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Uruguay’s Economy continues to grow

Uruguay’s economy has expanded 3.7% during the second quarter of 2014 making for 10 years of continuos expansion. With the exception of construction, which had a negative performance, all other sectors of the Uruguayan economy expanded during the second quarter compared to 2013. Exports during the period, increased 8.1% in volume on an annual basis while imports increased at a 2.4% rate. Last year the Uruguayan economy expanded 4.4% above the government target and other estimates such as the IMF and World…

Is Argentine property a buy ?

Is Argentine property a buy ? Argentina is now one of the cheapest markets in the world. With good reason, Argentina has been out of favor for ten years, due to its current and past incompetent fiscal management and erratic investment policies. For some time there has been a concern that it was following in the footsteps of the failed state of Venezuela previously led by the deceased dictator Hugo Chavez. However, there a large differences between Argentina and the Central American Countries have followed the…

How many hours do South American workers need to work to pay their taxes

According to the World Bank workers in Uruguay spend half their working day to support the government. However on the other side they only spend 113 working days per year making them some of the least productive in the region. This compares poorly with Chile at 146 working days and Argentina 203 days. Source Banco Mundial, El Pais, Infonegocia, La Nacion (Visited 1 times, 1 visits today) About Gateway to South AmericaGateway to South America is an independent Brokerage and Advisory company committed to helping…

Latin America is Bank Santander’s Cash Box

Latin America  represents 51% of group’s profits; In Argentina, Santander Río is its biggest private entity Emilio Botín, the powerful chairman of the Santander group who died on Tuesday, had strong ties with Latin America that went well-beyond the financial elite. He rubbed shoulders with Spanish royalty and regularly received political leaders and heads-of-state at his office in Madrid. Botín was able to take advantage of cultural and language ties to rapidly expand his group into Latin America, where…

For decades Switzerland has had bank secrecy. Now it does not. Ouch for the rich and corrupt politicians

What is the affect of those with bank accounts in Switzerland. When Switzerland’s made a decision to accept exchanging banking information, tax and other corporate information with countries with which it has signed agreements to avoid double taxation (including Argentina, Brazil and Uruguay), the financial industry found it must adapt quickly to this new situation or decline. Switzerland has made it clear that it would no longer help its business clients and foreign politicians protect assets not declared…

Argentina: Doug Casey’s favorite place in the world

Taken from a recent interview done by Lous James Let’s start with the big question. Why, of all the places in the world you could have selected to build your vision of paradise on earth, did you choose Argentina? Doug: For some time now, I have stressed the importance of diversifying internationally. I wanted to diversify outside of the United States, because although every country in the world is headed in the wrong direction, at this point in time the US is heading there more quickly and with far more…