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Rousseff urges Brazil cabinet to focus on economy, minister says BRASILIA: Brazilian President Dilma Rousseff urged ministers at her first meeting with the new cabinet on Thursday to focus on the country's staggering economy, Chief of Staff Jaques Wagner said.The meeting was called by the president on Wednesday after the government failed for the fourth time to get enough support to hold a vote in Congress on whether to back or overturn Rousseff's vetoes of two spending bills despite a cabinet reshuffle last week meant to bolster her support."The president clearly told ministers that the economy is the main agenda," Wagner, one of the new ministers who took over last Friday, told reporters after the meeting.The new ministers said during the meeting that they will work with members of their parties to increase support for future votes on critical bills, according to Wagner.Rousseff's government is depending on the approval of several measures sent to Congress to balance the country's accounts ...

Brazil court hits Rousseff again, fueling impeachment talk BRASÍLIA: Brazil's President Dilma Rousseff suffered a major new setback Wednesday when a court ruled that her government's accounting practices were illegal, handing ammunition to opponents threatening impeachment proceedings.The decision by the Federal Accounts Court or TCU was the latest blow to Rousseff, less than a year into her second term. The court said that her government's accounting practices in 2014, including taking what amounted to unauthorized loans from state-owned banks to make up for ...
Brazil's Rousseff to be investigated for alleged funds misuse BRASÍLIA: President Dilma Rousseff's campaign will be investigated for alleged use of funds skimmed from the vast Petrobras corruption scheme, officials said Wednesday, in a twist that could potentially end her term early.The opposition Social Democratic Party of Brazil (PSDB) has filed five complaints, including one now accepted by a federal electoral body. Opposition lawmakers -- whose candidate lost in a tight race against Rousseff in 2014 -- say Rousseff of the Workers Party and ...
Brazil economy headed for steep contraction: IMF BRASÍLIA: The International Monetary Fund predicts a three percent shrinkage in Brazil's economy this year, with a further one percent in 2016, reflecting deepening trouble for Latin America's biggest country."In Brazil, business and consumer confidence continue to retreat in large part because of deteriorating political conditions, investment is declining rapidly, and the needed tightening in the macroeconomic policy stance is putting downward pressure on domestic demand," the IMF said in a global survey Tuesday. Copyright ...
Chile president declares huge Easter Island marine reserve VIÑA DEL MAR: Chilean President Michelle Bachelet opened an international conference on the protection of the oceans Monday with a pledge to create huge new marine reserves around Easter Island in the Pacific.To warm applause from delegates from around the world, Bachelet said her government would work with indigenous Rapa Nui to protect their waters from illegal exploitation while preserving their ancient fishing traditions.Copyright AFP (Agence France-Presse), 2015 ...
Venezuela, Guyana agree to normalize ties after territorial dispute UNITED NATIONS: Venezuela and Guyana have agreed to return their respective ambassadors to their posts, normalizing ties after months of a bitter territorial dispute.Venezuelan President Nicolas Maduro acknowledged that his meeting with his Guyanese counterpart David Granger at the United Nations was "tense and difficult," a statement from his Foreign Ministry read.Maduro said a technical committee would tackle the territorial dispute between the two countries.Venezuela has been pressing claims to Guyana's Essequibo region, which encompasses ...
UN court says it can rule in Bolivia vs Chile row THE HAGUE: The UN's highest court Thursday agreed to take up a century-old dispute between Chile and Bolivia, saying it could rule in the case as La Paz seeks to regain access to the Pacific.The Hague-based International Court of Justice (ICJ), which oversees disputes between countries, said it "has jurisdiction... to entertain the application filed by Bolivia."A hearing dealing with the substance of the case however is not expected to open for several months.Bolivia -- ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 08, 2015
Reserves $20.05 bln