Tag Archives: Latin America

Argentina Declared in Default by S&P as Talks Fail

Posted on by

“Standard & Poor’s declared Argentina in default after the government missed a deadline for paying interest on $13 billion of restructured bonds.  The South American country failed to get the $539 million payment to bondholders after a U.S. judge ruled that the money couldn’t be distributed unless a group of hedge funds holding defaulted debt also got paid. Argentina, in default for the second time in 13 years, has about $200 billion in foreign-currency debt, including $30 billion of restructured bonds, according to S&P.  Argentine Economy Minister Axel Kicillof described the group of creditors as ‘vulture funds’ and said the country wouldn’t sign an accord under ‘extortion.'”

http://www.bloomberg.com/news/2014-07-30/argentina-defaults-according-to-s-p-as-debt-meetings-continue.html

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Ecuador Bans Bitcoin, Plans Its Own State-Run Digital Money

Posted on by

“The law gives the government permission to make payments in ‘electronic money’, but decentralized digital currencies like bitcoin will now be prohibited.  The proposed electronic money is to be backed by the assets of the Banco Central del Ecuador, the nation’s central bank. The National Assembly will oversee the new currency while the central bank will develop and integrate it into the broader financial system.  Companies offering digital currency services will have to withdraw from operations or cease entirely.  This includes BitPagos, which recently raised $600,000 and had plans to grow in Ecuador’s bitcoin market.”

http://www.coindesk.com/ecuador-bans-bitcoin-legislative-vote/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Shock: Colombia to Legalize Marijuana

Posted on by

the-daily-bell-top-logo61

“Colombia has a great climate for marijuana. The plant is indigenous and once it is cultivated and harvested, Colombia is in a good position via its free-trade agreements to supply top quality, naturally produced, low-cost cannabis around the world. From an investment standpoint, those seeking to participate in this powerful trend should be asking, ‘How does a company ideally position itself to capture significant market share in this timely and highly-profitable industry – and establish a sustainable leadership position?’ The answer will no doubt emerge as more countries with more natural advantages emerge to offer quality products to a growing market place.”

http://www.thedailybell.com/news-analysis/35503/Shock-Colombia-to-Legalize-Marijuana/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

US Drug Policy and the Border Child Immigration Crisis

Posted on by

“The majority of the child immigrants are coming from El Salvador, Guatemala, and Honduras. Those Northern Triangle countries suffered not only devastating civil wars in the 1980s, with the US supporting conservative, often dictatorial governments (or, in the case of Honduras, serving as a platform against the government in Nicaragua), but also chronic poverty and income inequality.  They are also the countries feeling the brunt of the expansion of powerful Mexican drug trafficking organizations who, in response to increased pressure from the Mexican government (assisted by US aid under the Merida agreement) began pushing south into the region around 2008.”

http://stopthedrugwar.org/chronicle/2014/jul/19/us_drug_policy_and_border_immigration

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Econ 101 for Panama: New Price Controls Bring Rampant Shortages

Posted on by

“During the last couple of weeks, Panama — with expected annual economic growth of 7 percent this year — has faced what hardline socialist nations such as Cuba and Venezuela experience every day: food shortages. As many experts warned, and only 15 days after newly elected President Juan Carlos Varela announced the price-control law, the empty shelves are everywhere.  On July 7, Varela’s administration selected 22 retail products from Panama’s basic food basket for the ‘Pocket First’ program. The implementation of price caps is supposed to save families up to US$58 per month, and ‘rectify speculation.’  The productive sector is already feeling the pain.”

http://panampost.com/marcela-estrada/2014/07/21/econ-101-for-panama-new-price-controls-bring-rampant-shortages/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

American Airlines cuts Venezuela flights after Maduro threat

Posted on by

“American Airlines says it is cutting almost 80% of its flights to Venezuela from next month.  Tight foreign currency controls make it difficult for foreign airlines to repatriate money from ticket sales in Venezuela.  The authorities have restricted access to dollars and want to make them more expensive to purchase, which may lead to losses for companies that are still waiting for cash from as far back as 2012.  In January, Ecuadorean airline Tame also suspended flights to Venezuela, demanding $43m (£26m) in overdue payments for tickets.  President Nicolas Maduro said at the time that airlines that reduced their operations in Venezuela would face ‘severe measures’.”

http://www.bbc.com/news/world-latin-america-27895233

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Venezuela’s airport ‘breathing’ tax

Posted on by

“The biggest international airport in Venezuela is charging a fee for the right to inhale clean air – and social media users are not happy.  We’re used to a seemingly endless range of taxes and surcharges when we fly – passenger taxes, departure taxes, fuel levies. But Maiquetia International Airport in Caracas has taken this a step further – passengers flying out now have to pay 127 bolivars tax (£12; $20) for the air they breathe.  This is to cover the cost of a newly-installed system which uses ozone to purify the building’s air conditioning system.  Some Venezuelans on social media fear the tax could end up being a new source of corruption. Others see it as evidence of how short of cash the airport is.”

http://www.bbc.com/news/blogs-trending-28227198

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Puerto Rico: Tropical Tax Haven for America’s Super-Rich

Posted on by

“Struggling to emerge from an almost decadelong economic slump, the Puerto Rican government signed a law in early 2012 that creates a tax haven for U.S. citizens. If they live on the island for at least 183 days a year, they pay minimal or no taxes, and unlike with a move to Singapore or Bermuda, Americans don’t have to turn in their passports. (Puerto Ricans are U.S. citizens but cannot vote in federal elections.) About 200 traders, private equity moguls, and entrepreneurs have already moved or committed to moving, according to Puerto Rico’s Department of Economic Development and Commerce, and billionaire John Paulson is spearheading a drive to entice others to join them.”

http://www.businessweek.com/printer/articles/210061-puerto-rico-tropical-tax-haven-for-americas-super-rich

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Russia writes off 90% of Cuba’s debt ahead of Putin L. America tour

Posted on by

“Russia has written down $32 billion of Cuba’s Soviet era debt. Russian President Vladimir Putin signed the law ahead of his official visit to Latin America, with Havana as his first stop.  The agreement was first signed in October 2013 and draws a line under a twenty-year dispute.  Cash-strapped Cuba has been feverishly trying to restructure its debt to jump start its economy and attract investment. Three years ago it restructured $6 billion it owes to China, and in 2012 Japan forgave about $1.4 billion.  Mexico recently forgave $478 million of Cuban debt.  Cuba remains a strong ally of Russia, with trade between the two countries at about $200 million last year.”

http://rt.com/business/172020-russia-cuba-debt-writeoff/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Roberto Escobar on Colombian Cocaine, Pablo, and the Drug War

Posted on by

“Roberto, of course, is specially placed to speak about the failed war on drugs. And like many others who have firsthand experience with the war on drugs, he understands the basic futility of the current approach and speaks to the ramifications in a logical and even eloquent way. Mr. Escobar also makes the practical point that along with the inevitable legalization of marijuana –­ and potentially many other drugs as well ­– ought to come some form of education. Roberto comes across as a person who seems at peace with his life and the tumultuous events that he has experienced. Even more importantly, he doesn’t seem embittered despite all he has undergone both mentally and physically.”

http://www.thedailybell.com/exclusive-interviews/35471/Anthony-Wile-Roberto-Escobar-on-Colombias-Cocaine-History-Pablo-Escobar-and-the-Failed-War-on-Drugs/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet