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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 the loss of its prized investment-grade credit rating.Rousseff told reporters she will announce an infrastructure upgrade program on June 9, a massive concessions plan aimed at attracting billions of dollars in private investment to boost Brazil's stagnant economy. Data on Thursday showed economic activity in Brazil tumbled in the first quarter and unemployment climbed to a near four-year high. The Senate on Wednesday night postponed until next Tuesday a vote on a bill that trims ...

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 ...
Two roads partially blocked in Brazil as truck protest falters SAO PAULO: Truckers in Brazil partially blocked two federal roads at four points in the top soybean growing state of Mato Grosso on Monday, the federal highway police said. The protest has never blocked more than 20 points on federal highways since it started on Thursday. Traffic was stopped at more than 100 points at times during a two-week strike in late February. The drivers have been in talks with the government and freight companies ...
Flights disrupted as Chile volcano spews more ash PUERTO VARAS: Ash from Chile's spewing Calbuco volcano threatened Saturday to spell travel misery in the region and beyond after it triggered the cancellation of domestic and international flights in several cities.A sleeping giant for more than 50 years, the volcano sprang to life in spectacular bursts of ash and lava Wednesday and Thursday, forcing 6,500 people living nearby to evacuate and blanketed southern Chile in suffocating volcanic debris.It coughed out more fire and ash ...


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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 $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln