China Names Latin America Advisor

Argentine industrial magnate Franco Macri is to be appointed senior advisor to China for investments in Latin America, according to the Chinese Association of Promotion for Industrial Development. Macri’s role will be to facilitate investment by Chinese companies into Latin America. Macri owns one of the country’s largest family-owned group and has a background in the construction and automotive industries.


Technorati Tags: Argentina, Franco Macri, Eduardo Bravo Losada, China, Senior advisor, Latin America, Chinese companies, Investments in Latin America, Chinese Association of Promotion for Industrial Development

Uribe To Serve Four More Years

Colombian president, Alvaro Uribe, made history Sunday by becoming the first Colombian leader to be re-elected to serve two consecutive terms. Uribe was returned with 62% of the votes, beating nearest rival, Carlos Gaviria, who gained the backing of only 22% of Colombians. The president earned widespread voter approval as a result of his hard line on security issues and his successful management of the country’s economy. He persuaded Congress to make constitutional amendments to allow him to stand for re-election, arguing that he needed more time to complete his work. Meanwhile, in line with many other markets in the region, Colombian stocks bounced back after the dramatic slide of recent weeks. The benchmark stock index, the IGBC, rose 8% on Friday with a record number of transactions for the month. And the country’s Central Bank surprised economists by keeping interest rates unchanged; the benchmark overnight lending rate remains at 6.25%, confounding expectations of a 25 basis points rise.


Technorati Tags: Colombia, Alvaro Uribe

Chávez Embraces Bolivia

Venezuela President Hugo Chávez’s visit to Bolivia has concluded with the signing of 16 cooperation agreements which will further cement the close relationship between Chávez and Bolivian counterpart Evo Morales and heighten the nervousness of some foreign investors. Venezuela has announced, presumably much to the chagrin of Brazilian oil operator Petrobras, that it will invest $1.5 billion into the Bolivian energy sector via its state-owned oil entity PDVSA. In addition, it has said it is committed to buy $100 million of Bolivian debt. This would certainly help Morales’government with its budget shortfall this year, and is in line with Chávez’s goal to promote a regional capital market.


Technorati Tags: Bolivia, Evo Morales, Venezuela, Hugo Chavez

Argentina Growth Continues

Argentina continues its remarkable run of growth, recording economic expansion of 8.6% for the first quarter of the year, compared with the same period in 2005, according to the national institution of statistics (INDEC). GDP expanded 7.7% in March compared with the previous year, driven by construction, automotive industryand durable goods. The economy has now grown for 40 consecutive months.


Technorati Tags: Argentina, Economy, GDP, Growth, INDEC, Eduardo Bravo Losada

IGAF Worldwide - Newsletter

Click AQUI para ver la última edición de la newsletter de IGAF Worldwide, The Exchange (Marzo-Abril 2006).


Click HERE to view the IGAF Worldwide newsletter, The Exchange (March-April 2006).