Ecuador Gains $5.3 Billion Credit Line From China as Oil Tumbles

By Nathan Gill (Bloomberg) — The Export-Import Bank of China granted Ecuador a $5.3 billion credit line after a slide in oil to an almost six-year low prompted spending cuts for the OPEC member. Finance Minister Fausto Herrera said in a statement published today in the president’s official gazette that the Andean nation will use… Read More Ecuador Gains $5.3 Billion Credit Line From China as Oil Tumbles

White-Bellied Spider Monkey Losing to $18 Billion of Oil

(Originally published in Bloomberg News) By Nathan Gill      (Bloomberg) — Not even the endangered white-bellied spider monkey can escape the lingering consequences of Ecuador President Rafael Correa’s decision to default on $3.2 billion of debt four years ago.      Correa, who hasn’t borrowed from the bond market since calling Ecuador’s creditors “true… Read More White-Bellied Spider Monkey Losing to $18 Billion of Oil

Bachelet Says Chile Supports Recapitalization of IDB

By Sebastian Boyd and Nathan Gill      July 3 (Bloomberg) — Chilean President Michelle Bachelet said her government supports the recapitalization of the Inter-American Development Bank to help developing countries cope with declining capital flows.      Bachelet, speaking today to finance ministers from North and South America, urged member governments to help raise additional funding… Read More Bachelet Says Chile Supports Recapitalization of IDB

Honduran Protesters, Soldiers Clash Outside Palace After Coup

By Andres R. Martinez and Nathan Gill      June 29 (Bloomberg) — Hundreds of protesters clashed with riot police and soldiers outside Honduras’ presidential palace a day after the military arrested President Manuel Zelaya at gunpoint and put him on a plane out of the country.      Regional leaders, from market-friendly Mexican President Felipe Calderon… Read More Honduran Protesters, Soldiers Clash Outside Palace After Coup

Latin America Leaders Call Summit to Restore Zelaya (Update 4)

By Nathan Gill and Joshua Goodman      June 29 (Bloomberg) — Latin American leaders are gathering in an emergency summit to restore Honduran President Manuel Zelaya to office after his ouster by the military yesterday in a showdown over a referendum on term limits.      Regional leaders, from market-friendly Mexican President Felipe Calderon to self-declared… Read More Latin America Leaders Call Summit to Restore Zelaya (Update 4)

Latin America Calls Summit to Try to Restore Zelaya in Honduras

By Nathan Gill and Eric Sabo      June 29 (Bloomberg) — Honduran President Manuel Zelaya, ousted by the military, meets with Venezuelan President Hugo Chavez and regional leaders today in a show of support designed to restore him as head of the Central American country.      Zelaya said soldiers surrounded his house and forced him… Read More Latin America Calls Summit to Try to Restore Zelaya in Honduras

Chavez Says Honduras Coup Will Fail, Vows Assistance

By Nathan Gill and Andres R. Martinez      June 28 (Bloomberg) — Venezuelan President Hugo Chavez said a military coup in Honduras is “destined to fail” and that his nation’s armed forces are ready to help return President Manuel Zelaya to power.      Chavez, joined by Zelaya and the presidents of Ecuador, Nicaragua and Cuban… Read More Chavez Says Honduras Coup Will Fail, Vows Assistance

Honduran President Manuel Zelaya Is Ousted in Coup by Military

By Nathan Gill and Jose Orozco      June 28 (Bloomberg) — Honduran President Manuel Zelaya was ousted by the military today after his opponents accused him of ignoring court rulings and seeking to change the constitution through a referendum to hold onto power.      Zelaya, an ally of Venezuelan President Hugo Chavez, was seized by… Read More Honduran President Manuel Zelaya Is Ousted in Coup by Military

Chile’s Lan Seeks Airline Partner, Traffic Expansion

By Nathan Gill and James Attwood May 7 (Bloomberg) — Lan Airlines SA, Chile’s biggest air carrier, is interested in forming an alliance with a partner “north of Ecuador,” Chief Executive Officer Enrique Cueto said. Lan hasn’t reached any agreements and is looking for new markets to expand its cargo and passenger business, Cueto told… Read More Chile’s Lan Seeks Airline Partner, Traffic Expansion

Peru Restarts War of the Pacific with UN Lawsuit against Chile

March 21, 2009 (Southern Affairs) — Peru, home of the ancient Incan Empire, is trying to win back by reason what it lost by force. On March 19, Peru asked the United Nations to settle a century-old dispute with its southern neighbor Chile over some of South America’s richest fishing grounds. Jose Garcia Belaunde, Peru’s… Read More Peru Restarts War of the Pacific with UN Lawsuit against Chile

Peru Seeks UN Ruling on Chile Maritime Dispute, Garcia Says

By Nathan Gill March 19 (Bloomberg) — Peru presented the United Nations International Court of Justice in The Hague today with its claim to some of the world’s richest fishing grounds now held by Chile, Peruvian Foreign Minister Jose Garcia Belaunde said.      Garcia Belaunde said he’s confident the court will agree to hear the… Read More Peru Seeks UN Ruling on Chile Maritime Dispute, Garcia Says

Unasur Defense Ministers Play Down Regional Conflicts at South American Summit

March 10 (Southern Affairs) — Unasur’s defense ministers met again in Santiago today to kick off the South American Defense Council. Amid handshakes and congratulations, the ministers emphasized the historic nature of the meeting which they say will help ensure peace and democracy throughout the continent. What the ministers did not discuss publicly was how… Read More Unasur Defense Ministers Play Down Regional Conflicts at South American Summit

Correa Says Ecuador Willing to Renew Relations With Colombia

By Nathan GillFeb. 27 (Bloomberg) — Ecuador may renew diplomatic relations with Colombia if certain conditions are met, President Rafael Correa said today in a statement posted on the presidential Web site. Correa asked Colombia to reveal all the details of an air raid last year in Ecuadorean territory, repay Ecuador for unspecified damages, support… Read More Correa Says Ecuador Willing to Renew Relations With Colombia

Ecuador May Seize Perenco Assets Over Tax Dispute

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

Ecuador’s Borja Vows to ‘Defend’ Use of U.S. Dollar

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

Ecuador’s President Calls for Lawsuit Against Repsol, Perenco

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

Ecuador to Use Grace Period for 2030 Bond Payment

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

Ecuador Asks Bondholders to Identify Themselves in a Letter

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

Ecuador Petroamazonas Wants $820 Million for Amazon Oil Fields

By Nathan Gill Feb. 13 (Bloomberg) — Ecuador’s President Rafael Correa met yesterday with representatives of state-owned oil company Petroamazonas SA to discuss the $820 million needed to finance four new oil fields in the nation’s Amazon rain-forest region. Petroamazonas is seeking joint ventures with companies including Schlumberger Ltd., the world’s largest oilfield-services provider, to… Read More Ecuador Petroamazonas Wants $820 Million for Amazon Oil Fields

Ecuador Says IDB to Loan $500 Million for Budget Gap

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

Ecuador May Announce Bond Payment Decision Tomorrow

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

Velasco Expects Little Fallout From Ecuador Default in Chile

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

Ecuador Vice President ‘Does Not Know’ If Country Will Pay Debt

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

Democracy Strikes Again: The End Of 21st-Century Socialism?

By Nate GillJune 25, 2008 (Southern Affairs) — The resignation of the President of Ecuador’s Constitutional Assembly Alberto Acosta on June 23 is the latest in a series of setbacks for Latin America’s 21st century socialists. With political conditions deteriorating in Venezuela, Bolivia, and Ecuador, it makes sense to ask – what happened to Latin… Read More Democracy Strikes Again: The End Of 21st-Century Socialism?

Ecuadorian Foreign Policy: Traditions

What are the relevant historic issues in Ecuador’s foreign policy? Ecuador’s diplomatic history has focused strategically on the preservation of sovereign territory and resources; politically on the amplification of its national prestige and influence through multilateral institutions and economically on the promotion of national trade through close relationships with the United States, the Andean Community,… Read More Ecuadorian Foreign Policy: Traditions

Ecuadorian Foreign Policy: Actors and Institutions

Who are the relevant actors in the creation of Ecuador’s national foreign policy and what structures do they operate within?  As mentioned, the current foreign policy organization is based on the institutional structure established in the 1998 Constitution. According to Article 2, “The Head of State, as Supreme Representative of the country and its sovereign… Read More Ecuadorian Foreign Policy: Actors and Institutions

South American Regional Integration Institutions: Unasur, ALADI, CAN and Mercosur

There are four regional integration institutions in South America; CAN, MERCOSUR, ALADI, and UNASUR. The first two are subregional blocks representing nine of the 12 South American member countries of Unasur; neither is fully functional. [1] All the nations of South America, except for Guyana and Surinam, are members of ALADI. Its goals are similar… Read More South American Regional Integration Institutions: Unasur, ALADI, CAN and Mercosur

Chilean Foreign Policy: 2008

What is Chile’s current foreign policy? Chile’s current foreign policy strongly resembles the foreign policy of the Portales period, emphasizing political neutrality, non-intervention, sovereign equality, regional stability, and commercial expansion. The types of problems it faces are also similar to that era, but not specific to it, insofar as it has yet to resolve territorial… Read More Chilean Foreign Policy: 2008

Chilean Foreign Policy: Traditions

What are the relevant historic issues in Chile’s foreign policy? Since the early 1830s, Chile has developed a reputation for its pragmatic foreign policy, traditionally letting national interests take precedent over ideology. Starting from at least as early as the Prieto administration there was an explicit understanding of the challenges of Chile’s situation, isolated from… Read More Chilean Foreign Policy: Traditions

Brazilian Foreign Policy: Traditions

What are the historic conditions of Brazil’s foreign policy? Like Argentina, we will divide the historic conditions of Brazil’s foreign policy into three groups; strategic, political and economic. Strategically, Brazil (and Portugal during colonial times) has sought to expand its influence in South America and the South Atlantic. At times this involved aggressive policies with… Read More Brazilian Foreign Policy: Traditions