Author: Juan Martinez

Paraguay is defying economic odds with a remarkable 4.6% growth in the first seven months of 2024, sending a clear message of resilience to the world. The latest report from the Paraguayan Central Bank highlights a diverse range of sectors driving this growth, including services, manufacturing, construction, livestock, and agriculture. Within the services sector, financial intermediation, trade, transportation, and government services are thriving, while telecommunications and information services are facing challenges. Manufacturing is a mixed bag, with meat production, dairy, milling, and bakeries doing well, but sugar, beverages, and tobacco struggling. Construction is on the rise due to increased activity…

Alberto Fujimori, Peru’s former president, passed away on September 11, 2024, at the age of 86. His life and career were a mix of remarkable achievements and controversial decisions that still divide Peruvian society. Fujimori, born to Japanese immigrants, rose to power by winning the 1990 presidential election as an outsider, connecting with Peru’s Indigenous and mixed-race populations. In office, he implemented bold economic reforms like lifting subsidies, privatizing companies, and reducing trade tariffs to combat hyperinflation. Despite initial challenges, his policies stabilized Peru’s economy and led to future growth. Fujimori also successfully fought the Shining Path guerrillas, capturing their…

The International Monetary Fund (IMF) is urging the Dominican Republic, the largest economy in the Caribbean, to implement crucial fiscal reforms. Despite years of strong economic growth, the country faces challenges such as high interest rates on public debt and low tax revenues, impacting its credit rating. The IMF suggests streamlining tax incentives and exemptions to simplify the tax system and reduce evasion. Increasing tax revenues by at least 2% of GDP could lead to more public investment and social spending, boosting GDP in the long run. Climate change also poses a threat to the Dominican Republic’s economy, with annual…

Ecuador’s National Assembly is at a crossroads with the impending impeachment trial of Attorney General Diana Salazar. The case, which began in November 2023, has faced twists and turns, culminating in a crucial decision by the legislative body. Salazar, accused of negligence in money laundering cases and biased handling of political matters, also faces criticism for poor administrative management. Despite a suspension due to a high-risk pregnancy in May 2024, Salazar requested the Assembly to resume proceedings in a surprising move. Spearheaded by two lawmakers from the Citizen Revolution Movement, the impeachment effort highlights the political divide in the Assembly.…

The political crisis in Venezuela intensifies as opposition leader Edmundo González Urrutia seeks refuge in Spain, sparking a new wave of migration across Brazil and neighboring countries. Following the July 28 elections, the UN refugee agency reports a 25% increase in asylum applications from Venezuelans, with a significant rise in numbers in just one month. Pacaraima, a Brazilian border town, experiences a surge in Venezuelan refugees, with 11,325 arrivals in August. Brazil’s migration system, exemplified by Operation “Acolhida,” remains among the most accommodating globally. Despite border control measures, challenges persist for Venezuelan migrants, with over one-third lacking legal status. Organizations…

Colombian truckers and the government have ended a four-day strike with a breakthrough agreement on fuel pricing adjustments. The Ministry of Transport announced a two-phase diesel price increase, with the first 400 pesos already in effect and another 400 pesos set to begin on December 1. This compromise, scaled down from the initial proposal, also includes a revision of the Sicetac system that determines freight rates. Notably, fines for truckers penalized during the strike have been lifted, along with adjustments to Resolution 40350. Following these changes, no further price hikes will occur until significant economic reforms in cargo and passenger…

In 2022, Honduras is embroiled in a political storm surrounding President Xiomara Castro, with allegations of corruption and ties to drug trafficking plaguing her administration. The crisis erupted with the emergence of a video showing Castro’s brother-in-law, Carlos Zelaya, engaging with drug traffickers in 2013, allegedly offering $650,000 for Castro’s presidential campaign. Further fueling controversy, Castro’s government recently terminated the extradition treaty with the U.S., raising suspicions given past extraditions of Hondurans on drug charges. Castro has denounced a coup plot against her, attributing it to internal and external threats. Despite campaign promises to combat corruption and drug trafficking, Castro’s…

Venezuelan forces recently ended their siege at the Argentine embassy, offering refuge to six opposition members inside and restoring power. This development was initially reported by local media and later confirmed by allies of President Lula da Silva of Brazil. The embassy has been under Brazilian protection since Argentine diplomats were expelled by the Chavista regime. The Venezuelan news portal Efecto Cocuyo covered the power restoration and asylum seekers. Despite tensions, Brasília affirmed its continued guardianship of the embassy until Argentina appoints a new representative. The blockade began on Friday, creating a challenging situation for the individuals seeking refuge, including…

Recent events in Venezuela have sparked diplomatic tensions and raised concerns about international relations in Latin America. The Venezuelan government has revoked Brazil’s privilege to represent Argentina in the country, citing allegations of terrorist activities and plots against President Maduro and Vice President Rodríguez. This decision follows increased police activity around the Argentine embassy and the expulsion of diplomats from various Latin American countries critical of the Venezuelan government. The move has left Argentina without official representation in Venezuela and exposed Venezuelan opposition members sheltered in the embassy to increased risks. The situation highlights the complexities of diplomatic relations and…

Venezuelan Opposition Leader Edmundo González Urrutia escapes to Spain after receiving political asylum, following accusations of crimes by Venezuelan prosecutors. The Spanish Air Force plane facilitated his departure, and his exact location in Spain remains undisclosed. The Venezuelan and Spanish authorities cooperated to ensure a smooth diplomatic process. Meanwhile, María Corina Machado, another prominent opposition figure, remains in Venezuela despite government disqualification attempts. She continues her political activities and campaigns alongside González, vowing to keep pressuring President Nicolás Maduro to leave office. Ongoing Political Crisis González’s escape deals a blow to the opposition movement amid the disputed 2024 presidential election.…