Latin America

Ecuador imposes ‘gag order’ on radio and TV stations

"Correa’s party Alianza Pais ruling party, which holds an absolute majority of 100 out of 137 seats in Congress, was easily able to pass the bill despite criticism that it will tighten the state’s control over the media. The law redistributes broadcast media frequencies and licenses, allotting 34 percent to community media and 33 percent to the public sector. The private sector, which currently controls 85.5 percent of radio frequencies and 71 percent of television frequencies, will be confined to the remaining 33 percent. Correa, a populist in the mold of the late Hugo Chavez of Venezuela, has long clashed with private media." Continue reading →

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South American states to recall ambassadors from Europe over Bolivian plane incident

"South American countries belonging to the Mercosur trade bloc have decided to withdraw their ambassadors for consultations from European countries involved in the grounding of the Bolivian president’s plane. 'We've taken a number of actions in order to compel public explanations and apologies from the European nations that assaulted our brother Evo Morales,' explained Venezuela's President Nicolas Maduro, who revealed some of the agenda debated during the 45th summit of Mercosur countries in Uruguay's capital, Montevideo." Continue reading →

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Bitcoin a Refuge For Argentines Tired of Government’s Currency Despotism

"Bitcoin's popularity in the U.S. is gradually rising as it branches out from tech-savvy and libertarian circles into the mainstream financial world. But who may benefit most from the technology are residents in countries like Argentina, where independent observers estimate inflation at 25 percent and the government imposes strict capital controls. The price of Bitcoins in Buenos Aires are about 30 to 40 percent higher than those in neighboring Uruguay, and last week, a Bitcoin Meetup brought 150 Argentines to the nation's capital to discuss the advance of the technology in the country." Continue reading →

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Latin America demands answers from U.S. on spying

"Governments voiced a mix of outrage and concern after the Brazilian daily O Globo, citing documents leaked by fugitive former US intelligence contractor Edward Snowden, said several nations were targets of US electronic surveillance. The snooping included lifting data on leftist Venezuela’s oil and military purchases and Mexico’s drug war and energy sector as well as mapping the movements of a Marxist guerrilla group in Colombia, the newspaper said. The Mexican daily Excelsior reported Wednesday that Pena Nieto’s predecessor had allowed the United States to install a system to intercept phone calls and Internet chatter." Continue reading →

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Venezuelan minister: Facebook users unwittingly work as CIA informants

"A government minister in Venezuela, which has offered fugitive US intelligence leaker Edward Snowden asylum, is urging her countrymen to cancel their Facebook accounts lest they be targeted by US snooping. 'Fellow Venezuelans: cancel your Facebook accounts, since you unwittingly have worked as CIA informants! Look at the Snowden case!' prisons minister Maria Iris Varela said in a Twitter posting. Varela also said victims of 'gringo espionage' should file lawsuits to demand 'fair compensation' and bankrupt the US government." Continue reading →

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9 foreign countries where you can use U.S. dollars

"There are many great pleasures of the globe-trotting life, but dealing with pesky Travelex lines is not one of them. Sick of exchange rates, transaction fees, and coming home with pockets filled with useless coins? Here are foreign destinations where you can pay with U.S. dollars, from the sunny and subtropical to the still-undiscovered." Continue reading →

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Internationalizing in Chile

"In Chile, there are incredible opportunities for those in the know. Opportunities for a guy like me, and maybe for you if you're really serious about planting a flag in a South American country where things actually work – and work quite well. I've been living in Chile for about 6 months of the last two years, fulfilling my residency requirements. So, while I'm not an expert in all things Chile, my intent is to share some up-front impressions and on-the-ground experiences in the hope that this information will be helpful should you decide to plant one of your flags in what I believe is a wonderful country. So, with that in mind, let's get started." Continue reading →

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Gold Beats Cocaine as Colombia Rebel Money Maker

"Colombian armed groups are reaping profits from illegal gold mining that are five times greater than returns from cocaine, according to Colonel Hector Paez, acting director of the country’s rural police division. Cocaine typically takes six months to produce and requires considerable knowledge, while an illegal mining operation in the Colombian jungle can extract two kilograms of gold a week, Paez said in a June 19 interview in Bogota. Gold, which slumped below $1,300 an ounce for the first time since September 2010 in New York yesterday, has become Colombia’s biggest export after oil and coal." Continue reading →

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Glenn Greenwald: Edward Snowden likely to accept Venezuela asylum

"Greenwald told Reuters after speaking with Snowden on Tuesday that of the three countries that have offered Snowden asylum, Venezuela is better positioned 'to get him safely from Moscow to Latin America and to protect him once he’s there,' Greenwald said. 'They’re a bigger country, a stronger country and a richer country with more leverage in international affairs.' In addition to Venezuela, Nicaragua and Bolivia have indicated they would offer Snowden asylum. Cuba’s president said he supported Snowden and countries’ offers of asylum, but did not put forth an offer from Cuba." Continue reading →

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Bitcoins Soar In Value In Argentina Due To Capital Control Laws

"With the Peso undergoing yet another period of severe inflation at a rate of 20%, and now President Kirchner’s attempt to lure citizens back into the banking system over which they have absolutely no trust, by attempting to repatriate the US dollars held overseas or in hidden accounts by citizens in exchange for the domestic Cedin, the demand for Bitcoins has rocketed. Compared to Argentina’s much more freedom-orientated neighbor Uruguay, values of Bitcoins in Buenos Aires are between 30% and 40% higher than just 75 kilometers away in Colonia del Sacramento, Uruguay according to Argentinian Bitcoin expert Mauro Betschart." Continue reading →

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