the insurgents on Saturday attacked soldiers who were trying to dismantle oil infrastructure that the ELN is building in the area. "During the security and defence operation, our soldiers ...
Brazil's inflation eases to 0.71pc in April, lower than forecast RIO DE JANEIRO: Brazil's benchmark IPCA consumer price index rose 0.71 percent in April from March, statistics agency IBGE said on Friday, the lowest since November and below market expectations of 0.76 percent.In the 12 months through April, consumer prices rose 8.17 percent, the highest rate since December 2003 and well above the government's 4.5 percent inflation target.Copyright Reuters, 2015 ...
Venezuela to unveil economic reforms CARACAS: President Nicolas Maduro said on Tuesday he will announce economic reform measures this week, as Venezuela grapples with severe inflation, shortages and other woes.The heir to the late leftist firebrand Hugo Chavez said he wanted to "win the economic war along the path of socialism".Speaking on his weekly television program, Maduro, a former bus driver, said he would announce the measures Friday.Maduro said he will take part in a May Day march that day, ...
5.8 magnitude earthquake hits southeast Ecuador QUITO: A 5.8 magnitude earthquake struck southeast Ecuador Tuesday, sparking panic, though there were no immediate reports in injuries or property damage, officials said. The earthquake occurred at 6:20 am (1120 GMT) in Guayaquil, in Guayas province, at a depth of 71 kilometers (44 miles), Ecuador's Geophysical Institute said.The rumble could be felt in neighboring provinces. Emergency services said no injuries, deaths or damage had been reported, but in a message on social media called ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln