December 5, 2012 | 1416 GMT
Syrian President Bashar al Assad is considering seeking political asylum in Latin America for himself, his family and his associates if forced to flee Damascus, an unnamed source in Caracas said Dec. 5, Haaretz reported. Syrian Deputy Foreign Minister Faisal al-Miqdad held meetings in Cuba, Venezuela and Ecuador over the past week and delivered classified personal letters from al Assad to local leaders, the source said.
Posted in LatAm, Middle East, News, Syria, Venezuela, war
Tagged LatAm, Middle East, News, Syria, Venezuela, war
Latin America’s fastest-growing country has set its sights high. First it needs a government as impressive as its economy
ON A humid stretch of Pacific coast in one of the poorest parts of the Americas, somebody seems to have misplaced a chunk of Manhattan. The 50-storey skyscrapers of Panama City jut out of the jungle like nowhere else in low-rise Central America. Panama’s smart banks, open economy and long queues of boats at its ports have caused many to compare it to Singapore, another steamy success story. Panama’s president, Ricardo Martinelli, made his country’s first state visit there in 2010 and later said, “We copy a lot from Singapore and we need to copy more.”
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Posted in credit, infrastructure, Jobs, LatAm, News, Panama, shipping, Singapore, Trade
Tagged credit, infrastructure, Jobs, LatAm, News, Panama, shipping, Singapore, Trade
>Brazil – prepare for devaluation
Guest post By Thierry Apoteker, CEO and chief economist at TAC
TAC quantitative models show that the BRL is currently overvalued by about 25 to 30 per cent. The IMF index for the BRL real effective exchange rate suggests a 50 per cent overvaluation. With a combination of slower growth, higher external deficits, large speculative inflows and difficulty in cyclical management, the question is now not if the currency will depreciate, but when and by how much.
Guest post: Brazil – prepare for devaluation
Posted in central_banks, Commodities, Dollars, LatAm, News
Tagged Brazil, central_banks, Commodities, Dollars, ForEx, LatAm, News