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Ecuador returning German money in environment row QUITO: Ecuador's President Rafael Correa said Saturday that Quito would be giving back about $8.5 million donated by Germany last year, in an environmental row. "Go ahead, take your seven million euros. If you like, we will give you another seven million euros for training programs in respect, on sovereignty and on international law," Correa, a leftist economist by training, fumed in his weekly address.Germany had expressed disappointment in Ecuador's refusal to allow a German parliamentary delegation to visit the Yasuni. Many Ecuadoran indigenous and environmental groups oppose government plans to allow oil to be pumped in the remote Amazon basin area that sits atop 920 million barrels of crude oil.On Friday, Foreign Minister Ricardo Patino said Ecuador has "ceased cooperation" with Germany on environmental issues.Correa charged that the German lawmakers "were coming here to supervise what was going on in Yusuni" without government permission, slamming the move as "lack ...

Brazil's jobless rate edges higher in November RIO DE JANEIRO: Brazil's jobless rate edged higher in November and surpassed forecasts, a sign the labor market is weakening as Latin America's largest economy stagnates.Brazil's non-seasonally adjusted jobless rate rose to 4.8 percent in November from 4.7 percent in October, statistics agency IBGE said on Friday. The number was above the median forecast of 4.4 percent in a Reuters poll of 20 economists. "This understates the weakening of the job market over the past ...
Colombia's FARC rebels declare unilateral ceasefire HAVANA: Colombia's FARC guerrillas declared an indefinite, unilateral ceasefire on Wednesday in the 50-year conflict, saying they would only use weapons if they came under attack by the army.The announcement -- the third year running the leftist rebels have declared a ceasefire over the holiday season -- comes soon after peace talks with the Colombian government resumed, following a crisis triggered by the capture of an army general on November 16.Wednesday's move was noteworthy for ...
Argentina says Nov inflation eases to 1.1pc m/m BUENOS AIRES: Argentine inflation eased in November to 1.1 percent on the month, bucking expectations for the rate to hold steady, official data showed on Monday. The median forecast in a Reuters poll of economists had been for consumer prices to rise 1.2 percent, like in October. Latin America's third-largest economy has one of the world's fastest inflation rates, which some analysts say is already running close to 40 percent on a yearly basis. Many ...
Brazilian man admits killing 41 people `just for fun' ISLAMABAD: A Brazilian man accused of stabbing a woman to death in a Rio suburb has confessed to have murdered 41 people, almost all of them women, "for the fun of it," police said."He wanted to kill women - white women, not black ones. He followed the victims, studying them closely before committing the crimes," said police commissioner Pedro Henrique Medina from the northern suburb of Nova Iguacu.The man was identified as Sailson Jose das ...
US Congress approves fresh sanctions on Venezuela WASHINGTON: The US Congress gave its final approval Wednesday to new sanctions against Venezuelan officials accused of violating the human rights of anti-government protestors this year.Thousands of activists were arrested and more than 43 people were killed during mass demonstrations against the government of President Nicolas Maduro, the elected successor of late strongman Hugo Chavez, which raged from February to May.The US hit Venezuela government officials with travel bans in July, but lawmakers said they ...
Brazil's Congress loosens 2014 fiscal goal in bruising vote BRASILIA: President Dilma Rousseff won a hard-fought victory in Brazil's Congress early on Thursday with the passage of legislation that frees her administration from complying with its fiscal savings goal for this year.The amendment to the budget law, approved in a heated 17-hour joint session of Congress, allows her government to deduct infrastructure investments and tax breaks to lower the primary surplus goal to one tenth of its original level.Since narrowly winning re-election in October, ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln