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The López Obrador Effect: a plummeting peso

May, 1 2018 (Panampost) The Mexican economy had remained relatively immune to the possibility of Andrés Manuel López Obrador triumphing in the next presidential election; that is, until recently, when this false sense of tranquility disappeared. Markets are now beginning to factor in the danger that López Obrador represents. For some, peso exchange rates have [...]

Brazil military airlifts Venezuelan migrants as border crisis grows

May, 4 2018 (Reuters) BOA VISTA, Brazil (Reuters) – The Brazilian Air Force has begun flying Venezuelans from a remote border region to elsewhere in Brazil, trying to defuse a humanitarian crisis as tens of thousands of migrants flee an economic collapse in their country. On Friday, 233 Venezuelans boarded a Boeing 767 on a [...]

Top Venezuelan bank Banesco’s chairman slams state takeover, arrests

May, 4 2018 (Reuters) CARACAS (Reuters) – The chairman of Venezuela’s top bank Banesco on Friday condemned a 90-day state takeover and arrest of 11 executives as locals thronged cash machines and sped up transfers to other institutions. In the biggest crackdown on the financial sector since late leftist leader Hugo Chavez, the government of [...]

Colombia sees billion-dollar bonanza from legacy of marijuana trade

May, 2 2018 (Reuters) Tired of living in fear of arrest or running afoul of drug traffickers, Romairo Aguirre is ready to destroy his illegal plantation of 1,500 marijuana bushes in the mountainous Cauca region of southwest Colombia and become legitimate. Like many of the farmers who grow cannabis near the town of Corinto, Aguirre [...]

Latin America Scraps $2 Billion Worth of Bond Sales as U.S. Rates Jump

May, 3 2018 (Bloomberg) The angst surrounding higher U.S. rates has spread to Latin America’s bond market. Four South American companies postponed at least $2 billion of planned U.S. dollar bond sales this week, according to five people familiar with the situation. This happened in the wake of 10-year U.S. Treasury yields climbing above 3 [...]

Venezuelan schools emptying as Chavez legacy under threat

April, 25 2018 (Reuters) Venezuela (Reuters) – It is mid-morning on a weekday yet all that can be heard in the once-bustling corridors of the Orlando Garcia state primary school is the swish of palm trees outside in the wind. The white, tin-roof building in the town of Socopo once held nearly 400 children, yet [...]

Spanish police make record cocaine bust in Algeciras port

April, 25 2018 (Reuters) Spanish police have made a record cocaine seizure, finding nearly 9 tonnes of the drug hidden among boxes of bananas in a shipping container at the southern port of Algeciras, the customs office said on Wednesday. The container was imported by a Colombian company on a ship coming from the Colombian [...]

Two suspects held over lynching of Canadian in Peru

April, 24 2018 (CNN) Peruvian authorities have detained two men suspected of lynching a Canadian man in a remote part of the country’s Amazon rainforest in an apparent reprisal attack for the killing of a respected indigenous leader. The suspects were identified by a video posted to social media that purportedly showed the killing of [...]

Mario Abdo Benítez wins Paraguay’s presidential election

April, 23 2018 (BBC) Conservative former senator Mario Abdo Benítez has been elected president of Paraguay. He beat his closest rival, Efraín Alegre from the liberal opposition alliance, by four percentage points. The result means the right-wing Colorado Party, which has dominated Paraguayan politics for decades, will maintain its hold on power. Mr Abdo Benítez, [...]

Mexico arrest over murder of reporter Javier Valdez

April, 24 2018 (BBC) Police in Mexico have arrested a man they suspect of killing award-winning journalist Javier Valdez last year. He was shot dead in May 2017 in northern Sinaloa state near the office of the news weekly he had founded, Ríodoce. Mr Valdez wrote extensively on drug-trafficking and organised crime in Mexico, including [...]

Nicaragua riots: Police free detained students and lecturers

April, 25 2018 (BBC) Nicaraguan police have released dozens of students and lecturers arrested in protests triggered by planned changes to the social security system. Some students said they had been beaten and tortured by police while in custody. The claims could not be independently verified. Images on social media showed some, visibly distressed and [...]

Peru-Odebrecht: Ollanta Humala’s Sister Received Funds in Swiss Bank Account

April, 11 2018 (Panampost) Geneva, 11 Apr (EFE) The Federal Criminal Court of Switzerland has dismissed an appeal filed by the sister of the former president of Peru Ollanta Humala to prevent the disclosure of information related to their bank accounts. Former first lady Nadine Heredia is alleged to have made the transfers. The judicial [...]