Ever seen “Weekend at Bernie’s”? Go check it out. Meanwhile now that Chavez’ death is a formality how do you play Venezuelan markets, and what has truly changed?
My 2012 estimate for economic growth in Turkey was 4% in January with an inflation rate stubbornly high at 8% for the year. After two years of above-8% economic growth, I went short-term neutral and long-term bullish on the country in January.
The Central Bank of Peru announced last week that it will probably raise the limit on pension fund investments in foreign securities by the end of the year. Funds have approached the current limit of 30% on roughly $35 billion in assets as strong economic growth and regional integration increased assets.
Cesar Vallejo, co-director of the Central Bank of Colombia, said this week that the country’s monetary authorities are open to further market intervention to help stem this year’s 7.7% appreciation in the Colombian peso.
Friday’s best web looks at Sino-Indian relations, India’s power woes indicative of poor governance, the difficulty state-owned enterprises face when investing in North American resources, tourism in South Africa, and an assessment of the Colombian economy.
The Colombian Central Bank surprised investors last week with a cut in rates to 5.0%, its first since 2010. The Colombian economy had been one of the few in the region to continue a restrictive policy in the face of the global economic slowdown.
Emerging markets rebounded sharply on Friday after the European leaders’ summit delivered more than investors expected.
Last year outperforming Latin American markets were closely tied to the Chinese growth phenomenon and accordingly more resilient to European debt problems.