OECD Promotes Panama to List of Financially Transparent Countries

WASHINGTON, July 22, 2011 /PRNewswire-USNewswire/ -- Following the signing of a double taxation agreement with France on July 6, the Republic of Panama was placed by the Organization for Economic Cooperation and Development (OECD) on its list of countries who have substantially implemented international standards for exchange of information, commonly known as the "White List."

Latin America swings to the left

LIMA, PERU -- The morning after Ollanta Humala won a photo-finish runoff for Peru’s presidency, rumors flew -- of a run on a grocery store in a high-end suburb, that the well-to-do would pull their money out of the country, that companies would pack up and take their investments elsewhere.

Even before official election results were announced, right-leaning media called for the left-leaning former army colonel to name his economy minister immediately, to calm fears.

Mexico inflation accelerates in early July

MEXICO CITY, July 22 (Reuters) - Mexico's annual inflation
rate accelerated more than expected in the first half of July
but not enough to change bets on the timing of interest rate
hikes next year.

Avoiding Brazil-Like Inflation Triggers Delay in Rate Bets: Mexico Credit

Traders are delaying forecasts for interest-rate increases in Mexico for the tenth time this year as slumping U.S. growth and declining food prices restrain inflation.

Yields on 28-day interbank rate futures due in April, known as TIIE, fell 16 basis points this week to 5.01 percent, indicating traders are betting the central bank will wait until that month to increase the key rate from a record low of 4.5 percent. In Brazil, traders are betting the central bank will raise its key rate by 25 basis points, or 0.25 percentage point, to 12.50 percent today, the fifth increase this year.

Role reversal: Latin America taunts U.S. on debt woes

(Reuters) - After three decades spent battling their own debt crises and getting constantly lectured about them by Uncle Sam, many Latin Americans are watching the countdown to a possible default in Washington with a mix of schadenfraude and fear of what a collapse might mean for them.

For everybody from presidents on down to street vendors, seeing U.S. politicians argue over where to make painful budget cuts has also been a reminder that those days are over in Latin America. For now, at least, as most of the region enjoys an era of economic prosperity and comparatively tiny deficits.

Mexico factory, industrial output jump in May

MEXICO CITY, July 12 (Reuters) - Mexico industrial
production in May rose more than expected, reversing three
months of declines, as an expansion in the factory sector gave
a boost to Latin America's second-largest economy.

Industrial production grew by 1.1 percent in May from April
MXIP=ECI, the national statistics agency said on Tuesday.
Analysts expected to see only a 0.3 percent month-on-month
expansion, while the year-over-year figure MXIPY=ECI grew by
4.6 percent compared to the forecast 3.4 percent

Brazil’s Gol Agrees to Buy Webjet to Gain Market Share

Gol Linhas Aereas Inteligentes SA, Brazil’s second-largest airline by market share, agreed to acquire Webjet Linhas Aereas SA for 96 million reais ($61 million), as it seeks to recover market share in Latin America’s biggest economy.

Sao Paulo-based Gol said in a regulatory filing today that the deal valued closely-held Webjet at 310.7 million reais, according to a regulatory filing. Webjet, a low-cost carrier based in Rio de Janeiro and controlled by Guilherme Paulus, is Brazil’s fourth-largest airline, with 5.2 percent of the country’s airline market.