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Latin America at a glance: August 2016

Argentina

  • Buenos Aires, next September 12-15 the Argentinian Business and Investment Forum will take place. The event will be honored by the participation of President Mauricio Macri. More information at http://www.argentinaforum2016.com/
  • August 12, Argentina looks to raise infrastructure investment to 6% of GDP. The government’s national public investment plan for 2016-19 calls for more than US$7bn to be pumped into infrastructure projects to help spur on the country’s economy, which is expected to contract 1.5% this year and expand 2.8% in 2017. Source: July IMF report.
  • Buenos Aires, August 13. The Subsidize of energy in Argentina during the Kirchner period, increased from 1.5% of government spending in 2005 to 12.3% in 2014. For Mr. Mauricio Macri , Argentinian President, said the energy crisis was the most complex of the “many bombs” that Ms. Kirchner had left for him. Not only the utilities reduced cash for local investment and but also the increase of price in utilities won’t support the attraction for foreign investment. Source: the Economist
  • Finnish turbine manufacturer Wartsilä will install thermal power plants with capacities of 100MW and 89MW in Argentina’s Buenos Aires and Jujuy provinces, respectively. The projects will be operated by Albares Renovables and Sullair Argentina and are among five plants totaling 381MW that Wärtsilä will build following a recent national tender for thermal generating capacity. Source: BnAmericas
  • On June 30th the 500 Pesos (approximate 32 USD) note was implemented, due to the high inflation of the Argentinian Peso and because the 100 Peso note was not sufficient to trade and Argentinians needed to queue in the cash dispenser, that sometimes were needed to be refilled twice a day. With the new bill, it is expected to withdraw up to 2,400 pesos ($160) per transaction.
  • June 15. INDEC, the national statistics institute, revealed that prices went up by 4.2% during May alone, Mr Macri’s initiatives to normalise the economy have steadly increase the price in utilities including electricity, water, gas and transport.  Source: The economist

#Billete500pesos

Bolivia

  • Bolivia to invest US$158mn in water, irrigation projects. The environment minister Alexandra Moreira announced that The Inter-American Development Bank (IDB) approved a loan for irrigation projects. The environment ministry is investing in water cisterns and rainwater harvesting programs, particularly in northern Bolivia, where the drought has hit hardest, Moreira said. Source: BnAmericas

Mexico

  • August 12.  Mexico’s northeastern Gulf coast state of Tamaulipas has set up a state-level energy agency and launched a website to showcase the sector. http://www.energia.tamaulipas.gob.mx/aee/
  • Tamaulipas is home to the Altamira block of onshore oil fields, part of the Tampico-Misantla basin, and the state’s two mentioned ports that are undergoing expansions that will increase their strategic importance as export and import hubs. Several investment agreements has been signed with companies like Enagás, Fermaca, Acciona. Source: BnAmericas.

 

Peru

  • Five of Peru’s southern regions are seeking 8.90bn soles (US$2.7bn) in private investment for 44 public-private partnership (PPP) infrastructure projects.

  • President-elect Pedro Pablo Kuczynski, who took office on July 28 after winning last recently elections, seeks to fast-track US$25bn in delayed infraesucture projects including line No. 2 of theLima Metro as well as the southern Peruvian natural gas pipeline, the Lima and Chinchero airports and the Lima-Ica highway. Source: ProInversion

 

Venezuela

  • CARACAS, Venezuela, August 13. Venezuela and Colombia reopened their border. Presidents Nicolas Maduro of Venezuela and Juan Manuel Santos of Colombia agreed to gradually reopen the border checkpoints. Venezuelans have been desperate to cross into Colombia to buy basics as shortages worsen in their economically struggling country, an OPEC member that has been hit hard by the fall in oil prices. Some people in the towns on the Venezuelan side of the border have died after being refused permission to cross to better-stocked Colombian hospitals. Source: FOX News
  • Ybarra Zavala a photographer from Getty Images, was interviewd by the Time magazine which published “Venezuela is dying”. Take a look of the impressive images taken by Mr Zavala during his last visit to Venezuela at: http://www.argnoticias.com/internacional/La-triste-situacion-de-Venezuela-llego-a-la-portada-de-la-revista-Time-Venezuela-is-dying-20160812-0009.html