Archive for the ‘Peru’ Category

Peru Humala’s approval rating slips for fourth straight month

| June 17th, 2013 | No Comments »
Article originally appeared in Reuters

LIMA - Peruvian President Ollanta Humala’s approval rating fell in June for the fourth straight month to nearly the lowest level of his term, due in part to his refusal to pardon jailed former President Alberto Fujimori, according to a poll released on Sunday.

The popularity of Humala, who has been in office nearly two years, slipped to 41 percent in June from 46 percent in May, pollster Ipsos said.

His approval rating was also hurt by verbal sparring with former President Alan Garcia, who has said Humala is working to ensure his wife, first lady Nadine Heredia, can run for president in 2016, according to the Ipsos study published by the newspaper El Comercio.

Humala’s charismatic wife is widely seen as a potential candidate, but current election rules would prohibit her from running to lead one of Latin America’s fastest-growing economies.

According to the poll, 48 percent of respondents disagreed with Humala’s decision to reject a humanitarian ... Read More

Argentina or Venezuela: Which One Will Get a U.S. Reset?

| June 14th, 2013 | No Comments »
Real Clear World-01

BY ANA BARON

BUENOS AIRES – The meeting between U.S. Secretary of State John Kerry and his Venezuelan counterpart, Elias Jaua, was certainly one of the most significant during the recent annual assembly of the Organization of American States (OAS) in Guatemala.

During their 40-minute encounter, the two top diplomats agreed to reopen a dialogue at the highest level despite the profound differences that continue to separate the two countries.

Following this first step of rapprochement between Washington and Caracas, might something similar occur with Argentina in the near future? In conversations with various specialists from the U.S., Clarín found a consensus that the answer is a clear “No.”

Why is there more hope for warming of Washington’s relations with Venezuela than with Argentina?

The reasons can be divided into three categories. In the first place, the Venezuelan President, Nicolás Maduro, was the one who asked for the meeting with the American Secretary of State. It is ... Read More

Remarks by President Obama and President Humala of Peru After Bilateral Meeting

| June 12th, 2013 | No Comments »
White House-01

Oval Office

12:16 P.M. EDT

PRESIDENT OBAMA:  I’m very happy to welcome President Humala and his delegation to the Oval Office.  We’ve been able to work together and interact in a wide range of multilateral forums, but this is the first time that I’ve been able to have the President here in Washington.

Peru is one of our strongest and most reliable partners in the hemisphere.  We have a strong commercial and trading relationship.  We cooperate on a wide range of security issues, including our counter-narcotics efforts.  And we spent most of our discussion focused on how we can further deepen this important bilateral relationship.

I want to congratulate President Humala on being able to sustain strong growth rates in Peru, and his focus on broad-based economic growth that includes all people.  As a consequence, Peru has been able to see not only increased growth but also reduced poverty and steps ... Read More

White House Fact Sheet: U.S. – Peru Economic Relations

| June 12th, 2013 | No Comments »
White House-01

The United States and Peru share a strong commitment to expanding economic growth, job creation and inclusion through integration into global markets.  Our close cooperation in the Trans-Pacific Partnership (TPP) negotiation and our high standard United States – Peru Trade Promotion Agreement (the Agreement) are recent examples of efforts to strengthen trade and investment ties bilaterally and to expand economic links between the Americas and growing markets of the Pacific Rim.  Additionally, Peru is a partner in the Asia-Pacific Economic Cooperation (APEC) forum and the Pathways to Prosperity in the Americas initiative.

Leaders in the Trans-Pacific Partnership

The United States and Peru are two of the original members of the Trans-Pacific Partnership (TPP).  TPP is a comprehensive, high-standard, 21st century trade agreement that will increase exports and jobs in both the United States and Peru, and address the issues that U.S. and Peruvian businesses and workers are facing in the 21st century.   The United ... Read More

Peru Leader Surprises Critics With Free-Market Policies

| June 11th, 2013 | No Comments »
Wall Street Journal WSJ-01

BY ROBERT KOZAK

Many in Peru and on Wall Street once feared that Ollanta Humala might be the second coming of Hugo Chávez in South America. Like the late Venezuelan strongman, Mr. Humala was a former lieutenant colonel who had led a failed uprising and advocated a bigger state role in the economy to help the poor.

But nearly two years into his presidency, the 50-year-old meets with PresidentBarack Obama on Tuesday as a leader who has moved closer to Peru’s business sector and aligned the economy with free-market stalwarts like Chile, even as some neighbors like Bolivia and Ecuador tilt toward socialism.

Late Monday, Mr. Humala, whose close-cropped hair and demeanor still give him the air of a military man, met with members of the Senate Foreign Relations Committee and with academics. On Tuesday, he and Mr. Obama are expected to discuss trade, the fight against drug trafficking and other issues.

Mr. Humala campaigned partly ... Read More

Joe Biden’s Free-Trade Epiphany

| June 10th, 2013 | No Comments »
Article originally appeared in the Wall Street Journal

BY MARY O’GRADY

Vice President Joe Biden returned from his trip to Latin America last month a convert to free-trade and an enthusiast for the peace that former Colombian President Alvaro Uribe brought to his country. Or so said the veep in an op-ed he penned for this newspaper last week.

If Mr. Biden now sees the connection between prosperity and free trade, I say huzzah. The U.S. is part of negotiations for the Trans-Pacific Partnership, a proposed free-trade agreement among a group of Asian countries and the democracies of Canada, Chile, Peru and Mexico. If TPP talks are to succeed, U.S. commitment is a must.

But count me a skeptic. The protectionist, anti-development and collectivist agendas of Big Labor, green radicals and the ideological left are woven into Obama administration policy. Democrats rely heavily on these groups for financing, and the Obama administration can’t afford to offend them. It’s hard to believe that it ... Read More

Peru’s Shining Path leader jailed for life for terrorism

| June 10th, 2013 | No Comments »
BBC

A court in Peru has sentenced the last of the original leaders of the Shining Path rebels to life in prison.

Judges in the Peruvian capital, Lima, found Florindo Flores, who’s known as Comrade Artemio, guilty of terrorism, drug trafficking and money laundering.

He was also ordered to pay a fine of $183m (£117m).

The Shining Path rebels were severely weakened in the 1990s after failing to install a Communist state, but some remain active in southern Peru.

After hours of sentencing, Judge Clotilde Cavero said: “It was proven that he (Artemio) ordered the execution of a number of civilians, police and soldiers.

“It was proven that he belonged to the Central Committee of the Shining Path.

“It was proven that he was the top leader in the (Alto) Huallaga (Valley),” she said.

Cocaine link

During the trial which lasted six months, Artemio, 51, had denied the terrorism charges but referred to himself as a “revolutionary”.

He was ... Read More

Why Bolivia Needs the United States

| June 6th, 2013 | No Comments »
Article appeared in The Weekly Standard

BY JAIME DAREMBLUM

Socialists around the world have their own traditions for celebrating “International Workers’ Day,” and Evo Morales is no exception. Each year, the Bolivian leader uses May 1 to make a big announcement, typically regarding the military-backed seizure of a given industry or company. In 2006, during his first May Day as president, he nationalized his country’s enormous natural gas reserves. Since then, he has grabbed control of telecom companies, energy companies, and more. On May 1, 2012, he had Bolivian troops seize an electricity firm (owned by the Spanish multinational REE) that operates most of his nation’s power lines.

This year, Morales took a different approach: Instead of announcing the confiscation of economic assets, he announced the expulsion of the U.S. Agency for International Development (USAID). Without citing any evidence, Morales accused the agency of having conspired “against our people and especially the national government.” He also denounced Secretary of State John Kerry for referring to Latin America as ... Read More

Iran On Our Back Porch

| June 5th, 2013 | No Comments »
USA TODAY

BY ILAN BERMAN

Last week, Argentine state prosecutor Alberto Nisman dropped a bombshell when he issued his long-awaited indictment in the 1994 bombing of the Argentine Israel Mutual Association (AMIA) in Buenos Aires. The 502-page report pins the blame for the attack — which killed 85 and wounded hundreds more in what experts call Latin America’s 9/11 — squarely on the Islamic Republic of Iran. In doing so, it provides a timely reminder that Iran’s radical regime is active in the Western Hemisphere and that its presence here is far broader than is commonly understood.

Just how much is still a matter of considerable debate. Iran’s activities in the Americas have exploded over the past eight years, propelled in large part by the warm personal ties between outgoing Iranian President Mahmoud Ahmadinejad and recently-deceased Venezuelan strongman Hugo Chavez. Using Venezuela as a gateway into the region, Tehran succeeded in forging strategic partnerships with like-minded governments in ... Read More

Opinion Andres Oppenheimer: While Pacific Alliance thrives, Mercosur wither

| May 28th, 2013 | No Comments »
The Miami Herald

Colombian President Juan Manuel Santos may not have been hallucinating when he said last week that the Pacific Alliance — the bloc made up of Mexico, Colombia, Peru and Chile — “is the new economic and development engine of Latin America and the Caribbean.”

Indeed, the Pacific Alliance, which was officially launched only one year ago, is growing rapidly and becoming a serious economic bloc, while Mercosur — the common market made up of Brazil, Argentina, Venezuela, Uruguay and temporarily-suspended Paraguay — is turning into a political club increasingly weakened by internal infighting.

The four Pacific Alliance member countries had a combined economic growth of 5 percent last year, while members of Mercosur grew by a combined 2.9 percent, according to the United Nations Economic Commission for Latin America (ECLAC).

Furthermore, amid a general slowdown in global commerce, trade among Pacific Alliance countries grew by 1.3 percent last year, while trade among Mercosur ... Read More

Peru warns of economic downturn

| May 24th, 2013 | No Comments »
Financial Times

BY NAOMI MAPSTONE

Peru’s stellar economic growth is facing a downward correction amid the end of the commodities supercycle and a slowdown in top trade partner China, according to Luis Miguel Castilla, the country’s finance minister.

“The correction is between 6.5 towards around 6 per cent,” Mr Castilla told the FT in an interview.

“Obviously for us China is critical … if China is able to manage a soft landing towards growing at 8 per cent and sustaining that growth, that should help us to also ‘soft land’ our growth.”

His comments came as Peru on Thursday logged its slowest first-quarter growth in three years, at 4.8 per cent year-on-year, leading some economists to predict prolonged slower growth.

“The big picture is that growth is unlikely to return to the 7-8 per cent rates witnessed since 2009,” said Capital Economics in a research note. “Peru’s economy has benefited from an unprecedented decade-long mining boom, fuelled by Chinese demand for ... Read More

Latin American Trade Bloc Cuts Tariffs

| May 24th, 2013 | No Comments »

BY DARCY CROWE & ROBERT KOZAK

CALI, Colombia—The leaders of a regional trade bloc that encompasses Chile, Peru, Colombia and Mexico moved Thursday to lower import tariffs among the member countries, a decision that could boost economic integration efforts in Latin America.

The Pacific Alliance, as the group is known, includes some of the most open economies in Latin America. The member countries already have free-trade pacts with each other, but the leaders are moving now to simplify the trade rules and unify regulatory standards for industries like agriculture.

The Pacific Alliance nations agreed to the elimination of 90% of all import tariffs among the member countries, a proposal that will have to be approved by June 30 by lawmakers in some of the nations.

The remaining 10% will be more gradually eliminated, although Mexican President Enrique Peña Nieto said that this will take place “in the shortest time frame possible.”

Colombian President Juan Manuel ... Read More

Costa Rica and Guatemala move closer to joining Pacific Alliance bloc

| May 24th, 2013 | No Comments »
The Miami Herald

BY JIM WYSS

BOGOTA, Colombia – The four nations of the Pacific Alliance may be getting some company as they aim to turn the fledgling bloc into a regional powerhouse and boost trade with Asia. On Thursday, the presidents of Costa Rica and Guatemala said they hoped to become full-fledged members of the group within months.

The Alliance — formed by Chile, Colombia, Mexico, and Peru — held its seventh summit in Cali, Colombia Thursday amid aspirations that it might turn into a preeminent organization in a region stiff with competing blocs.

One of the prerequisites to joining the two-year-old Alliance is to have free-trade agreements with all members. Late Wednesday, Costa Rica and Colombia signed a free-trade deal that unlocked the entry door for the Central American nation.

During a meeting with some 400 regional business leaders Thursday, Guatemalan President Otto Pérez said his country has free-trade deals with Mexico, Colombia, and Chile and ... Read More

Latin American geoeconomics: A continental divide

| May 23rd, 2013 | No Comments »
The Economist

The region is falling in behind two alternative blocks: the market-led Pacific Alliance and the more statist Mercosur

ON MAY 23rd in the Colombian city of Cali the presidents of four Latin American countries—Chile, Colombia, Mexico and Peru—will sign an agreement removing tariffs on 90% of their merchandise trade. They will also agree on a timetable of no more than seven years for eliminating tariffs on the remaining 10%. They have already removed visa requirements for each other’s citizens and will proclaim their aspiration to move swiftly towards setting up a common market.

The Pacific Alliance, as the group calls itself, is “the most exciting thing going on in Latin America today”, according to Felipe Larraín, Chile’s finance minister. Some outsiders think so, too. Costa Rica and Panama want to join; Canada’s prime minister, Stephen Harper, and his Spanish counterpart, Mariano Rajoy, have said they will attend the Cali meeting as observers.

Behind ... Read More

In bloc-happy Latin America, the Pacific Alliance hopes to stand out

| May 23rd, 2013 | No Comments »
The Miami Herald

BY JIM WYSS

Latin America is fond of carving itself up into an alphabet soup of regional trading blocs and political configurations. There’s the CELAC, UNASUR, Mercosur, ALBA and the Andean Community, just to name a few.

But the two-year old Pacific Alliance is already something of a standout. On Thursday, the presidents of Colombia, Mexico, Peru and Chile, which form the Alliance, will be meeting in Cali, Colombia.

The group is hoping to tear down business barriers and allow the free flow of goods, services and labor. It also wants to be the regional nexus for trade with Asia.

Unlike other regional blocs, which are essentially “political talk shops,” the Pacific Alliance can boast results, said Eric Farnsworth, of the Council of the Americas.

Already, Mexico has dropped visa requirements for Colombians and Peruvians, the four nations share investment and commercial offices in some nations, and are ready to begin sharing some embassies in ... Read More

Humala’s approval rating in Peru slips to 6-month low

| May 20th, 2013 | No Comments »
Yahoo News-01

LIMA (Reuters) – President Ollanta Humala’s approval rating fell 5 points to a six-month low of 46 percent, reflecting the unpopularity of his proposal to buy an oil refinery owned by Spain’s Repsol and his support for Venezuela’s new government, an Ipsos poll showed on Sunday.

The nationwide poll was published by the newspaper El Comercio.

Humala abandoned his idea of buying the Repsol oil refinery after business leaders complained it would hurt the private sector and put one of the country’s main refineries in the hands of an inefficient state-run firm.

Although Humala has drifted to the right since running for office in 2011 as a moderate leftist, his critics have hammered him over his friendship with late Venezuelan President Hugo Chavez and Peru’s diplomatic support for his successor, Nicolas Maduro, who won a disputed election in April promising to push ahead with Chavez’s socialist drive.

El Comercio reported that three-quarters of Peruvians polled said they did not approve of the way Maduro ... Read More

Latin America’s Free Trade Champions

| May 16th, 2013 | No Comments »
PJ Media

Chilean finance minister Felipe Larraín has called it “the most exciting thing going on today in Latin America.” Colombian president Juan Manuel Santos believes it is “perhaps the most significant and profound integration process in the history of Latin America.” A recent headline said it has created “a new Latin American superpower.” It has also been hailed as a “bridge to Asia” and “a promising yardstick of Latin America’s prosperity.”

“It” is the so-called Pacific Alliance, a free-trade bloc that was first outlined in the April 2011 Lima Declaration and was officially established in June 2012. Its four members are Chile, Colombia, Mexico, and Peru — four countries with a long record of supporting free markets and open commerce. Over the past year, these countries have abolished tariffs on 90 percent of all goods they trade with each other, and have also taken many other steps (such as eliminating visa requirements, merging stock exchanges, and launching a scholarship program) to integrate their economies. ... Read More

Peru foreign minister quits over health after Venezuela spat

| May 16th, 2013 | No Comments »
Article originally appeared in Reuters

(Reuters) – Peru’s foreign minister has resigned, the government said on Wednesday, days after he was criticised for contributing to a diplomatic spat with Venezuela.

Rafael Roncagliolo, 68, resigned “strictly because of health reasons,” the office of President Ollanta Humala said in a statement.

Justice Minister Eda Rivas will be Peru’s new foreign minister, the government said. Daniel Figallo, a deputy minister of human rights, will replace Rivas as justice minister.

“He has done an impeccable job with the foreign relations of our country,” the statement said of Roncagliolo.

Roncagliolo, appointed by Humala in 2011, faced increasing criticism from the left and right in recent weeks over his handling of diplomatic tussles.

In early May, Roncagliolo called for “tolerance” in Venezuela and urged the South American bloc Unasur to mediate political tensions in Caracas after a disputed election there won by President Nicolas Maduro.

Maduro complained that Roncagliolo was giving voice to opposition leaders.

“You may be Peru’s foreign minister, ... Read More

Where does Latin America stand?

| May 15th, 2013 | No Comments »
The Miami Herald

BY CARLOS ALBERTO MONTANER

How’s your wife? It depends — compared to whom?

That’s a frequent dialogue among witty Spaniards. I imagine that women could respond the same way. We husbands fare badly when compared with Brad Pitt, much better if contrasted with Eduardo Gómez, the super-ugly doorman’s father in the comedy series Nobody Can Live Here on Spanish TV.

The same happens with countries and regions. To understand where we stand, we have to know where the others are and at what pace we move.

All this becomes relevant apropos the recent report on the most successful countries in Latin America. According to the news, the three wealthiest economies in Latin America are Chile, Panama (which has been growing at the rate of 8 percent for almost a decade) and Uruguay.

Argentina is relegated to fourth place, a fact perhaps explained by its lack of transparency. The government of Cristina Kirchner adulterates the rate of inflation ... Read More

Bloom is off Chicago’s Ecuador connection

| May 15th, 2013 | No Comments »
Chicago Business

BY PAUL MERRION

The expiration of trade incentives for Ecuador this summer could wilt a new flower distribution center at O’Hare International Airport just as it’s about to get off the ground.

The joint venture developing the nearly $2 million refrigerated processing center expects to have it ready by July, and a rose exporter from Ecuador has been lined up to start bringing two flights a week into Chicago.

But on July 31, the cost of importing cut roses from Ecuador will jump 7 percent when duty-free treatment under the Andean Trade Preference Act expires, reinstating the U.S. tariff in that amount.

Ecuador has expressed great interest in the O’Hare center, and “their support on the project is very crucial,” said Shlomo Danieli, a flower grower in Wilmette and one of three partners in the O’Hare flower distribution center. “If we have to pay a tax, it will put a burden on the project, but it ... Read More

Page 4 of 18« First...«23456»10...Last »