Latin America Archives

23Sep

By Ernesto RodriguezNo Comments

Finance, Banks, Cryptocurrency, Metals, Finance, Currency, Debt, National Budgets & Interest Rates, Types of News: Analysis

El Salvador’s Big Bitcoin Experiment

Photo: Diario Libre Will It Be A Win-Win For Country And Currency? Editor's Note: In June, the World Bank rejected El Salvador's request for help in implementing Bitcoin as the country's legal tender. But that didn't stop El Salvador's ambitious leader, President Nayib Bukele, from making the cryptocurrency the country's national currency. Corresponding writer Ernesto Rodriguez examines the prospects for the country and currency in this report. September 23, 2021—It’s been a few years since cryptocurrency, and especially Bitcoins, appeared as a new exciting prospect in the world of economics. Since then, it has become an important part of the economic conversation, with some people worried about the lack of transparency they represent and others praising the freedom they see in a ...

EU Sanctions Eight More Individuals Over Nicaraguan Political Situation

6Aug

By Spencer HayesNo Comments

Political Systems, Domestic Politics, Sanctions, Types of News: Brief

EU Sanctions Eight More Individuals Over Nicaraguan Political Situation

August 6, 2021—In reaction to more political arrests in Nicaragua, the European Union sanctioned an additional eight individuals. As the GER previously reported, the Nicaraguan government has been arresting political opponents and people who have criticized the government ahead of elections scheduled for November. The EU references the continued deterioration of Nicaragua's political situation, "The political use of the judicial system, the exclusion of candidates from the elections and the arbitrary delisting of opposition parties are contrary to basic democratic principles and constitutes a serious violation to the rights of the Nicaraguan people." More Arrests Last week, the Nicaraguan police arrested José Antonio Peraza, a political science professor and the leader of the...

Assassination The Latest In String Of Haitian Hardships

13Jul

By Steve BerlinNo Comments

Corruption, Bribes, Illicit Finance & Money Laundering, Types of News: Analysis

Assassination The Latest In String Of Haitian Hardships

July 13, 2021—With Haiti’s political and economic future in flux following the assassination of President Jovanel Moïse last week, the GER offers a brief primer on who he was. Jovanel Moïse Age: 53 years Party: Haitian Tèt Kale Party, a center-right party Family: Married with three children Career: Politician and Banana Exporter Jovanel Moïse, center, from May 2021 Moïse, whom even critics have said wanted to end monopolies that favored the country’s elites, also reputedly looked to make money off of government contracts for his banana company (NY Times, July 7). He presented himself as a reformer and battler of corruption who wanted to change the constitution to better serve the people. The country scheduled three elections this year, including a constitutional ref...

8Jul

By Steve BerlinNo Comments

Corruption, Bribes, Illicit Finance & Money Laundering, Domestic Politics: United States, Types of News: Brief

Biden Extends Emergency Designation On Transnational Criminal Organizations

July 8, 2021—U.S. President Joe Biden extended a previous national emergency designation regarding the continued threat of transnational criminal organizations to U.S. national security and private interests. The White House’s announcement said transnational criminal organizations "continue to pose an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States." The order allows the U.S. government to block property of organizations involved in criminal activities in two or more countries. Extension of Obama Executive Order The declaration is actually a continuation of executive order 13581 first issued by President Barack Obama in 2011 and continued in 2016. That order named the following organizations: The Brothers' Circle, Camorra...

Remittances Keep Venezuelans Afloat Amid Economic Crisis

21Jun

By Patti MohrNo Comments

Immigration, Migration, Types of News: Brief, Types of News: Videos

Remittances Keep Venezuelans Afloat Amid Economic Crisis

June 21, 2019-Money transfers into Venezuela from friends and family living abroad are primary means of survival for those left behind in the dire circumstances of economic collapse, according to economic data and on-the-ground reporting by The Indigo Traveller. Economic Snapshot of Venezuela Since 2014, the Venezuelan economy has been in free fall. In terms of economic size, its GDP shrunk from $324 billion in 2015 to $76 billion (projected) for this year. It started shrinking in 2014 with a decline of nearly 4 percent. The past two years, the economy decreased by more than 15 percent a year. Meanwhile, inflation has skyrocketed -- by 10 million percent projected for this year alone. That leaves residents dealing with food shortages, blackouts, unemployment, health issues...

Amid Protests, Brazil Passes 20-Year Austerity Plan

16Dec

By Patti MohrNo Comments

Finance, Currency, Debt, National Budgets & Interest Rates, Global Economics

Amid Protests, Brazil Passes 20-Year Austerity Plan

News Brief Damaged by a two-year recession, corruption scandals and protests at home, Latin America's largest economy turned to constitutional reforms to control its rising debt and spending. Brazil's Senate voted 53-16 in favor of a 20-year cap on spending increases for social welfare programs. The House has already passed the bill, which becomes law. The constitutional amendment, PEC 55, will cap government spending on health care, education and social security through 2036 at current rates adjusted for inflation. Supporters said it will create certainty in fiscal budgets, control rising debt, and attract foreign investment. They said the amendment also guarantees a floor for the spending programs. Opponents, however, said the spending caps would hurt the poorest and lock fu...