Forget the medal count, here’s the table that really matters – beyondbrics most read items of the week, plus a chart and five things we’ve learned…
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Mining has been the backbone of the recent growth of Bolivia and Peru. It also seems to be potential money spinner for their Andean neighbour, Ecuador. But despite certain ideological similarities, when it comes to mining, the approaches of their leaders seem to differ.
In Bolivia, after some protracted protests, the government of Evo Morales on Thursday signed a decree authorizing the seizure of a silver deposit operated by South American Silver, part of a Canadian mining group. Continue reading »
There was a point earlier this year when Brazil’s real looked like it could weaken well past the R$2 to the dollar.
So, given the government’s long-held desire to help Brazilian manufacturers exporters become more competitive through currency depreciation, it was something of a mystery then when the central bank stepped in earlier this year and stopped it from sliding much further.
Now we know one of the reasons perhaps that the government was keen to keep a lid on its currency war – the worst results from state-run oil company Petrobras in 13 years and most of it due to a weaker real against the dollar. Continue reading »