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Peru sacks PM over alleged domestic spying LIMA: Peru's Congress sacked the prime minister, Ana Jara, on Monday night over alleged spying against lawmakers, reporters, business leaders and everyday citizens.Supreme executive power in Peru is held by the president, in this case Ollanta Humala. It is the biggest crisis in his four years in power.This is the first time the congress of Peru has deposed a prime minister since 1968. With a year left of his term, Humala must now name a prime minister for the seventh time.The censure vote against Jara was 72 to 42, with two abstentions.On March 19, the magazine Correo Semanal published a list of Peruvians who had allegedly been investigated by the National Intelligence Directorate, or DINI.These people included politicians and their families, journalists, business people and thousands of everyday citizens.After the news broke, Jara, who in July completed her first year in the post, was summoned to Congress. She said she ...

Brazil gov't is confident that Congress will pass fiscal package SAO PAULO: Members of Brazilian President Dilma Rousseff's administration are "strongly confident" that Congress will pass legislation aimed at streamlining spending, Finance Minister Joaquim Levy said on Monday. Passage of those measures should help the economy resume growth later this year, Levy told reporters on the sidelines of an event in Sao Paulo. Copyright Reuters, 2015 ...
Death toll in Chile floods rises to 17 SANTIAGO: At least 17 people were killed in flash floods that hit a normally arid region of northern Chile last week, and about the same number remain missing, authorities said Monday.The latest death toll from the devastating floods was released after five more bodies were found late Sunday and early Monday, as rescue workers continued dealing with the aftermath of the torrential rains in Atacama region, home to the world's driest desert.Chilean President Michelle Bachelet ...
Venezuelan theater chronicles absurdity of life in crisis CARACAS: Stage left is Josefina, a rough-talking working girl; stage right, Sofia, a swankily dressed bourgeois who has fallen on hard times.The two characters in Venezuelan playwright Virginia Urdaneta's new play come together doing something that real people in her homeland spend long hours doing, across the country, every day: waiting in line to buy scarce products from barren supermarket shelves.As the South American oil giant has gone from boom to bust in recent years, ...
Brazilian police arrest another executive in Petrobras probe SAO PAULO: Brazilian police on Friday arrested the CEO of Grupo Galvo, the latest executive arrested in a corruption probe focused on state-run oil firm Petroleo Brasileiro SA. Dario Galvo, chief executive of the construction group, and Guilherme Esteves, who is being investigated for funneling bribe money, were taken to federal police headquarters in the southern city of Curitiba, according to a court spokeswoman. Trials are underway there in what has become Brazil's biggest-ever corruption ...
Brazil stagnates in 2014, recession looms for 2015 RIO DE JANEIRO: The Brazilian economy, the world's seventh-largest, posted near-stagnant growth in 2014, expanding just 0.1 percent, and will likely enter recession this year, officials said Friday.Hosting the World Cup in June and July and gearing up for the Olympics next year failed to reverse the drag of rising inflation, a ballooning deficit and a $4-billion kickbacks scandal at state oil giant Petrobras that has tarnished Brazil's largest company and President Dilma Rousseff's party.It ...
Brazil president's spokesman resigns after leaked memo BRASILIA: Brazilian President Dilma Rousseff's spokesman, Social Communications Minister Thomas Traumann, resigned on Wednesday, her office said in a statement. Traumann, a veteran journalist, resigned after a memo from his office criticizing the government's communications strategy was leaked to Brazilian media. Rousseff's opponents seized on the memo, attacking her administration for apparently planning to use public funds to increase her popularity in Sao Paulo, Brazil's richest state and a hotbed of discontent with her government. ...


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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 $-22.095 bln
Exports $23.885 bln
Imports $45.980 bln
WeeklyAugust 03, 2015
Reserves $18.536 bln