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Rousseff economic model failed: Neves SAO PAULO: Brazil presidential candidate Aecio Neves on Friday said the economic model of President Dilma Rousseff failed as the economy entered a recession in the first half of the year. "Today is a sad day for Brazil as it just entered a technical recession," Neves told reporters. "The truth is that this government failed, and it failed principally in its steering of Brazil's economy. That's why the feeling among the majority of Brazilians is a desire for change."Brazil's economy shrank 0.6 percent in the second quarter from the previous period, according to government statistics agency IBGE. The agency also revised down its estimate for first quarter activity to a 0.2 percent contraction, meaning the economy entered a recession, a major blow to Rousseff's already diminishing hopes for reelection in October.Copyright Reuters, 2014 ...

Two miners freed, 24 trapped in Nicaragua gold mine collapse BOGOTA: Two of 26 artisanal gold miners trapped in a landslide caused by heavy rains in northern Nicaragua have been freed, while rescue efforts continue, the company that used to operate the mine said in a statement on Friday.Colombian miner Mineros S.A., which operates the Bonanza region project via its Nicaraguan subsidiary Hemco, said it had been informed by local emergency services that the two miners were freed from a section of the mine the ...
Brazil enters recession in pre-election blow to Rousseff SAO PAULO: Brazil suffered a recession in the first half of the year as investment plunged and the country's hosting of the World Cup suffocated economic activity, a major blow to President Dilma Rousseff's already diminishing hopes for reelection in October. Latin America's largest economy has suffered stagnant growth for more than three years under Rousseff's left-leaning policies, which have dented consumer and business confidence and caused heavy losses for financial investors. The economy took ...
Brazil cracks 'biggest' Amazon deforestation gang SAO PAULO: Police in Brazil have broken up an Amazon deforestation gang considered the worst currently active, officials said on Wednesday.The gang would invade public land in northern Para state, burn down forest, divided the land into parcels and sell them, federal police said in a statement.The group is responsible for environmental crimes to the tune of $230 million, said the Brazilian Environmental Institute.There was no word on how many people were arrested."The suspects are ...
Colombian rebels free geologist hostage BOGOTA: A Colombian geologist abducted in June, reportedly by a left-wing guerrilla group, has been freed, police told AFP on Wednesday.Andres Felipe Calle was kidnapped in the northern town of Curumani while doing mapping for the Colombian geological service (SGC) on June 29.On Tuesday he was released in good condition in the city of Aguachica, about 100 kilometers (60 miles) south of where he was captured, said Cesar Bohorquez, president of the police anti-kidnapping and ...
Argentina says wants to bring all debt under Argentine law BUENOS AIRES: Argentina's government said on Wednesday its long-term plan was to bring all its sovereign debt governed by foreign law under Argentine legislation.Latin America's No. 3 economy tipped into default on July 31 after a US court prevented it from servicing debt held under US legislation until it had settled with a group of US investment funds suing the country over their bondholdings."The idea is to bring all of it under Argentine jurisdiction," Carlos ...
Top Colombian drug hitman 'Popeye' is freed BOGOTA: The head of Colombian drug kingpin Pablo Escobar's hitmen, a confessed murderer nicknamed "Popeye," was released from prison Tuesday after helping prosecutors convict a former justice minister.John Jairo Velasquez Vasquez has confessed to killing 300 people and organizing the killings of 3,000 others, but walked free from the Combita high-security prison in central Colombia after completing 22 years of his 30-year sentence for murder, police and judicial sources said.The hitman was convicted for the ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln