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Venezuela president takes Guyana border dispute to UN chief CARACAS: Venezuelan President Nicolas Maduro has gone to New York to meet with UN chief Ban Ki-moon over his country's escalating border dispute with Guyana, his foreign minister said late Monday.Maduro will "defend the rights of Venezuela" and "defend the country from aggression by the new government of Guyana," Foreign Minister Delcy Rodriguez said. A border dispute stretching back decades between the two south American neighbors has escalated in recent months, after Caracas made a new claim over coastal waters where Exxon Mobil recently announced an important oil find.Caracas issued a decree May 27 laying claim to waters off the Essequibo, a disputed territory that borders Venezuela and encompasses more than half of Guyana.The Venezuelan action came less than a month after Exxon Mobil said it had made a "significant" discovery in an offshore concession granted by Guyana.Last week, Guyana's President David Granger warned that Venezuela's border claim was a ...

Guyana says Venezuelan claim is threat to its survival WASHINGTON: Guyana's territorial dispute with neighboring Venezuela represents a threat to its very survival, President David Granger warned Friday in Washington.After a recent offshore oil find, the row between the two countries has escalated, with Venezuela laying claim to a huge swathe of Guyana's territory."Guyana at the moment is facing a challenge to its survival by a larger state," Granger told guests at the William Perry Center of Hemispheric Defense Studies.Caracas claims waters off the ...
Brazil makes deep cut to fiscal savings goal BRASÍLIA: Brazil's government announced Wednesday a radical cut to its fiscal savings goal and said it would increase austerity measures, citing the worsening performance in the world's seventh largest economy.Finance Minister Joaquim Levy said the lowering of the surplus goal from 1.1 percent of GDP to just 0.15 percent reflected the weakening economy.With Brazil on the brink of recession, "there has been an effect on tax receipts," he said.However, the government's commitment to austerity measures ...
Conservative candidate elected mayor of Buenos Aires BUENOS AIRES: Conservative PRO Party candidate Horacio Rodriguez Larreta was elected mayor of Buenos Aires Sunday in a closely fought race with the opposition ahead presidential elections later this year. With 99 percent of the vote counted, Larreta, the head of the rightist PRO Party, had secured 51.6 percent of the vote, just beating his opponent, ECO Party leader Martin Lousteau, who garnered 48.4 percent.Larreta replaces the current mayor, PRO Party's Mauricio Macri, who will ...
Argentina's Kirchner to attend papal mass in Paraguay BUENOS AIRES: Argentine President Cristina Kirchner on Sunday will attend a mass in neighboring Paraguay said by Pope Francis, with whom she had stormy relations when he was a cardinal in Buenos Aires.Kirchner traveled to the Paraguayan capital Asuncion on Saturday, accompanied by several high-ranking Argentine officials, the presidency said.Kirchner will return to Buenos Aires after the mass. Francis is also due to depart Sunday for the Vatican after a trip that took him to ...
Brazil lawmakers endorse reducing age of criminal responsibility BRASILIA: Brazilian lawmakers approved a constitutional amendment Thursday that would reduce the country's age of criminal responsibility from 18 to 16 years of age.With 323 votes in favor and 155 against, the first hurdle was cleared for the country to be able to charge people aged 16 and over as adults in cases of murder, rape and kidnapping.The constitutional amendment, which is opposed by the leftist government of President Dilma Rousseff, the Catholic Church and ...
Bolivian villagers ban booze, set curfew over crimes LA ASUNTA: The police car lights flashed in the dark and dusty streets of the Bolivian mountain village of La Asunta. The officers approached two boys and told them: "Go home, there's a curfew."But it's not the authorities who decided to order minors to stay home at night and prohibit alcohol consumption in La Asunta, a coca-growing community of 2,000 people beset by a spasm of crime.It was the villagers themselves.They demanded the strict measures ...


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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 $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln