Colombia’s central bank is boosting its international reserves by $1.5 billion to ensure stable external liquidity and safeguard the nation’s financial health. It aligns with a $9.8 billion IMF credit line granted in 2022 for crisis prevention and pandemic recovery. The bank’s board has approved this reserve growth program, clarifying no intent to manipulate the […]
The Indian Parliament suspended a record 141 opposition lawmakers, the largest such action in India’s history, for insisting on a debate about a security breach in the Lok Sabha. On December 13, two individuals disrupted the lower house by releasing gas canisters. The opposition sought to discuss this incident but faced suspension instead. The Indian […]
China’s social credit system, a subject of global scrutiny, is evolving differently than initially projected. Contrary to widespread belief, the system is not fully operational nationwide as of 2023, writes The Wire China The financial aspect, managed by the central bank, is more established, tracking over a billion individuals and numerous companies. However, the social […]
Nigeria’s naira recently faced significant fluctuations, dropping to a historic low of N1,099.05 per dollar and then appreciating to N843.07/$1. This volatility reflects Nigeria’s economic challenges and the Central Bank of Nigeria’s (CBN) efforts to stabilize the market. The CBN extended the timeline for issuing letters of credit due to foreign exchange scarcity. In June […]
Chile’s Central Bank, BCCh, recently reduced the monetary policy rate (TPM) by 75 basis points to 8.25%. Despite this cut, Chile still has one of the world’s most contractionary TPMs. A report by Scotiabank estimates Chile’s real TPM in December to be 3.75%. This ranks it among the five highest globally. In comparison, Chile’s current […]
Just a year after China approved Brazilian corn imports, Brazil has surpassed the United States as the main corn supplier to China, according to China Customs. By November, Brazil's exports to China reached 8.79 million tons. This accounts for 40% of China's total corn imports of 22.18 million tons. In contrast, the U.S. provided nearly […]
In November, Brazil experienced a decrease in federal tax collection, totaling R$ 172.038 billion ($35.1 billion). This represents a 0.39% drop in real terms from the same month in 2022. The Brazilian Tax Authority released this data on December 20, 2023. The revenue managed by the Authority was R$ 165.641 billion ($33.8 billion), down by […]
The European Union finalized a significant agreement on migration and asylum, implementing stricter asylum procedures at its borders. It aims to share the burden of hosting migrants more evenly across member states. Southern European countries, often the first entry point for migrants, will enforce these stricter rules. Under the agreement, countries can choose to accept […]
In a recent development, Ismail Haniyeh, the leader of Hamas, visited Cairo to discuss a ceasefire with Egyptian mediators. Simultaneously, Israeli officials, engaging with US and Qatari representatives, showed openness to a truce. These developments suggest a possible halt to the ongoing conflict in Gaza. The situation in Gaza has been severe. Israeli attacks in […]
In 2023, the escalating migration crisis in the Americas saw over 500,000 migrants, predominantly Venezuelans and Ecuadorians, crossing Panama’s Darien Gap. This influx, more than double the 2022 figure, strains local healthcare systems. The Pan American Health Organization (PAHO) is working to improve healthcare access for migrants and strengthen health services along the migration route. […]
(Opinion) Google’s initiative to limit Bard’s election-related responses and label AI-generated content reflects a growing trend in tech regulation. Similar to Meta’s ban on AI tools in political ads and the EU’s labeling laws, these measures aim to fight misinformation. However, they raise critical concerns. Firstly, there is the risk of over-censorship, potentially stifling legitimate […]
A recent survey by PoderData showed a decrease in Brazilian President Luiz Inácio Lula da Silva's approval rating in 2023. It fell from 52% in January to 46% by December. This 6% drop is significant, indicating a change in public opinion. Simultaneously, disapproval rose by 5%, from 39% to 44%. These changes occurred over the […]
In December, Brazil's Army delegation visited the U.S. Army Security Assistance Command at Alabama's Redstone Arsenal. Their goal was to discuss acquiring 16 UH-60M Black Hawk helicopters. Under the Foreign Military Sales program, this purchase aims to modernize Brazil's military capabilities. Led by Brigadier General Brad Nicholson, the meeting included Brazilian high-ranking officers. Major General […]
Brazil has climbed two spots in global industrial exports, surpassing Indonesia and Sweden, securing the 26th position. The Brazilian manufacturing sector now contributes over 1% (specifically 1.05%) to international trade in these goods, marking a positive shift after a decade of decline. Nevertheless, Brazil still lags behind the top 15 global exporters like Mexico, India, […]
This week, Uganda’s highest court is examining a controversial anti-LGBTQ+ law, widely criticized internationally. Among the world’s strictest, this law threatens the LGBTQ+ community with severe punishments, including the death penalty. As a result, it has sparked a humanitarian crisis. President Joe Biden reacted by removing Uganda from a favorable U.S. trade agreement. Similarly, the […]
The International Labour Organization (ILO) recently highlighted a growing issue in Latin America and the Caribbean. The "working poor" phenomenon, where employed individuals live in poverty, is on the rise. This is largely due to the high inflation impacting the region, eroding the purchasing power of labor incomes. The ILO's "Labor Outlook 2023" report […]
The Spanish government plans to invest up to $2.2 billion in Telefónica to safeguard a vital national asset against Saudi Arabia’s growing involvement in the company. Telefónica is a leading global telecommunications company of Spanish origin. It operates in 12 countries and employs an average of 113,182 people. Spain’s investment entity, Sepi, will acquire up […]
The Colorado Supreme Court ruled that former President Donald Trump is ineligible to participate in the state’s primary elections. This decision emerged from a close 4-3 vote. It creates a legal precedent. This precedent could lead to similar rulings in other states. Such rulings might affect Trump’s ability to run in the 2024 presidential elections. […]
The Ibovespa, Brazil's main stock index, hit a new high on Tuesday, closing at 131,850.91 points. Earlier in the day, it even surpassed 132,000 points. This marks its third consecutive record day. The streak of records started last Friday. This was right after Brazil's Chamber of Deputies approved a tax reform. The market has been […]
On Tuesday, Ecuador’s National Assembly approved a new tax reform proposed by President Daniel Noboa. Its goal is to boost the state’s budget by $832 million in 2024. This measure addresses Ecuador’s current economic challenges. The reform introduces free trade zones. It also offers tax incentives. These incentives aim to create jobs, especially for young […]
Recently, Standard & Poor's Global Ratings upgraded Brazil's credit rating from BB- to BB, reflecting positive changes in the country's economy. The agency made this decision on Tuesday. It based its decision on two key improvements in Brazil. First, there was the successful approval of fiscal reforms. Second, Brazil's economic growth prospects have improved. The […]
Recently, the Conmebol headquarters in Luque, Paraguay, hosted the draw for the 2024 Copa Libertadores. The Copa Libertadores is an annual international club football competition held in South America, widely regarded as one of the most prestigious tournaments in the world. This event set the matches for the early stages of the soccer tournament. The […]
