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Brazil's Rousseff promises fiscal discipline to investors SAO PAULO: President Dilma Rousseff said in a letter to investors that one of the main priorities of her second term will be to put Brazil's fiscal accounts in order, sending a strong message that her administration will adopt more market-friendly policies. In a letter that was read on Tuesday to investors at a JP Morgan conference, Rousseff gave the clearest backing as of yet to her future finance minister, Joaquim Levy, a known fiscal conservative. "Our new economic team will work to gradually but structurally lift our primary surplus so we can stabilize and reduce the public sector's gross debt in relation to GDP," Rousseff said the letter provided to Reuters by the presidency.Her promises of fiscal discipline are the latest in a series of signals to investors that the leftist leader will abandon some of the interventionist policies blamed for four years of lackluster economic growth. She said ...

Venezuela faces hyperinflation threat CARACAS: Gloomily watching their money shrink in value, Venezuelans don't need government statistics to tell them what they already know: their country is facing the looming risk of hyperinflation.Breaking its own regulations, the Venezuelan central bank has stopped publishing the official inflation rate, which stood at 63.4 percent at the end of August.Since then, prices have only continued to rise, as the South American oil giant feels the pinch of falling crude prices and struggles ...
Colombia rebels free captured general, two others BOGOTA: Colombia's leftist FARC guerrillas freed an army general Sunday in a concession to revive peace talks, but the president refused to budge on their calls for a ceasefire.Two weeks after sending the peace process into crisis by capturing Brigadier General Ruben Alzate, their highest-ranking captive in 50 years of conflict, the Revolutionary Armed Forces of Colombia handed him and two other army captives over to the Red Cross in the jungle-covered department of Choco."Freed... ...
Brazil's president names pro-market finance minister BRASïLIA: Brazilian President Dilma Rousseff named pro-market bank executive Joaquim Levy to be her new finance minister Thursday as her government looks to steer the economy out of recession.Levy, a University of Chicago-trained economist, is a popular choice in the financial world, where Rousseff's management of the world's seventh-largest economy has been widely attacked.At a press conference where the president's new economic team was announced -- with central bank chief Alexandre Tombini keeping his job ...
Venezuela's Maduro pursues push for OPEC output cut CARACAS: Venezuelan President Nicolas Maduro said Thursday he would keep pushing OPEC to cut oil output to boost sliding crude prices after the cartel opted not to slash production -- a move backed by Caracas.OPEC had faced pressure from several of its poor members, notably Venezuela, to reduce production quotas but the 12-nation cartel's powerful Gulf members rejected calls to turn down the taps. "We have not succeeded yet, but... we will continue to try ...
At least 17 inmates dead of poisoning in Venezuela: police CARACAS: At least 17 Venezuelan inmates who had been on hunger strike over prison conditions, died Wednesday of drug poisoning, police sources told AFP.The prisoners at David Viloria Correction Center, known as Uribana prison, in Venezuela's Lara state, had been protesting since Tuesday over what they said was inhumane treatment and rights violations by prison officials, anonymous police sources said.Prison officials said the dead inmates were poisoned after ingesting prescription drugs. How the inmates all ...
Pele back in Brazil hospital, and 'stable' SAO PAULO: Brazilian football legend Pele was back in hospital Monday in Sao Paulo, days after he underwent surgery for kidney stones."Patient Edson Arantes do Nascimento (Pele) has been admitted for evaluation and remains in stable condition," said a statement from Albert Einstein Hospital.Local media reported that Pele was being treated for a urinary infection.Pele, 74, underwent surgery November 13 for kidney stones.Close associate and aide Jose Fornos Rodrigues told AFP Pele would stay overnight ...


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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 $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 22, 2015
Reserves $10.331 bln