Latin America Increases Military Spending As Poverty Grows Worse
Comments OffLeaders of Latin American nations have embarked on record military spending, while their citizens face the worst level of poverty in years.
Tension between neighboring countries and the Colombian government’s decision to forge closer ties with the United States in its fight against drugs have fueled what some are calling an arms race.
“This trend is worrisome,” [...]
Chile invites Peru to disputed military exercise
Comments OffThe Chilean air force said Tuesday it has invited its Peruvian counterpart to send observers to military maneuvers that Peru has interpreted as threatening and wants canceled.
The air exercise is set for late October in an area of northern Chile near Peru and is to include participation by the air forces of the United States, [...]
Chile May Cut Investment Barriers to Boost Trading
Comments OffChile will seek to ease access to capital markets for foreign investors and authorize new financial instruments such as covered bonds to increase trading, Finance Minister Andres Velasco said.
A bill with the changes will be sent to Congress this week. The government wants to broaden tax breaks for foreigners, allow exchange-traded funds and promote investment [...]
Global Slowdown Biggest Threat To Chile Fincl System
Comments OffA prolonged global economic slowdown and tight international credit conditions remain the biggest threats to Chilean financial stability, Chile’s central bank said Wednesday in its half-year Financial Stability Report.
As the Chilean economy is very dependent on exports, the expected contraction in the global economy due to the international financial crisis will have a strong impact [...]
Chile's $5.7 Bln In New Public Spending Not Seen As Stimulus
The $5.7 billion increase in Chile’s public spending will offset falling tax revenues as the economy skids, but isn’t likely to get it back on the fast track anytime soon.
The government announced Monday it will increase spending this year 14.5% from 2008 as it seeks to boost sagging economic growth and cover the gap in [...]
