15 August 2014
A round-up of recent public finance stories from Latin America and the Caribbean you might have missed.
Brazilian government anticipates 6% hike in fuel prices after October election
Brazilian president Dilma Rousseff admitted the government could increase domestic fuel prices at refineries by up to 6% after the October presidential election. The increase of 5.5% and 6% is a preliminary calculation and is geared to help prop the finances of the government managed oil and gas giant Petrobras. (Merco Press)
Obama says yes to Africa but no to Latin America?
OPINION: The first US-Africa Leaders Summit was organised by the Obama administration in a desperate effort to catch up with China. In recent years, China has become Africa’s top business partner. If Washington continues to pay little attention to Latin America, the same will happen there. Not only China, but also Russia and Japan have announced big plans to expand their presence in the region. (Dallas News)
Venezuela to spend $1.2bn on slum clearance
The Venezuelan government has announced that it is to invest $1.2bn in schemes to renovate the country’s underprivileged rural and urban communities. (Globalconreview.com)
Mexico will have first ‘bullet train' in Latin America
The high-speed Mexico City-Querétaro train, which will cover the 130-mile route at a speed of 186 mph, will be the first of its kind in Latin America, the Communications and Transportation Secretariat said. (The Yucatan Times)
Jamaica: more pensioners feeling the heat
FEATURE: Quite often, TV commercials are shown telling people to plan for their retirement and open pension funds. But many ignore them, thinking that their contribution to the National Insurance Scheme (NIS) is enough for them to survive in their latter years. (Jamaica Observer)
