America's Insider

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AES bid for CANTV lifts markets.(stocks of Venezuelan companies)(Brief Article)
CARACAS -- Venezuelan shares rose sharply on Thursday, extending Wednesday's 1.54% jump, with the IBC stock index rising to as high as 7229.08 points or a 3.55% gain, on the back of AES Corp's $1.4 . . .

Growth forecast revised again.(Mexico's economic conditions)(Brief Article)
MEXICO CITY --The Banco de Mexico revised down its growth forecasts for 2001 yet again on Wednesday, to 0.77% of GDP, against earlier hopes of a 1.7% expansion, admitting that the business climate a . . .

Economic news bolsters debt.(economic conditions in Brazil)(Brief Article)
SAO PAULO -- Brazilian debt continued to rebound this week, with the '05 bond rising as high as 92 1/2, with the yield falling to 12.08%, following Tuesday's release by the Banco Central do Brasil ( . . .

Opposition protests against cuts.(budget cuts to provinces in Argentina source of dischord)(Brief Article)
BUENOS AIRES -- Governor belonging to the Justialista party, backed by labor unions, are opposing government efforts to reduce payments to the provinces. While the federal government has imposed bud . . .

White House and Republicans in Congress locked in dispute over Cuba travel.(efforts to limit illegal travel to Cuba)(Brief Artic
WASHINGTON --Congress began another assault on US restrictions on travel to Cuba as President George W. Bush appeared to crack down on illegal travel to the island. In late July, Rep. Jeff Flake, . . .

Sales figures show Mexican economy continues to weaken.(Brief Article)
MEXICO CITY -- The slowdown of the Mexican economy was underlined at the end of last week by yet another fall in retail and wholesale sales, with the National Statistics Institute (INEGI) reporting . . .

Ecuador announces measures intended to wean country off dependence on oil revenues.(economic policy development)(Brief Article)
QUITO -- Finance Minister Jorge Gallardo announced the government's latest fiscal reform package on Monday, detailing plans that would cut the country's public debt burden from today's 63.6% of GDP, . . .

Chile and Peru are gatekeepers for Bolivia's export ambitions.(political disputes inhibit development of gas industry in Bolivia
LA PAZ -- More than a century after the war that cost Bolivia its access to the sea, Chile and Peru stand in the way of Bolivian aspirations to become a major supplier of energy to the Pacific Basin . . .

War in Colombia to intensify as support for military solution grows.(efforts to end civil war are examined)(Brief Article)
BOGOTA -- US pressure and rebel intransigence are dealing new blows to Colombia's battered peace process at a time when many Colombians appear to be ready to support a military solution to the count . . .

Growth forecasts lowered despite first half performance.(Venezuelan economy)(Brief Article)(Statistical Data Included)
Venezuelan President Hugo Chavez lowered his country's growth forecast, with the economy now expected to expand by only 3.5-4% in 2001, down from earlier predictions of 4.5% growth, as the economy's . . .

Central Bank autonomy at risk.(Banco de Venezuela)(Brief Article)
Venezuela appears to be continuing down the interventionist path with the passage of a new law regulating the role of the central bank. The bill was finally passed on Tuesday, after months of delays . . .

Rates continue to tumble.(Mexican interest rates)(Brief Article)(Statistical Data Included)
The downward trend in Mexican rates showed no signs of abating, with 28 day yields tumbling a further 40 basis points at this weeks Cetes auction, to 6.97%, the lowest level since their inception in . . .

IMF continues support after tax cut.(economy in Ecuador)(Brief Article)(Statistical Data Included)
Despite the dire warnings expressed earlier this year that Ecuador would face the immediate cessation of multilateral aid if the country did not implement an IMF-proposed hike in the rate of VAT, fr . . .

Banco Santiago poised to outperform.(Chilean banking industry)(Brief Article)(Statistical Data Included)
The Chilean banking sector performed strongly in the second quarter, with net income rising by 92% year-on-year in constant peso terms, and return on equity in the sector rising to 15%. Out of all t . . .

Economy weathering regional economic crisis well.(Chilean economy)(Brief Article)(Statistical Data Included)
Chile's economy appears to be resisting many of the economic pressures its neighbors are experiencing, posting strong first-half growth of 3.5%, as its policy of low real interest rates, and the res . . .

Exile group's implosion could mean loss of influence in Washington.(Cuban American National Foundation)(Brief Article)
WASHINGTON -- Turmoil in the Cuban American National Foundation, which has split the powerful organization into warring factions, may damage the lobbying clout of the Cuban exile group and weaken su . . .

Kuczynski confirms deficit will exceed targets but pledges to control spending.(Finance Minister of Peru Pedro Pablo Kuczynski)(
LIMA -- Peruvian Finance Minister Pedro Pablo Kuczynski confirmed this week that this year's fiscal deficit of 2.2% of GDP will exceed the IMF target, but pledged that the government would try to co . . .

Investors, opposition politicians agree that privatization is not attractive.(state-owned industry in Brazil)(Brief Article)
SAO PAULO -- Since the overwhelming success of the privatization of state-owned bank Banespa last year, investor interest in state companies as well as new public service concessions has been soft. . . .

Ethics proposal seeks to rehabilitate image of Congress.(Brazilian politics)(Brief Article)
SAO PAULO -- In the midst of a series of political scandals that have discredited Brazil's legislative processes, a group of congressmen lead by the recently elected President of the Congress, Aacio . . .

Venezuelan spending slump reflects bad bookkeeping, incompetence.(Brief Article)(Statistical Data Included)
CARACAS -- Halfway through the year, government figures indicate that spending is a fraction of forecast levels. Official figures show that only 3.9% of the money budgeted for infrastructure inves . . .

Argentine bailout is short-term fix as investors wait to see results.(Brief Article)(Statistical Data Included)
BUENOS AIRES -- The deal between the IMF and Argentina heads off the danger of an imminent default, but it will make little difference to most Argentineans, who appear to be in for a protracted peri . . .

Recession continues to take toll on job market and companies.(Venezuela's economic conditions)(Brief Article)
CARACAS -- A study by the Fedecamaras business federation has found that more than 700,000 people in the manufacturing, trade and construction sectors that have been laid off since 1998 have still n . . .

US military ousted from offices.
CARACAS --The Venezuelan government has asked the US military mission in Venezuela to leave offices it occupies at the country's military headquarters. Venezuelan officials said the move was not int . . .

Food prices register sharp increase.(Brief Article)
CARACAS -- Food prices have risen more than 31% over the past two years, according to the Central Bank. Inflation during the same period was just 26%. Bank officials say they are concerned about the . . .

US gives more anti-drug money but no funds for flights.
LIMA -- By the end of the year, the US government plans to disburse an additional $22.7 million in support for Peru's anti-drug programs, air policing and the reduction of narcotics demand. The fund . . .

Indigenous law causes tension.(Mexico)(Brief Article)
MEXICO CITY -- Supporters of Mexico's indigenous tribes launched a serious of protests to demonstrate against the enactment of a controversial indigenous rights law. The law took effect this week am . . .

Farmers protest again.(Mexico)(Brief Article)
MEXICO CITY -- Thousands of poor farmers took to the streets this week to protest government agricultural and trade policies. Many blame improved US relations for a worsening of conditions in the ag . . .

Government expected to cut growth forecasts again.(Mexico)(Brief Article)(Statistical Data Included)
MEXICO CITY -- Following the release of figures that showed no growth in aDP in the second quarter, the government is expected to revise its projections for the full year. The government started the . . .

Officials bicker over inflation measures and growth.(Colombia)(Brief Article)
BOGOTA -- A fight has erupted between the state planning agency and the Finance Ministry over whether the government should continue its efforts to reduce inflation at the expense of economic growth . . .

Fighting expected to surge.(Brief Article)
BOGOTA -- Officials say several recent developments indicate that the country's guerrilla wars are likely to intensify in coming months. A recent decision by the government to break off talks with t . . .

New Bolivian president has long agenda, little time or support.(Brief Article)
LA PAZ -- Vice President Jorge Quiroga on Aug. 7 became the president of Bolivia after President Hugo Banzer stepped down the day before due to ill health. Quiroga faces a slew of problems, includ . . .

Tax cut ruling angers investors but options for responding are limited.(Brief Article)
QUITO -- A ruling by the Supreme Court has put Ecuador on a collision course with the IMF and international investors over a key tax increase. However, the government and investors may have few opti . . .

Investors wait for proof Argentine budget cuts will make a difference.(Brief Article)
BUENOS AIRES -- Much attention has been focused on efforts by the Argentine government to secure additional loans from the IMF and an additional bailout certainly would reduce the likelihood of a de . . .

Deepening economic slump takes a toll on Pastrana's popularity.(President of Colombia Andres Pastrana)(Brief Article)
BOGOTA - Unemployment and poverty is soaring in Colombia. The president's popularity is slumping by the day. And with just 10 months to go before presidential elections, President Andres Pastrana . . .

Victory in Tabasco may mean less than it appears for PRI.(Institutional Revolutionary Party)(Brief Article)
MEXICO CITY -- Last weekend's victory by the Revolutionary Institutional Party (PRI) in Yucatan state's gubernatorial elections is more a tribute to the party's organizational strength than an indic . . .

Congress delays salary increase as Chavez finds it harder to press agenda.(President of Venezuela Hugo Chavez)(Brief Article)
CARACAS -- Pity the working man in Venezuela. Finding a job is hard enough, never mind employment in the formal sector that includes retirement and other benefits. And now Congress and President Hug . . .

VENEZUELA.(economic indicators)(Illustration)
VENEZUELA % Change (In millions US $) Interest Trade Date CPI M1 Rate(%) Imports . . .

PERU.(economic indicators)(Illustration)
PERU % Change (In millions US $) Interest Trade Date CPI M1 Rate (%) Imports . . .

MEXICO.(economic indicators)(Illustration)
MEXICO % Change (In millions US $) Interest Trade Date CPI M1 Rate (%) Imports Ex . . .

ECUADOR.(economic indicators)(Illustration)
ECUADOR % Change (In millions US $) Interest Trade Date CPI M1 Rate (%) Imports Exports . . .

COLOMBIA.(economic indicators)(Illustration)
COLOMBIA % Change (In millions US $) Interest Date CPI M1 Rate(%) Imports Exports Trade Bal 1990 . . .

CHILE.(economic indicators)(Illustration)
CHILE % Change (In millions US $) Interest Date CPI M1 Rate (%) Imports Exports Trade Bal 1990 27.3 30.0 . . .

BRAZIL.(economic indicators)(Illustration)
BRAZIL % Change (In millions US $) Interest Trade Date CPI M1 Rate(%) Impor . . .

BOLIVIA.(economic indicators)(Illustration)(Statistical Data Included)
BOLIVIA % Change (In millions US $) Interest Rate (%) Trade Da . . .

ARGENTINA.(economic indicators)(Illustration)
ARGENTINA % Change (In millions US $) Interest Trade Date CPI M1 Rate(%) Imports . . .

Americas Insider Summary Forecast for 2001.(economic indicators)(Brief Article)(Illustration)
Americas Insider Summary Forecast for 2001 GDP GDP Inflation Trade Bal. $bn % chg % chg $bn Argentina 270 -0.5 . . .

Reform delays drive investors away.(Venezuela)(Brief Article)
CARACAS -- A report by US investment bank Morgan Stanley Dean Witter says that delays in approving changes to the social security system and land reform are deterring investors from moving into Vene . . .

Chavez suffers rare set back.(Venezuela's Hugo Chavez's plans to reform social security rejected)(Brief Article)
CARACAS -- In a rare rejection of a government proposal, a congressional committee has rejected the government's plan to reform the country's expensive and inefficient social security system. Member . . .

Zapatistas contest indigenous law.(Chiapas, Mexico)(Brief Article)
MEXICO CITY --The Zapatista rebels and their supporters blocked roads in Chiapas state to protest the enactment of a controversial indigenous rights law. The group originally supported the proposal, . . .

Banco de Mexico revises economic growth figures downward.(Brief Article)
MEXICO CITY --The Banco de Mexico has revised downward its growth forecast for 2001 for the third time. Bank officials now say that growth will be less than 2% this year, well under the 4.5% figure . . .