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What now for South America and Venezuela as the pink tide recedes?

While nearly two decades of ideologically driven economic mismanagement has turned Venezuela from a relatively wealthy oil state into a Zimbabwe-like basket case, Chile has mainly stayed the course, politically and economically, just to the right or left of the sensible centre. Wild swings avoided Since the restoration of democracy in the late-1980s, this long, thin ribbon of a country has largely avoided the wild boom-and-bust pendulum swings that have characterised much of the continent’s stop-start…

Can Argentinas decrease in growth rate actually help the economy?

The World Economic Outlooks report forecast figures for Latin American growth rate were brought down by the IMF on Tuesday to 2.7%. The Chief Economist for the World Bank’s Latin America and Caribbean Office, Augusto de la Torre said that Argentina is above Latin America and Caribbean countries average in terms of growth this year with a combined estimate of 2.5% for the region. Cristina Kirchners administration optimistically forecast 6.2% for this year. However according to the 2014 Budget both institutions…

More firms forming special practice groups to capitalize the South American booming business market

Hot spots in the Latin American economy include tourism, agriculture and energy, according to Francisco Cerezo, chairman of Foley & Lardner’s new Latin America practice group. The firm recently announced that it was forming a special practice group to capitalize on its Latin American business, which is one of the bright spots in the economic downturn. Earlier this month, Foley & Lardner hired Cerezo away from Greenberg Traurig, where he was a shareholder, to head up the new practice group, which is…

Middle-class growing strongly in Latin America

Latin America’s Middle-class increased by 56 million since 1999 with a direct consequence on consumption patterns and demand for government policies, according to a report in the latest edition of the United Nations Economic Commission for Latin American and the Caribbean, ECLAC Review. “This represents a formidable increase of the consumers’ market”, according to the ECLAC newsletter featuring expert analysis on issues such as changes observed in the middle classes in recent years, and the “China…