Bolivia to expel Coca-Cola in wake of 2012 Mayan “apocalypse.”

August 13, 2012 By Leave a Comment

Bolivia, August 1, 2012: The headlines read; “End of capitalism” Bolivia to expel Coca-Cola in wake of 2012 Mayan “apocalypse.”

Rumor traveled fast in cocktail parties throughout South America that Evo Morales, Bolivia’s President, was trying to do what Peru’s President, Juan Velasco Alverado, had failed to accomplish in 1970, kick out Coke.

Murcadom’s President, Jock Chamberlain, who is very familiar with Coca-Cola in Bolivia, is not too worried about Bolivia’s posturing. After all, Coca-Cola began importing coca leaves from South America for its original formula going back to 1919.

Already, Bolivia’s foreign minister, David Choquehuanca, has softened his tone and claimed that statements were taken out of context and that natural soft drinks were better for your health (compared to Coca-Cola).

It seems the Sr. Choquehuanca and New York’s Mayor, Michael Bloomberg, have a lot in common when it comes to soft drinks.

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Paraguay’s presidential impeachment puts Venezuela in Mercosur trade bloc

August 8, 2012 By Leave a Comment

Latin America Update: August 8, 2012                     

Untapped Internal Markets of Venezuela Now Open for Mercosur Countries

Paraguay’s presidential impeachment puts Venezuela in Mercosur trade bloc. Mercosur = Argentina, Brazil, Paraguay (suspended), Uruguay, and now Venezuela.

Strike #1: Paraguay, known as a hub for trafficking of contraband and drugs, has gone through periods of political instability since the dictatorship of Alfredo Stroessner in 1989. On June 23, 2012, Paraguay’s senate voted to impeach its President and colorful left-wing Catholic Priest for fathering several children.

Strike #2: Paraguay’s Vice-President, Luis Federico Franco, is installed as interim president of Paraguay, a move that is considered an “express coup d’etat” by the members of Mercosur who vote to suspend Paraguay from its membership.

Strike #3: Without Paraguay’s vote, Mercosur moves to confirm Venezuela’s full membership, long opposed by the Paraguayan Senate due to concerns about Chavez’s democratic credentials.

Result : Venezuela is “in” and buying planes from Brazil’s Embraer, and Paraguay is “out” and claiming diplomatic isolation. As the saying goes, 3-strikes and you’re out.

#Update from Jock Chamberlain, President Murcadom Corporation#

 

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International Monetary Fund Revises Outlook for Latin American Economies

April 27, 2012 By Leave a Comment

Latin America Update: April 26, 2012

IMF

Latin American economies are expected to grow 3.7% this year and 4.1% in 2013.  (These estimates exceed the values published in January.)

Net Flow of Mexican Immigrants to USA Stops
For the first time in 40 years, data shows that net migration from Mexico to the USA has dropped to zero.

Argentina Among Top 5 Countries with Highest Credit Risk

We are keeping a close watch on Argentina due to high credit risk, the recent nationalization of Repsol, import and export restrictions, rapid inflation, as well as an unstable political environment.

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Dueling is Still Legal in Paraguay.

March 14, 2012 By Leave a Comment

Latin America Update: March 14, 2012

However, duels can only take place between two people, the duel must be registered with the authorities, there has to be medical staff on hand, and participants must be registered blood donors.

China Replaces the US as Peru’s Top Export Market

Two years after signing a bi-lateral free trade agreement with Peru, China replaces the United States as the top market for Peruvian exports (led by Mining and Fisheries). The US remains the leader for Peruvian imports, followed closely by China.

Inter-American Development Bank (IBD) Board of Governors to Converge on Montevideo

Murcadom President Jock Chamberlain will be in attendance when the Inter-American Development Bank (IDB) holds its annual meeting next week in Montevideo, Uruguay.

The largest source of development financing for Latin America and the Caribbean, the IDB is made up of 48 shareholders and includes 26 Latin American and Caribbean member states.

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Peruvian Delegation to Ring Opening Bell at NYSE

March 8, 2012 By Leave a Comment

Latin America Update: March 8, 2012

Peruvian Delegation to Ring Opening Bell at NYSE

The second annual Peru Day will be held tomorrow, March 9th at the New York Stock Exchange with the participation of senior officials of the Peruvian Government and leaders of the Peruvian private sector.  Peru’s robust growth makes it a leading investment option in Latin America.

Chinese Firm Kickstarts Dormant Mining Industry in Ecuador with $1.5 Billion USD

China’s Ecuacorriente S.A. signed a 25-year agreement to operate an open-pit copper mine and make a $1.5 billion USD investment in Ecuador.  Mining contracts in Ecuador require a 52% royalty on profits and this precedent-setting agreement includes a $100 Million USD advance royalty payment to the Government of Ecuador.   Kinross (Canada) and International Minerals Corporation (US) are currently negotiating similar agreements with Ecuador.

Chile to Invest $4.3 Billion USD in Copper Mining During 2012

Chile’s state-run mining company will invest a record $4.3 billion USD this year to expand copper mining operations.  The 16,000 employees of La Corporación de Cobre de Chile (Codelco) are expected to produce approximately 1.7 million tons of copper or 30% of Chile’s yearly output.

Mexican Carlos Slim Tops Forbes List of Billionaires

Carlos Slim, the chairman of Mexican telecommunications conglomerate Telmex is worth about $69 billion USD. Telmex and its associated companies are active throughout Latin America.

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Mexico Prepares for G-20 Summit in June

February 25, 2012 By Leave a Comment

Latin America Update: February 22, 2012
G20 Mexico

Mexico Prepares for the G-20 Summit in June

Mexican President Felipe Calderón met this week with representatives from G-20 nations in preparation for the annual summit to be hosted by Mexico in Los Cabos this June (the first G-20 summit in Latin America). The G-20 is potentially the most influential association of finance ministers from 19 major global economies plus the European Union. G-20 economies account for more than 80 percent of global trade and represent two thirds of the global population.

Construction of Subway in Lima, Peru

Peruvian President Ollanta Humala announced the construction of Lima’s first underground train system. Over 30 kilometers of construction is expected to cost $2 Billion USD. The system will be operational within 6 to 10 years.

Colombia to Triple Infrastructure Investments

Colombia has an immediate need of $20 Billion USD worth of highway infrastructure development to support economic expansion. The government has pledged to triple infrastructure investment to 3% of GDP by 2014.

US & Mexico Sign Deep Water Oil Deal

The agreement lifts the moratorium on oil and gas exploration in the 1.5 million acre trans-boundary region of the Gulf of Mexico.

 

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United States – Colombia Free Trade Agreement Update

February 16, 2012 By Leave a Comment

Latin America Update: February 16, 2012

Update on the US-Colombia FTA

While the US-Colombia trade deal was approved by Congress in October, it’s not yet in effect due to a disagreement over Colombia’s compliance with US-imposed labor requirements. US officials report that the FTA should be active within “months.” Key U.S. exports will gain immediate duty-free access including almost all products in these sectors: agriculture and construction equipment, aircraft and parts, auto parts, fertilizers and agro-chemicals, information technology equipment, medical and scientific equipment, and wood.

Mexican Drought Hits Agriculture Hard

The worst drought in 71 years is currently affecting 22 of the 31 Mexican states with a 40% reduction in corn and bean yields, staples of the Mexican diet. Mexico is the United States’ third most important trading partner after Canada and China.

UNASUR to Propose a Fiber Optic Ring for South America at Meeting in Paraguay

The Union of South American Nations (UNASUR) will discuss a proposal to implement a Fiber Optic Ring to lower the cost of Internet throughout South America. Internet “bandwidth” in South America is three to four time more expensive than in North America. Representatives from the 12 nations of UNASUR meet again on March 9th in Asunción, Paraguay.

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Missing Link in the Pan-American Highway

February 8, 2012 By Leave a Comment

Latin America Update: February 8, 2012    

Pan American Highway

Missing Link in the Pan-American Highway

The 30,000 mile Pan-American Highway crosses the entirety of North, Central, and South America, with the sole exception of the impenetrable Darién Gap. This dense swampland and forest separates Panama from Colombia and includes 99 miles of the most thick and dangerous jungle in the world. Be advised before packing your minivan and heading to Argentina for the family vacation.

Panama joins ALADI (HQ in Uruguay) as the 13th Member State

The Asociación Latinoamericana de Integración (the Latin American Integration Association, known as ALADI in Spanish) is a Latin American trade association formed in 1980 and based in Montevideo, Uruguay. The organization promotes trade integration and the creation of a Latin American common market. Panama recently joined as the 13th member state while Nicaragua’s membership remains pending.

iTunes Brazil

Apples recently launched the iTunes store in Brazil and 16 other Latin America countries. Sales of Apple products in Latin America is surging, and current rumors indicate that Apple may be setting up a Brazilian manufacturing operation for the iPad and iPhone.

 

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World Economic Forum talks about Latin America

February 1, 2012 By Leave a Comment

Latin America Update: February 1, 2012
World Economic Forum

Davos-Klosters, Switzerland

The World Economic Forum annual meeting wrapped up this past weekend in Davos-Klosters, Switzerland. Latin America was identified as an “oasis of stability, growth, and opportunity”, in contrast to the uncertainty surrounding the European debt crisis and a slow recovery in the United States. Colombia, Peru, and Brazil remain top destinations for foreign investment dollars.

Falkland Islands back in the News

The UK announced that it will send a Type 45 Destroyer to the Falkland Islands in the midst of escalating diplomatic tensions surrounding the ongoing dispute with Argentina regarding the sovereignty of the territory of 3,000 inhabitants. In December, the Mercosur countries of Argentina, Brazil, Paraguay, & Uruguay decided to ban access to all Falklands flagged vessels in support of Argentina.

Lost and Little-Known in South America

“The Guyanas” refers to a region in north-eastern South America with a combined population of 1.5 Million and includes French Guiana, Guyana, and Suriname. Forget Spanish or Portuguese, you are better off speaking English, French, Dutch, Hindi, or even Cantonese.

 

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Daniel Ortega “Institutional Dictator” in Nicaragua

January 18, 2012 By Leave a Comment

Latin America Update: January 18, 2012

Daniel Ortega“Institutional Dictator” in Nicaragua

Daniel Ortega started his second consecutive term as President of Nicaragua last week and will have governed for 10 years when his current term ends in 2012. He was reelected in November of 2011 even though the Constitution of Nicaragua prohibits consecutive presidential terms. His political party also controls the legislative and judicial branches of the government, making him a de facto “institutional” dictator.

Panama Canal Construction to Finish in 2014

The new Panama Canal will allow huge freighters from Asia to bypass US West Coast ports and head directly to the Gulf of Mexico and East Coast ports. The $5.25-billion project will make the 50 mile Panama Canal wider and deeper. Construction is 32% complete with a projected completion in October of 2014. The new locks use 29 times more steel than the Eiffel Tower.

Countries visited by Iranian President Mahmud Ahmadineyad last week:

Venezuela, Nicaragua, Cuba, Ecuador

Cattle per Capita (CPC)

Uruguay has the highest Cattle per Capita (CPC) in the world with 12 million head of range-fed Hereford cattle for a population of 3.3 million people. That means there’s 3.7 head for each Uruguayan resident. Beef accounts for over 25% of Uruguay’s exports, more than $1.0 billion (USD). Too bad Ray Kroc never tasted a Big Mac in Montevideo. They say it’s the best in the World.

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