Strengthening the Lending Capacity of the Multilateral Development Banks – by Dr. Augusto López-Claros
To read Dr. Augusto López-Claros blogspot, please click on the following LINK
Online Event on Investment in Brazilian Infrastructure (by Itamaraty and APEX), July 28, 2020
Online Event on Investment in Brazilian Infrastructure by the Ministry of Foreign Relations of Brazil and the Brazilian Foreign Investment Promotion Agency APEX (in Portuguese with translation into English)
For more information, please click on the following LINK
Interview by Forbes Bolivia with Dr. Augusto López-Claros
Dr Augusto López-Claros speaks about the new world order in the face of the COVID-19 pandemic and its economic and social consequences.
To watch and listen to the interview in Spanish, which was posted on Facebook, please click on this LINK
Video Meeting LATCAM – Swiss Argentine Chamber of Commerce
Every cloud has a silver lining – or – No hay mal que por bien no venga!
Extraordinary, corona-induced circumstances prompted us to put together the first bilateral video meeting between two Chambers of Commerce.
Board Members of the The Latin American Chamber of Commerce in Switzerland met with Board Members of the Swiss-Argentine Chamber of Commerce in a bilingual (E/S) videoconference aiming at discussing how both countries cope with the new reality surrounding COVID-19. The video meeting was also attended by H.E. Heinrich Schellenberg, Ambassador of Switzerland to Argentina, with a special address to participants. The Presidents of both our Chambers, Ernesto Kohen (Grupo Chronex) and Ramon Esteve (ECOM Agroindustrial Ltd.), emphasized the importance and value of a strong and productive bilateral cooperation going forward. The main focus of the meeting was on assessing the current situation both in Argentina and Switzerland with the serious economic fall-out due to the COVID-19 pandemic and the uncertainty with regard to the future.
Participants from Argentina included Rodolfo Dietl (Leonhardt & Dietl Abogados), Fabián von Brocke and Alfredo Rodríguez (Just Int’l Latin America), Eduardo Maclean (Rolex Argentina), Fernando Bekes (Firmenich Argentina), Héctor Pourtale and Gian Andri Bivetti (Roche Argentina), Leandro Bel (Nestlé Argentina), Alberto Lisdero (Estudio Lisdero Abogados), Jorge Fassbind (Secretario CCSA) and Cecilia Dibárbora (Manager CCSA). Participants from Switzerland included Linda Walker von Graffenried (Walker von Graffenried Asset Management), Manfred A. Ebling (Zurich Insurance), Sarah Höhener (Bank Julius Baer), Matthias Musch (UBS), Dr. Philippe G. Nell (Honorary Ambassador of LATCAM), Tatjana Gaspar (Managing Director of LATCAM) as well as Martina Bietenhader (Switzerland Global Enterprise).
To read the remarks made by Dr. Philippe Nell, Honorary Ambassador of LATCAM, on how Switzerland has so far been coping with the consequences of COVID-19, please click on the following LINK
Obituary – Dr. Christoph Etter, former President of LATCAM
The Latin American Chamber of Commerce in Switzerland mourns the loss of its former President
Dr. Christoph Etter
During his longstanding presidency, Christoph Etter shaped the Chamber of Commerce through his great commitment, his exemplary leadership role, his excellent knowledge of Latin America and his tireless networking. After resigning as President, he remained on the Board of Directors for many years as Honorary President and headed the Legal Chapter of the Chamber of Commerce.
We are very grateful to Christoph Etter for his invaluable contribution and will always remember him with highest esteem.
We extend our deepest condolences to his family and relatives.
Board of Directors and Management of LATCAM
New Treasurer for LATCAM
The Latin American Chamber of Commerce in Switzerland (LATCAM) is delighted to announce the appointment of Manfred A. Ebling as Treasurer.
Manfred was elected to the Board of LATCAM in 2019 representing our member Zurich Insurance Company. Since his election, he has regularly contributed valuable advice to the Board and the Managing Director. We wish Manfred success and satisfaction with his new task.
We would also like to acknowledge and thank our Board member Ernst von Mecklenburg for his services as Treasurer over the past year. Needless to say, Ernst has been practically a life time member. He has been over 25 years a member and at least 20 years he served as Treasurer. He has been a dedicated and tremendously committed member and we would like to thank him for his many years of dedication.
Ramon M. Esteve
President
The IDB Group in response to COVID-19 (coronavirus)
The IDB (Inter-American Development Bank) publishes daily updates on the coronavirus situation in Latin America and the Caribbean.
Switzerland – Latin America Economic Relations Report 2020 by SECO
The «Switzerland – Latin America Economic Relations Report 2020» analyses the current economic situation in Latin America as well as the region’s economic relations with Switzerland with a special focus on trade and investment. It also outlines the institutional framework of Swiss-Latin American economic relations, recent official visits and presents the SECO engagement regarding the green economy.
2019 was a challenging year for Latin America with only minor economic growth, although very differently distributed among the countries with several out-performers. Swiss exports of goods to the region decreased by 3.4 percent, while imports grew by 5.2 percent, driven by gold.
During 2019, Switzerland and Latin America witnessed further progress in their economic relations. Several fruitful bilateral economic meetings took place and the negotiations between EFTA and Mercosur for a free trade agreement were concluded in substance. We hope that the document can be signed in the course of 2020.
Each year, the report features a special thematic chapter. This year’s special chapter illuminates the consequences of climate change for Latin America and the Caribbean and provides insights into efforts in the region towards a green economy. It is shown that investments into renewables and Cleantech can simultaneously promote growth and protect the environment.
To read the Report, please klick on the Link.
Latin America featured in the official program of the World Economic Forum’s Annual Meeting in Davos 2020
Strategic Outlook: Latin America (Tuesday January 21, 2020)
Latin America’s governments have faced a number of domestic pressures in recent years, including humanitarian, political and geo-economic, which have led to an economic slowdown in the region.
A bumper set of panellists debated how leaders in Latin American countries can establish cohesion across the region and build a sustainable, prosperous and secure future.
The panellists were Alicia Bárcena Ibarra, Executive Secretary for the United Nations Economic Commission for Latin America and the Caribbean (ECLAC), Paulo Guedes, Minister of Economy, Brazil, Angel Gurría, Secretary General, OECD, Lenin Moreno Garcés, President of Equador, Guillermo Nielson, Special Envoy of the Government of Argentina and, Graciela Márquez Colín, Minister of Economy, Mexico.
In 2019, eight Latin American countries changed leadership against a background of economic challenges and issues with inequality. The region achieved just 0.1% growth with 1.6% predicted in 2020 by the IMF.
The panel is united in agreeing that the region faces significant challenges – some common across borders and others country-specific. Neilson explained that Argentina is focused on two key areas this year: debt restructuring and launching a programme to promote growth.
He summed up the situation in simple terms: “In order to foot the bill [of our debt] we need to grow.”
Guedes answered the challenge from Ibarra that Brazil has not been growing enough by saying: “For many decades Brazil was the fastest growing economy – above China. Somehow we lost our way.”
Part of the reason, Guedes explained, is that Brazil has been spending above its means with inflation running wild. After 40 years of mismanagement, he believes that his government has started to tackle some of the overspending – areas such as social security and debt interest – and they are seeing a slow and steady recovery.
In Mexico, the country has the world’s lowest minimum wage. Márquez Colín said that her country is committed to improvement with tight controls on inflation and paying back public debt, suggesting that the “macro stability looks fine”.
She argued that the minimum wage has increased in each of the last two years and there is a commitment to offer better paid jobs in the future. They are also looking to tackle inequality, particularly in the south of the country, through large infrastructure projects.
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One Trillion Trees – a global initiative is launched (Wednesday, January 22, 2020)
The World Economic Forum launches a global initiative to grow, restore and conserve 1 trillion trees around the world – in a bid to restore biodiversity and help fight climate change.
President Ivan Duque of Colombia, one of the panelists in the press conference, said: “The big challenge of our time is climate change and we will not be successful on climate change if we don’t defeat deforestation.” Colombia aims to plant 180 million trees by August 2022, he said.
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Securing a Sustainable Future for the Amazon (Wednesday, January 22, 2020)
The number of fires in the Amazon rainforest grew in 2019 were up 30.5% from the previous year, and raised global awareness of the importance of the region for the world’s biodiversity and the climate. What is the best path for the people and the Amazon and their environment?
Ivan Duque, President of Colombia, will discuss the future with Brazilian scientist Carlos Afonso Nobre, former US Vice-President Al Gore and naturalist Jane Goodall. The moderator is BBC broadcaster Mishal Husain.
Read: How green investment will help Latin America and the world fight climate change
Tipping points
ICYMI: earlier today: One trillion trees – World Economic Forum launches plan to help nature and the climate
Carlos Afonso Nobre said that in the southern Amazon, deforestation was happening at such a rate that it could hit a ‘tipping point’ where the forest could not sustain itself.
“If this tipping point is exceeded, 50-60 percent of the Amazon forest will turn into dry savanna.”
Ivan Duque has a big stake in the future of the Amazon : 35% of his country, Colombia, is in it. His government aims to plant 180 million trees by 2022.
“It’s not widely understood that the soils in most of the Amazon are very thin – the richness is in the canopy,” said Al Gore.
“So when poor people clear the land and think they will have crops year after year it’s a false hope and not a sustainable answer to poverty.”
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Special Address by Juan Guaidó on Venezuela (Thursday, January 23, 2020)
Juan Guaidó gives a special addresss to Davos 2020, at a decisive time in Venezuela’s history.
Guaidó is the President of the National Assembly of Venezuela and recognized by more than 50 countries as Interim President of Venezuela.
What are the next steps for the country?
Reuters sums up his position: “Last January, Guaidó invoked the constitution as head of congress and declared Maduro an usurper. But a year on Maduro remains in power, despite a U.S. campaign to cut off his government’s sources of financing by imposing sanctions on Venezuela’s oil sector, and Guaidó’s attempts to encourage the military to rebel.”
Guaidó defied a travel ban to leave Venezuela on Sunday and has since met with US Secretary of State Mike Pompeo, British Prime Minister Boris Johnson and addressed the European Parliament.
He says he plans to return to Venezuela, but it will be risky.
“This a real opportunity to talk to you, the world’s leaders, to bring the voice of Venezuelan people to say we stand steadfast,” Guaidó said.
“More people have left the country than have have left Syria, but we are not a country at war, there are no bombs, but we do feel the weeping of our people.”” Guaidó said.
“On behalf of Venezuela, on behalf of those children … who perhaps have no hope today, we have to make sure we act.”
Guaidó said his demand was simple: a free and fair election. “What we want is a free Venezuela, a democratic Venezuela which respects human rights, where you can invest, where we can also make the most of our oil reserves, so that we can really unleash the potential that we have, if we can rebuild our region, consolidate a democratic system which would serve its people so that we can stop this disaster.”
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For more information on the numerous sessions and contributors at the Annual Meeting in Davos, go to the WEF’s official homepage: https://www.weforum.org
