By Nathan Gill and Sebastian Boyd April 16 (Bloomberg) — Chilean police used teargas and water cannons to break up demonstrations in Santiago as unions called a national strike to protest layoffs and demand higher taxes on the rich. About 12,000 people marched today in support of the strike, according to Radio Cooperativa. Chile job… Read More Chile Police Use Teargas to Break Up Strike Protests
By Nathan Gill April 2 (Bloomberg) — Chile’s inflation rate will fall to the central bank’s 3 percent target ‘soon” as prices for energy and food continue to decline, Finance Minister Andres Velasco said. Chile’s central bank raised its benchmark interest rate to a decade-high of 8.25 percent last year after inflation surged to… Read More Chilean Inflation to Slow to 3% ‘Soon,’ Finance Minister Velasco Says
By Nathan Gill March 31 (Bloomberg) — Chilean government spending will help create jobs, Finance Minister Andres Velasco said today after the unemployment rate rose to a two-year high last month. The government’s $4 billion economic stimulus package and “solid and credible” institutions will allow Chile to limit the damage from the global financial… Read More Chile Stimulus Plan to Spur Job Growth, Velasco Says
By James Attwood and Sebastian Boyd March 13 (Bloomberg) — Chile’s government-owned Banco del Estado de Chile today said it will cut interest rates to consumers, adding pressure on the country’s private banks to follow suit. Chile’s central bank last night slashed its benchmark interest rate by 2.5 percentage points, bringing cuts this year… Read More Chile State Bank Cuts Rates, Pressuring Private Banks
By Nathan Gill March 12 (Bloomberg) — Cia. Sudamericana de Vapores SA, Latin America’s largest container ship company, plunged as much as 13.9 percent and closed at a six-year low on speculation it will struggle to pay maturing debt. The share tumble, which followed an 8.7 percent slide yesterday, prompted the Santiago Stock Exchange… Read More Chile’s Vapores Sinks to 6-Year Low on Cash Concerns
By Nathan Gill and Sebastian Boyd March 11 (Bloomberg) — Chile will spend savings accumulated from record copper prices to fight unemployment and will emerge stronger from the global economic slowdown, President Michelle Bachelet said. The government’s $4 billion economic stimulus package offers long-term solutions rather than populism, she said today in a speech to… Read More Chile to Spend Savings in ‘Lean Times,’ Bachelet Says
By Sebastian Boyd and Nathan Gill March 5 (Bloomberg) — Chilean economic activity shrank by the most in almost a decade in January, fueling expectations that policy makers next week will cut interest rates for the third time this year. The economy contracted 1.4 percent in January from the same month a year earlier,… Read More Chile Economy Shrank 1.4% in January, Most in Decade
By Nathan Gill and Sebastian Boyd March 2 (Bloomberg) — Chile’s central bank will probably lower its benchmark lending rate for the third time in as many months at its next meeting on March 12, bank President Jose de Gregorio said today The bank “took very aggressive action in its monetary policy in its… Read More De Gregorio Says Chile Bank Will ‘Probably’ Cut Rates
By Nathan Gill Feb. 26 (Bloomberg) — Ecuadorean Oil and Mines Minister Derlis Palacios said Perenco SA has until March 3 to pay taxes or state-owned PetroEcuador will take steps to seize the French oil company’s assets. Ecuadorean President Rafael Correa said Feb. 14 that he had given the order to begin a lawsuit against… Read More Ecuador May Seize Perenco Assets Over Tax Dispute
By Nathan Gill Feb. 17 (Bloomberg) — Ecuador’s Economic Policy Minister, Diego Borja, defended the country’s use of the U.S. dollar and said President Rafael Correa wasn’t planning to abandon the system. “The president has been clear, we are going to defend dollarization,” Borja said today in an interview broadcast on Quito-based television station TeleAmazonas.… Read More Ecuador’s Borja Vows to ‘Defend’ Use of U.S. Dollar
By Nathan GillFeb. 14 (Bloomberg) — Ecuador’s President Rafael Correa said today that he has given the order to begin a lawsuit against Repsol YPF SA, Spain’s largest oil company, and Perenco SA, a French oil company, over their failure to pay taxes. Correa said during his weekly address to the nation that both companies… Read More Ecuador’s President Calls for Lawsuit Against Repsol, Perenco
By Nathan GillFeb. 14 (Bloomberg) — Ecuador will use a grace period to decide whether it will make a payment scheduled for tomorrow on its 2030 bonds, Finance Minister Maria Elsa Viteri said last night in a statement posted on the presidency’s Web site. Ecuadorean President Rafael Correa in December halted payment on foreign bonds… Read More Ecuador to Use Grace Period for 2030 Bond Payment
By Lester Pimentel and Nathan GillFeb. 13 (Bloomberg) — Ecuador is asking investors who own the country’s bonds maturing in 2012 and 2030 to identify themselves, according to a letter posted by the Emerging Markets Traders Association. Bondholders should contact adviser Lazard Freres, according to the letter signed by Finance Minister Maria Elsa Viteri. A… Read More Ecuador Asks Bondholders to Identify Themselves in a Letter
By Nathan Gill Feb. 12 (Bloomberg) — Ecuador’s Economic Policy Minister Diego Borja said the Inter-American Development Bank agreed to loan the country about $500 million to help finance a projected budget deficit. Borja said he and Finance Minister Maria Elsa Viteri met last week in Washington with IDB President Luis Alberto Moreno to request… Read More Ecuador Says IDB to Loan $500 Million for Budget Gap
By Nathan Gill and Lester Pimentel Feb. 12 (Bloomberg) — Ecuador may announce tomorrow whether it will make an interest payment on its bonds due Feb. 15, Finance Minister Maria Elsa Viteri said. Viteri, speaking at a press conference today in Quito, said the announcement may come tomorrow or Feb. 15. Ecuador has a $134… Read More Ecuador May Announce Bond Payment Decision Tomorrow
Citation Gauderman, Kimberly. Women’s Lives in Colonial Quito: Gender, Law, and Economy in Spanish America. University of Texas Press, 2009.
By Nathan Gill Jan. 30 (Bloomberg) — Chile’s unemployment rate was unchanged for a third straight month in December at 7.5 percent, the National Statistics Institute said. The rate reported today was higher than the 7.3 percent median estimate of 12 economists in a Bloomberg survey. President Michelle Bachelet today signed into… Read More Chile Unemployment Rate Unchanged at 7.5% in December (Update1)
By Nathan Gill Jan. 29 (Bloomberg) — Chile’s Finance Minister Andres Velasco said a contraction in world demand will affect exports and increase the costs of financing for projects in Chile. A drop in 2009 global growth means a “more somber outlook” for Chile, Velasco said today in Davos, Switzerland, according to a… Read More Chile’s Velasco Says Global Slump Will Hit Exports, Financing
By Nathan Gill Jan. 26 (Bloomberg) — Companies in Chile have delayed or canceled about a quarter of their planned investments, according to Chile’s Technological Development & Capital Goods Corp. About $17 billion of the $64 billion of planned investments in mining, real-estate, industrial, forestry and energy projects planned through 2012 were shelved… Read More Chile Projects Delayed, Canceled on Lack of Funding (Update1)
By Nathan Gill Jan. 23 (Bloomberg) — Chile’s Finance Minister Andres Velasco comments on the availability of credit. Velasco spoke to reporters today after a meeting with members of the Association of Banks and Financial Institutions. On banks: “Everyone should use every available tool to alleviate the effects of the international crisis on… Read More Chile’s Andres Velasco Urges Banks to Open Up Access to Credit
By Nathan Gill Jan. 22 (Bloomberg) — Guillermo Tagle, vice president of Chile’s Capital Markets Consultative Council and executive director of Santiago-based IM Trust Corredores de Bolsa, comments on the country’s Jan. 8 decision to sell $1 billion of local currency bonds. Tagle spoke to reporters today in Santiago after a meeting with the… Read More Chile’s Bond Sale Creates Reference Point for Risk, Tagle Says
By Nathan Gill and Jens Erik Gould Jan. 15 (Bloomberg) — Mexican Labor Minister Javier Lozano said his country’s economic stimulus plan can prevent a contraction in the job market this year. “I hope that with the measures that are being taken we do not have a drop in the net number of… Read More Mexico Stimulus Can Prevent 2009 Job Contraction, Labor Minister Lozano Says
By Nathan Gill Jan. 15 (Bloomberg) — Chile’s Finance Minister Andres Velasco comments on fiscal policy during times of financial crisis. Velasco spoke today at a conference in Santiago. On Chile’s fiscal policy: “Fiscal policy, depending on the circumstance, should be austere and contract demand levels, and in other circumstances it should be… Read More Chile Needs ‘Actively Expansive’ Fiscal Policy, Velasco Says
By Nathan Gill Dec. 18 (Bloomberg) — Chile’s Finance Minister Andres Velasco comments on the potential economic consequences in Chile of Ecuador’s decision to default on $3.9 billion of international debt. Velasco spoke today in an interview in Santiago. On the affects of Ecuador’s decision to default on Chile’s economy: “None. What Chile… Read More Velasco Expects Little Fallout From Ecuador Default in Chile
By Nathan Gill Dec. 11 (Bloomberg) — Ecuador’s Vice President Lenin Moreno comments on the country’s debt. Moreno spoke to reporters today in Santiago. On whether Ecuador will pay its foreign debt: “This is the president’s decision, frankly. I don’t know. There are many factors to consider. We have decided that it is… Read More Ecuador Vice President ‘Does Not Know’ If Country Will Pay Debt
By Nathan Gill Dec. 4 (Bloomberg) — Chile’s Finance Minister Andres Velasco comments on the fall in consumer prices in November. Velasco spoke to reporters today at a conference in Santiago: On consumer prices falling 0.1 percent in November from October: “It’s a welcome event that confirms the estimates both of the government… Read More Chile’s Price Decline in November ‘Welcome Event,’ Velasco Says
By Nathan Gill Dec. 2 (Bloomberg) — Chile’s central bank sold $160 million in dollar swaps to banks, part of a six-month, $5 billion program. Banks were awarded the swaps at an average rate of 1.06 percentage points above Libor, the London interbank offered rate, the central bank wrote on its Web site.… Read More Chile Central Bank Sells $160 Million in Dollar Swaps to Banks
Citation Jamieson, Ross W. “The Market for Meat in Colonial Cuenca: A Seventeenth-Century Urban Faunal Assemblage from the Southern Highlands of Ecuador.” Historical Archaeology 42, no. 4 (December 2008): 21–37.
By Nathan Gill Dec. 1 (Bloomberg) — A Chilean financial committee that advises Finance Minister Andres Velasco recommended the government revise investment policies for its sovereign wealth fund. Chile’s government should postpone implementation of policies that would use 15 percent of accumulated reserves to purchase stocks and 20 percent to buy corporate bonds… Read More Chile Advisers Recommend Change in Sovereign Fund Investments
By Nathan Gill Dec. 1 (Bloomberg) — Chile’s Finance Minister Andres Velasco comments on Chile’s budget surplus. Velasco spoke to reporters in Santiago today. On the October budget deficit: “This is not unusual. Fiscal income fluctuates month to month, expenses fluctuate month to month and nobody in their right mind should worry about… Read More Chile Will Meet 2008 Annual Budget Surplus Goal, Velasco Says
By Nathan Gill Nov. 28 (Bloomberg) — Chilean industrial production unexpectedly fell and industrial sales had their second-biggest decline of the year in October as the global financial crisis slowed economic growth. Output dropped 0.8 percent last month from October 2007, the National Statistics Institute said today, compared with a revised 3.6 percent… Read More Chilean Industrial Output Fell 0.8 Percent in October (Update2)
By Nathan Gill Nov. 28 (Bloomberg) — Peru’s economy expanded more than economists expected in the third quarter, led by construction and investment in heavy machinery and equipment. Gross domestic product, the broadest measure of a country’s output in goods and services, grew 9.5 percent in the third quarter from the same period… Read More Peru’s Economy Expanded 9.5 Percent in Third Quarter (Update1)
By Nathan Gill Nov. 27 (Bloomberg) — Chile’s President Michelle Bachelet said that the country’s economy is prepared to face the global financial crisis and will grow within the expected range in 2009. The government’s top priority in the next 15 months will be to control the fallout from the global financial crisis,… Read More Chile’s Top Goal Is to Control Financial Crisis, President Bachelet Says
