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Venezuela faces default fears as LatAm economic woes mount CARACAS: Despite sitting atop the world's largest oil reserves, Venezuela's government is facing mounting concerns about its solvency, prompting a downgrade that has added to Latin America's recent economic bad news.Venezuela owes more than $6.4 billion in debt payments in October, equal to one-third of its total declared hard currency reserves.The overall economic picture is also bleak, with Venezuelans hit by chronic shortages of basic goods, annual inflation of more than 60 percent and a stricken economy that S&P said risked shrinking up to 3.5 percent this year.Copyright AFP (Agence France-Presse), 2014 ...

First domestic case of chikungunya in Brazil: ministry BRASïLIA: Brazil's authorities on Tuesday reported the first domestically contracted cases of the mosquito-borne chikungunya virus, prompting the government to announce it was stepping up attempts to control the disease.The joint disease, which causes high fever and painful arthritis, is endemic to Africa and south Asia but has been moving north as well as west.Brazil's cases emerged in Oiapoque municipality in the northern region of Amapa, bordering French Guiana, where cases have also been reported.The ...
Colombia may pre-finance 2015 borrowing needs NEW YORK: Colombian Finance Minister Mauricio Cardenas said on Monday the government could start early to pre-finance some of its estimated $3 billion in 2015 borrowing needs by tapping international capital markets before year-end. "We are now thinking for next year. We may pre-finance some of the needs for 2015, but that depends on the markets, that depends on the assessment whether it is better to come to the markets with a bond issue this ...
Peru's Humala abruptly replaces his finance minister with key adviser LIMA: Peru's President Ollanta Humala replaced his influential finance minister with the ministry's chief adviser late on Sunday in a surprise shake-up that comes amid the worst economic slowdown in five years. Incoming Finance Minister Alonso Segura said his priority would be to consolidate reforms already underway in Humala's government, with an eye toward jump-starting economic growth. Segura said the global minerals exporter's economy would likely expand by less than 4 percent this year - ...
Venezuela arrests 64 for anti-Maduro protests: rights group CARACAS: Venezuelan security forces have arrested 64 people during renewed demonstrations against President Nicolas Maduro's government in the capital as well as the city of Barquisimeto, a rights group said on Saturday. The detentions came on Friday when mostly student demonstrators organised protests to coincide with seven months since the Feb. 12 start of a major wave of demonstrations."The protests have died down but are still sporadic, as we saw yesterday. Obviously the discontent continues," ...
Brazil prosecutor asks for freeze of Batista assets, property BRASILIA: The Rio de Janeiro prosecutor's office has asked a federal court to freeze financial assets and up to 1.5 billion reais($641 million) worth of property from Eike Batista, accusing the fallen Brazilian tycoon of market manipulation. In a statement on Saturday, the prosecutor's office said that Batista deceived investors with a "simulated" promise two years ago to invest $1 billion in oil company OGX, now known as Oleo e Gas Participacoes SA, if shares ...
Mexico President slams Texas governor over border crackdown MEXICO CITY: Texas Gov. Rick Perry's deployment of National Guard troops on the US-Mexican border is "reprehensible" and puts neighborly relations at risk, Mexican President Enrique Pena Nieto said in an interview published on Friday.Perry, considered a possible contender for the 2016 US Republican presidential nomination, in July ordered up to 1,000 Texas National Guard troops to the border, citing an influx of child migrants from Central America and drug cartel criminality. Critics have charged ...

 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln