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☆ EU seeks to revive Latin America, Caribbean ties as it turns away from China, Russia
▼ + stars: | 2023-07-17 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +3 min

Regardless of the outcome, officials said the meeting itself marked a step towards stronger ties. "The most important issue of the meeting is the meeting itself," Argentine Undersecretary for Latin American and Caribbean affairs Gustavo Martinez Pandiani told a small group of reporters in Brussels. The EU has said it wants a joint declaration condemning Russia, but knows this will be difficult to achieve. The EU and Argentina will sign a memorandum of understanding on energy cooperation before the summit starts. The EU may also offer details on plans to invest 10 billion euros ($11.2 billion) in CELAC infrastructure projects, part of its Global Gateway initiative.

Persons: Gustavo Martinez Pandiani, Luiz Inacio Lula da Silva, Philip Blenkinsop, Barbara Lewis Organizations: European Union, UN, European, EU, Mercosur, Thomson Locations: BRUSSELS, America, Caribbean, EU, Ukraine, China, Caribbean States, Brussels, Argentine, Russia, Nicaragua, Bolivia, Cuba, El Salvador, Beijing, Mexico, Peru, Venezuela, Chile, Argentina, Brazil, Paraguay, Uruguay

☆ Britain signs treaty to join trans-Pacific trade pact
▼ + stars: | 2023-07-16 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

AUCKLAND, July 16 (Reuters) - Britain on Sunday formally signed the treaty to join a major trans-Pacific trade pact, becoming the first new country to take part since its inception in 2018 and opening the way for members to consider other applications including from China and Taiwan. The signing was part of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) commission meeting being held in New Zealand. Britain's Business and Trade Secretary Kemi Badenoch said at the signing that her country was delighted to become the first new member of the CPTPP. The CPTPP is a landmark trade pact agreed in 2018 between 11 countries including Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. Britain will become the 12th member of the pact that cuts trade barriers, as it looks to deepen ties in the Pacific after its exit from the European Union in 2020.

Persons: Kemi Badenoch, Badenoch, Chris Hipkins, Lucy Craymer, Jamie Freed Organizations: AUCKLAND, Sunday, Trans, Pacific, Trade, European Union, Zealand, Thomson Locations: Britain, Pacific, China, Taiwan, New Zealand, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, Peru, Singapore, Vietnam, Ukraine, Costa Rica, Uruguay, Ecuador, .

☆ Divisive China, Taiwan bids to join Pacific trade pact in focus at meet
▼ + stars: | 2023-07-14 | by ( Lucy Craymer | ) www.reuters.com time to read: +4 min

Britain will become the 12th member to join the pact that cuts trade barriers, as it looks to deepen ties in the Pacific. In support of its application, Britain has said that CPTPP countries will have a combined GDP of 11 trillion pounds ($13.6 trillion) once Britain joins, or 15% of global GDP. "There’s a large gap between the high standards and binding commitments that are demanded of CPTPP members, and where China is currently at," he added. The other countries' applications also provide opportunities. "After modernising the Canada-Ukraine FTA this year, Canada knows that Ukraine is capable of meeting the high standards of the CPTPP," she said.

Persons: Charles Finny, CPTPP, Chris Hipkins, Shu Jueting, Penny Wong, Aidan Arasasingham, Joanne Ou, Roy Lee, Mary Ng, Lucy Craymer, Ben Blanchard, Joe Cash, Praveen Menon, Muralikumar Organizations: WELLINGTON, Trans, Pacific, New Zealand, Reuters, Centre, Strategic, International Studies, Washington DC, Thomson Locations: Pacific, Auckland, China, Taiwan, New Zealand, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, Peru, Singapore, Vietnam, Britain, Costa Rica, Uruguay, Ecuador, Ukraine, New, Beijing, Zealand, Jakarta, Taipei, CPTPP, Wellington

☆ Peru says no Guillain-Barre risk for Corinthians players
▼ + stars: | 2023-07-14 | by ( Story Reuters | ) edition.cnn.com time to read: +1 min

CNN —Peru’s health ministry said on Thursday that Corinthians are not at risk of contracting Guillain-Barre syndrome when they visit the country next week after the coach of the Brazilian soccer team voiced concerns about playing in Lima. Guillain-Barre is a very rare and serious condition that affects the nerves, causing problems such as numbness, weakness and pain. Speaking to journalists after Tuesday’s match, he said those responsible for overseeing the tournament should make a decision to protect players. In response to Luxemburgo’s comments, Peru’s health ministry said in a statement that Guillain-Barre is not transmitted from person to person and that the players “are not at risk of contagion” in the country. “In Peru, there is no restriction regarding this disease, whether they are meetings, national or international trips, events, among others,” it said.

Persons: Vanderlei Luxemburgo, ” Organizations: CNN, Brazilian, Copa Sudamericana, Universitario Locations: Guillain, Barre, Lima, Peru, Brazil, “

☆ Peru vows to use only legitimate force during upcoming protests
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +2 min

LIMA, July 14 (Reuters) - Peru's government vowed on Friday to use only appropriate force in protests planned for next week and guarantee demonstrators' safety, following alleged abuses during the previous series of clashes. President Dina Boluarte met with top officials on Friday to discuss the need to guarantee protesters' human rights. The government's pledge follows months of violent protests between December and March, during which human rights groups documented abuses and multiple "extrajudicial killings" committed by security forces against protesters. Various left-wing groups and unions in Peru have announced new protests starting on July 19 to demand Boluarte's resignation, the closure of Congress, early elections and a new constitution. "We call on citizens who want to exercise the right of assembly, the right to demonstrate and protest, to do so peacefully," Otarola added.

Persons: Dina Boluarte, Alberto Otarola, Pedro Castillo, Otarola, Marco Aquino, Isabel Woodford, Sandra Maler Organizations: Thomson Locations: LIMA, Peru, Lima

☆ Millennial couple's 6 incomes streams bring in $420,000 a year: 'You only get as far as your efforts'
▼ + stars: | 2023-07-13 | by ( Megan Sauer | ) www.cnbc.com time to read: +6 min

Two decades later, Nuñez and his wife Stefani Nicole Penaranda now have two children and six streams of income in Lucketts, Virginia. They own a snowplow business and seven real estate properties. Penaranda runs a day care and is a real estate agent, while Nuñez works in IT consulting and as a cybersecurity contractor. After high school, Nuñez began taking nursing classes at Northern Virginia Community College. "My idea to get to my goals faster was to have different streams of income and revenue," Nuñez says.

Persons: Eddie Nuñez, Nuñez, Stefani Nicole Penaranda, he's, Penaranda, didn't, Samantha Schutz Organizations: CNBC, Northern Virginia Community College, U.S . Border Patrol, University of Maryland Locations: Peru, Ashburn , Virginia, Lucketts , Virginia, Peruvian, U.S, Bolivian, Canada, Tacoma , Washington, Virginia, cybersecurity

☆ Bringing in $420K a year as a recent U.S. citizen
▼ + stars: | 2023-07-13 | by ( Zachary Green | Megan Sauer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBringing in $420K a year as a recent U.S. citizenEddie Nuñez left Lima, Peru at 14 years old for the United States. He made it to Virginia, but 7 years later he was arrested by border patrol and placed in detention. Eddie eventually represented himself before an immigration judge and won asylum. Today, he's a U.S. citizen with a wife and two children. He and his wife earn $420,000 a year from Eddie's work as an IT specialist, their snowplow business, seven rental properties, and his wife's at-home daycare business.

Persons: Eddie Nuñez, Eddie Locations: Lima, Peru, United States, Virginia, he's

Metal has been arriving almost daily in response to a sharp squeeze across the front part of the LME tin curve. LME and ShFE tin stocksLME SQUEEZE, BUT NO PHYSICAL TIGHTNESSThe tightness on the LME tin contract does not seem to have reflected any shortage of tin in the physical market. The LME squeeze appears to have been more a clash of positioning in what can at times be a relatively illiquid market. Fund positioning on the LME tin contractSUPPLY DISRUPTION LOOMSWhile tin supply has recovered from early-year disruption in Indonesia and Peru, a new threat is now looming. From the start of next month, all tin mining will be suspended in the Wa region of Myanmar.

Persons: It's, Jan Harvey Organizations: London Metal Exchange, Shanghai Futures Exchange, U.S, Fastmarkets, Fund, United Wa State Army, International Tin Association, Yinman, Yunnan Tin Company, Reuters, Thomson Locations: Myanmar, Malaysia's Port Klang, Singapore, Rotterdam, Antwerp, Italian, Genoa, Trieste, Spanish, Bilbao, Baltimore, U.S, Midwest, COVID, Indonesia, Peru, Wa, Guangxi, Mongolia, Yunnan, China

☆ At Peru temple site, archaeologists explore 3,000-year-old 'condor's passageway'
▼ + stars: | 2023-07-12 | by ( Carlos Valdez | ) www.reuters.com time to read: +2 min

ANCASH, Peru, July 12 (Reuters) - Archaeologists working in Peru have uncovered a 3,000-year-old sealed corridor dubbed "the condor's passageway" that likely leads to other chambers inside what was once a massive temple complex pertaining to the ancient Chavin culture. Located around 190 miles (306 km) northeast of Lima, the Chavin de Huantar archeological site is among the culture's most important centers, thriving from around 1,500-550 B.C. The temple complex features terraces as well as a network of passageways, which have only recently been discovered. Rick, a Stanford University archeologist, has said much of the temple complex remains to be excavated. The United Nations' educational, scientific and cultural arm UNESCO declared Chavin de Huantar a world heritage site in 1985.

Persons: John Rick, Rick, Chavin, Carlos Valdez, Marion Giraldo, David Alire Garcia, Rosalba O'Brien Organizations: Reuters, Stanford University, Rick's, United Nations, UNESCO, Thomson Locations: ANCASH, Peru, Lima, Peruvian

☆ Astranis to bring satellite internet to 2 million people in the Philippines next year
▼ + stars: | 2023-07-11 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

The satellite that will provide service to the Philippines is scheduled to launch in 2024. Astranis will own and operate the satellite, with services provider Orbits Corp. buying capacity through a long-term contract for a local Philippine internet service provider, HTechCorp. Its currently preparing to launch two more batches of satellites – which Astranis calls "Block 2" and "Block 3." But the company's approach marks a unique way of providing broadband service from space, Gedmark has previously said. Astranis will be able to "cover the entire Philippines with this one satellite," Gedmark noted.

Persons: John Gedmark, Gedmark, Astranis, SpaceX's Starlink Organizations: CNBC, Corp, Viasat, GEO Locations: San Francisco, Philippines, Alaska, Peru, Philippine, British

☆ Analysis: Peru copper miners say red tape snarling red metal production ramp-up
▼ + stars: | 2023-07-07 | by ( Marco Aquino | ) www.reuters.com time to read: +4 min

[1/5] Trucks from the Las Bambas mine circulate along the mining corridor between Sayhua and Ccapacmarca, near Ccapacmarca, Peru, January 19, 2022. REUTERS/Sebastian Castaneda/File PhotoLIMA, July 7 (Reuters) - Copper miners in Peru, already battling political uncertainty and regular protests, say they have another hurdle to revving up stalled production of the red metal: too much red tape. 2 copper producer, has seen output plateau in the last five years as political instability, revolving governments and flagging investment has let rival producer Congo almost overtake it. 1 producer Chile has also seen production slide, dented by political uncertainty around taxes and regulation. Until that happens, mining executives said Peru's $53 billion mining investment pipeline, largely copper, would only move forward slowly, despite government hopes that some $7 billion of that being unlocked in 2023 and 2024.

Persons: Sebastian Castaneda, LIMA, Raul Jacob, Jorge Soto, it's, Víctor Gobitz, Tia Maria, Marco Aquino, Adam Jourdan, Sandra Maler Organizations: REUTERS, Congo, Reuters, World Bank, BHP, Newmont Corp, Thomson Locations: Sayhua, Ccapacmarca, Peru, Lima, Chile, Canada, Mexico

☆ Telefonica sells controlling stake in Peruvian fibre optic network to KKR
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +1 min

MADRID, July 7 (Reuters) - Telefonica (TEF.MC) has sold a 54% stake in its fibre optic network in Peru to U.S. private equity fund KKR (KKR.N) and 10% to Entel's (ENTEL.SN) local business, the Spanish telecoms group said on Friday, adding that it will retain the remaining 36%. In many markets, the company has separated the infrastructure into different units to maximise the value of its disposed assets. The Spanish company did not disclose the value of the transaction but said the deal would cut its debt by 200 million euros ($217.8 million). The transaction valued 100% of the unit at about 550 million euros, including debt, according to a banking source close to the deal. The new company, Pangeaco, will combine the existing fibre optic network in Peru from Telefonica and Entel, KKR firm said in a separate statement.

Persons: Inti Landauro, Jacqueline Wong, David Goodman Organizations: Telefonica, KKR, Entel, Santander, Thomson Locations: MADRID, Peru, U.S, Spanish

TOKYO, July 7 (Reuters) - Ukraine has submitted a formal request to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to New Zealand, Japanese and New Zealand authorities said on Friday. New Zealand, which performs the legal depositary functions for the partnership, had received a formal accession request from Ukraine on May 5, a New Zealand foreign ministry spokesperson said. The CPTPP includes Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam, with Britain becoming the 12th member state. China, Taiwan, Ecuador, Costa Rica and Uruguay all also have requests pending to join. Japan's economy minister, Shigeyuki Goto, told a regular press conference that Japan, as a CPTPP member, "must carefully assess whether Ukraine fully meets the high level of the agreement" in terms of market access and rules.

Persons: Shigeyuki Goto, Kantaro Komiya, Jacqueline Wong, Robert Birsel Organizations: Trans, Pacific, ., Thomson Locations: TOKYO, Ukraine, New Zealand, Zealand, Auckland, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, Peru, Singapore, Vietnam, Britain, China, Taiwan, Ecuador, Costa Rica, Uruguay

☆ They Hold Weeds, and an Artist’s Sublime Vision
▼ + stars: | 2023-07-06 | by ( Roberta Smith | More About Roberta Smith | ) www.nytimes.com time to read: +1 min

The David Kordansky Gallery has mounted a wonderful wormhole of an exhibition, “Doyle Lane: Weed Pots.” Its point of access is the small unassuming “weed pot,” a frequent accent in modern California interiors starting in the late 1950s. From this seemingly modest beginning, Lane (1923-2002), who was African American, created a dazzling universe of color, shape, texture and proportion. He also made ceramic tile, pendant jewelry, paintings and murals, but the “weed pot" is his signature. Kordansky’s generous display of 100 pots is Lane’s first solo show in New York. Lane didn’t invent the “weed pot,” but as this exhibition proves, he perfected it.

Persons: David Kordansky, “ Doyle, Lane Organizations: African Locations: California, African American, New York, El Sereno, East Los Angeles, Peru, China

☆ Ash spewing volcano in Peru prompts state of emergency
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +1 min

LIMA, July 5 (Reuters) - Peru's government declared a 60-day state of emergency for several southern towns on Wednesday as the country's most active volcano spews ash and gas. Ash from the Ubinas volcano in the Moquegua region some 1,200 kilometers (746 miles) southeast of the capital Lima, has risen to altitudes of 5,500 meters and has reached towns over 10 km away, the Geophysical Institute of Peru said. Wednesday's emergency declaration allows the government to take "exceptional measures and actions" to counter risks from the Ubinas volcano. The southern region of copper-producing Peru is home to some of the country's most important mines as well as a dozen active volcanoes. Peru is located within the "Pacific Ring of Fire," an area with a high incidence of earthquakes and volcanic activity.

Persons: Dina Boluarte, Marco Aquino, Carolina Pulice, Brendan O'Boyle, Grant McCool Organizations: Geophysical Institute of, National Civil Defense Institute, Ministers, Twitter, Thomson Locations: LIMA, Moquegua, Lima, Geophysical Institute of Peru, Peru's, Peru

CNN —Peruvian novelist and Nobel laureate Mario Vargas Llosa has been hospitalized in Madrid with Covid-19, his son said Monday. “In light of the interest by the news media in our father’s health, we make public that he has been hospitalized since Saturday after being diagnosed with Covid-19,” Alvaro Vargas Llosa tweeted on behalf of himself and his siblings, Gonzalo and Morgana Vargas Llosa. Vargas Llosa lives in Madrid and holds Spanish as well as Peruvian citizenship. Born in Arequipa, Peru in 1936, Vargas Llosa was brought up by his mother until his father reappeared and brought an authoritarian change to his life. As well as the hostile environment at home, Vargas Llosa lived through Peru’s political turmoil, which saw the rise of dictator Manuel Odría in 1948.

Persons: Mario Vargas Llosa, ” Alvaro Vargas Llosa, Gonzalo, Morgana Vargas Llosa, Vargas Llosa, Manuel Odría, ” Organizations: CNN Locations: Peruvian, Madrid, Covid, Arequipa, Peru, Spanish

☆ Peru to declare emergency status as Ubinas volcano rumbles
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +1 min

LIMA, July 3 (Reuters) - Peru will declare emergency status in the area around the Ubinas volcano in the southern region of Moquegua, the prime minister said on Monday, as the country's most active volcano has been spewing ash for several days. Southern Peru, an area where there are important mining sites, is home to a dozen active volcanoes. Peru is also in the so-called Pacific "Ring of Fire," an area with a high incidence of earthquakes and volcanic activity. Prime Minister Alberto Otarola told reporters at the Government Palace that the emergency status will probably be declared in the next few days in order to provide "the necessary prevention measures" for the region. Peruvian authorities in 2019 evacuated hundreds of people living near the Ubinas volcano after explosions and ashes emissions.

Persons: Alberto Otarola, INDECI, Marco Aquino, Carolina Pulice, Grant McCool Organizations: National Institute of Civil Defense, Reuters Television, Thomson Locations: LIMA, Peru, Moquegua, Southern Peru

☆ Wimbledon on red alert for orange protest
▼ + stars: | 2023-07-03 | by ( Mitch Phillips | ) www.reuters.com time to read: +2 min

"Every year we work with the Metropolitan Police and other agencies to review our security arrangements in line with relevant threat picture and of course. Bolton said it was not all about the numbers of people involved. "Some of it is about the type of intelligence that we're using and the tactics that we're using," she said. Last week's England v Australia cricket test at Lord's was briefly held up by powder-spreading protesters, following similar incidents at the World Snooker Championship and English Premiership rugby final. Reporting Mitch Phillips, editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

Persons: Italy's Lorenzo Musetti, Peru's Juan Pablo Varillas, Andrew Couldridge, we've, Sally Bolton, Bolton, enjoyably, Mitch Phillips, Ed Osmond Organizations: Lawn Tennis, Croquet Club, Peru's Juan Pablo Varillas REUTERS, Wimbledon, All England Club, Metropolitan Police, Australia, English Premiership rugby, Thomson Locations: London, Britain, England, Lord's

☆ Investors can get a 7% yield with this 'hidden gem' bond fund
▼ + stars: | 2023-06-29 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Vanguard's Emerging Markets Bond fund (VEMBX) is a "hidden gem" and Vanguard's best foreign bond fund, according to Jeff DeMaso, founder and editor of the newsletter "The Independent Vanguard Adviser." "It's a well-run emerging markets bond fund that has topped its index (and the Morningstar peer group)," DeMaso said. The actively managed fund was up 43% from April 2016 through May 2023, compared with an 11% return for Vanguard's Emerging Markets Government Bond Index Fund (VGAVX) during the same time frame, according to DeMaso's calculations. The VGAVX seeks to track the performance of the Bloomberg USD Emerging Markets Government RIC Capped Index. Not only does VEMBX fly under the radar, but it has a stellar portfolio manager in Daniel Shaykevich, DeMaso said.

Persons: Jeff DeMaso, Morningstar, DeMaso, Daniel Shaykevich, Shaykevich Organizations: Vanguard's, Independent Vanguard, SEC, Morningstar, Vanguard's Emerging, Government, Index, Bloomberg, Markets Government RIC, Vanguard, BlackRock Locations: United States, Peru, Saudi Arabia, Columbia, Persian, Saharan Africa

☆ The mosquito era: As the world warms, these insects are thriving – and bringing disease
▼ + stars: | 2023-06-29 | by ( Laura Paddison | ) edition.cnn.com time to read: +9 min

James Gathany/CDC/Handout/ReutersWhile serious mosquito-borne diseases remain rare in the US, other countries are not so lucky. While scientists are yet to assess the role climate change has played in the outbreak, Carlson said the links seem clear. But the shift of mosquito-borne diseases into regions like the US and Europe is still likely to be a shock. Scientists are working to develop tools to be able to better assess the link between mosquito-borne diseases and climate change. The path the world takes on reducing planet-heating pollution will lead to very different futures for mosquito-borne diseases, Brady said.

Persons: it’s, Edgar Su, ”, Oliver Brady, –, James Gathany, Colin Carlson, Carlson, I’m, Ernesto Benavides, Celine Gossner, ” Brady, “, Shannon LaDeau, they’ve, ” LaDeau, Jon Cherry, Gossner, Brady Organizations: CNN, US Centers for Disease Control, London School of Hygiene, Medicine, Climate Central, Georgetown University, Getty, European Centre for Disease Prevention, Carey Institute of Ecosystems Studies, Louisville Metro Department of Health, Wellness Locations: United States, Singapore, zika, West, Saharan Africa, Peru, Piura, AFP, Europe, “, Western Europe, China, Texas , Florida, Hawaii, Arizona, India, Louisville , Kentucky, Florida

☆ Chile assumes pro tempore presidency of Pacific Alliance
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +1 min

[1/2] A general view shows the inauguration of the 14th Pacific Alliance Summit in Lima, Peru July 6, 2019. REUTERS/Guadalupe PardoMEXICO CITY, June 28 (Reuters) - Chile assumed the pro tempore presidency of the Pacific Alliance on Wednesday, according to a statement published by the group. The decision comes after Mexico refused to hand over the alliance's rotating presidency to Peru, amid an ongoing diplomatic spat between the Latin American nations. The Pacific Alliance trade bloc is composed of Chile, Colombia, Mexico and Peru. "We have always recognized Peru's right to exercise the pro tempore presidency... We have assumed the responsibility of acting as intermediaries to resolve this situation," Chile's Foreign Minister Alberto van Klaveren said in a press conference, adding his country will hold the presidency for a month.

Persons: Guadalupe Pardo, Andres Manuel Lopez Obrador, Dina Boluarte's, Pedro Castillo's, Alberto van Klaveren, Valentine Hilaire, Raul Cortes Fernandez, Natalia Ramos, Anthony Esposito, Steven Grattan Organizations: 14th Pacific Alliance Summit, REUTERS, Guadalupe Pardo MEXICO CITY, Pacific Alliance, Authorities, Thomson Locations: Lima , Peru, Guadalupe Pardo MEXICO, Chile, Mexico, Peru, Mexican, Colombia, American

☆ Chile assumes temporary presidency of Pacific Alliance after diplomatic spat
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +1 min

[1/2] A general view shows the inauguration of the 14th Pacific Alliance Summit in Lima, Peru July 6, 2019. REUTERS/Guadalupe PardoMEXICO CITY/SANTIAGO/LIMA, June 28 (Reuters) - Chile temporarily took over leadership of Latin America's Pacific Alliance on Wednesday after a spat that saw Mexico refuse to hand over the rotating presidency of the trade bloc to Peru. A meeting of the Pacific Alliance trade bloc - composed of Chile, Colombia, Mexico and Peru - set to be held in Lima in December was postponed. Peru will assume the presidency on Aug. 1, the Peruvian foreign ministry confirmed on Twitter. "Authorities reaffirmed their commitment to the Pacific Alliance as a mechanism for political discussion and economic and commercial integration... which seeks to advance progressively towards the free movement of goods, services, capital and people," the statement added.

Persons: Guadalupe Pardo, Andres Manuel Lopez Obrador, Dina Boluarte's, Pedro Castillo, Alberto van Klaveren, Valentine Hilaire, Raul Cortes Fernandez, Natalia Ramos, Marco Aquino, Anthony Esposito, Steven Grattan, Rosalba O'Brien Organizations: 14th Pacific Alliance Summit, REUTERS, Guadalupe Pardo MEXICO CITY, Pacific Alliance, Twitter, Authorities, Thomson Locations: Lima , Peru, Guadalupe Pardo MEXICO, SANTIAGO, LIMA, Chile, Mexico, Peru, Mexican, Colombia, Lima, Peruvian, Mexico City, Santiago

The drain in hard currency sparked panic earlier in the year, with Bolivians forming lines outside banks to withdraw dollars. Bond yields spiked sharply and in May the government was forced to sell half of its $2.6 billion gold reserves to raise cash. A major drought in Argentina has hammered grains output and reserves, imperiling a $44 billion debt deal with the International Monetary Fund. "The model is now shifting towards a very big state, a tax-and-spend approach," he said. "It has calmed people a bit... but that amount (gained from the gold reserves sale), $1.3 billion, is not enough for Bolivia," said local financial analyst Jaime Dunn.

Persons: Read, LA, Evo Morales, Jose Gabriel Espinoza, Marcelo Montenegro, Alberto Ramos, Goldman Sachs, spender, Jaime Dunn, Reuters Graphics Espinoza, Morales, Raúl Cortés Fernández, Daniel Ramos, Adam Jourdan, Rosalba O'Brien Organizations: Departmental Association of Coca Producers, LA PAZ, Reuters, International Monetary Fund, Bolivian, Graphics, Banco, Reuters Graphics, MAS, Thomson Locations: La Paz, Bolivia, Bolivian, America, Argentina, Peru, Brazil, Chile, Colombia

☆ Analysis: Latin America, after record tightening, could lead way on rate cuts
▼ + stars: | 2023-06-26 | by ( Marion Giraldo | ) www.reuters.com time to read: +5 min

The small South American country of Uruguay has already cut rates, by 25 basis points in April. Chile's central bank kept its key interest rate on hold at 11.25% last week, but said if recent positive trends continue, it could begin cutting the rate in the short term. Forecasts are pointing to a rate cut next month, said Cesar Guzman, macroeconomic analyst at Santiago-based Grupo Securities. Even there, however, the central bank opted to hold rates steady in June as monthly inflation slowed for the first time in half a year. "Colombia and Mexico will be the last ones to cut rates, possibly in the fourth quarter."

Persons: Joan Domene, Reuters Graphics Goldman Sachs, Alberto Ramos, Cesar Guzman, Luiz Inacio Lula da Silva, Kimberley Sperrfechter, Andres Pardo, Marion Giraldo, Natalia Ramos, Fabian Cambero, Nelson Bocanegra, Anthony Esposito, Jonathan Oatis Organizations: MEXICO CITY, U.S . Federal Reserve, European Central Bank, Bank of England, America, Oxford, Reuters Graphics, Grupo Securities, Reuters, Capital Economics, XP Investments, Thomson Locations: MEXICO, Chile, Brazil, Mexico, American, Uruguay, Santiago, COLOMBIA, America, Argentina, Colombia, Bogota

☆ United States to host expanded Club World Cup in 2025 - FIFA
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +2 min

June 23 (Reuters) - The first edition of FIFA's new 32-team Club World Cup will be held in the United States in 2025, world soccer's governing body said on Friday. FIFA had confirmed in March that the revamped Club World Cup will be played every four years from June 2025. The FIFA Council unanimously appointed the United States as the competition's hosts for the first edition of the expanded format. "The FIFA Club World Cup 2025 will be the pinnacle of elite professional men's club football," FIFA President Gianni Infantino said. The current version of the FIFA Club World Cup -- an annual competition with seven teams -- will be discontinued after 2023.

Persons: Gianni Infantino, Rohith Nair, Toby Davis, Christian Organizations: FIFA, America, FIFA Club, Real, League, Manchester City, FIFA Council, FIFA Congress, Thomson Locations: United States, Mexico, Canada, Chelsea, Real Madrid, Europe, Bangkok, Thailand, Indonesia, Argentina, Bali, Peru, Colombia, Dominican Republic, Bengaluru

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