America's Insider articles from July 2001

America's Insider archives from July 2001

Colombian guerrillas make proposal for share of power in 2002.(Revolutionary Armed Forces of Colombia)(Brief Article)
July 5, 2001... BOGOTA --The FARC, Colombia's leading guerrilla group, is seeking the formation of a government of national reconciliation and reconstruction that would have them share power for the first time since their 37-year war against the state began....

Fox's status as an outsider undermines his effectiveness.(President of Mexico Vicente Fox)
July 5, 2001... MEXICO CITY -- During campaigns, presidential candidates often tout their credentials as outsiders, using that status as evidence that they will represent the people's will and not the ruling elite. But like many of these outsiders, President...

Prisoner swap allows FARC to unload dead wood, provides little help for peace process.(Revolutionary Armed Forces of Colombia)(Brief Article)
July 5, 2001... BOGOTA -- Colombian government officials are publicly saying that the decision by the FARC guerrillas to releases more than 300 prisoners - primarily police and soldiers - is a sign the peace process is bearing fruit. However, intelligence...

Venezuela gas tender termed a success, but picture is complex.(gas exploration tender offer to foreign investors)(Brief Article)
July 5, 2001... CARACAS -- Venezuelan officials are hailing the results of last week's natural gas exploration tender as a vote of confidence by investors. However, just under half of the areas on offer did not receive any bids and only a handful of the more...

Rumors and political impasse hurt Argentine recovery efforts.(effects of political instability on economic recovery)(Brief Article)
July 5, 2001... BUENOS AIRES -- The government and regional markers have been buffered by rumors that any number of top officials, including President Fernando de la Rua and Economy Minister Domingo Cavallo, could resign, touching off yet another political...

Demand grows for fixed mortgages.(tax policy)(Brief Article)
July 5, 2001... BUENOS AIRES -- A growing number of Argentine banks are offering fixed-rate mortgages for retail customers in a bid to revive lending. Many banks say a government decision to allow tax payers to deduct mortgage interest payments has not...

Repsol-Petrobras swap may fail.(Argentine regulators may not allow Repsol-YPF and Petrobras to swap assets)(Brief Article)
July 5, 2001... BUENOS AIRES -- Local reports say regulators may reject a proposal by Spain's Repsol-YPF and Petrobras for permission to swap $1 billion in assets. As a condition for approving Repsol's 1999 purchase of YPF, regulators demanded the company sell...

Capital fled Brazilian market in June.(Brief Article)
July 5, 2001... SAO PAULO --The Sao Paulo Stock exchange saw a net of $31 million in foreign capital outflows in June compared to strong inflows in May. Analysts said the movement was the result of concerns about the country's slowing economy, political...

Hotels hit by recession.(Chile)(Brief Article)
July 5, 2001... SANTIAGO -- Industry sources say that hotels in Chile have slashed rates by 15% or more as a result of a glut of empty rooms. Officials say that 50% or more of rooms in major hotels are empty. The glut is the result of the ongoing recession,...

Lagos' popularity drops.(Brief Article)
July 5, 2001... SANTIAGO -- Opinion polls show the popularity of President Ricardo Lagos has dropped to 48%. Government sources say a decline in the public's opinion of how Lagos is running the government, down to 41% is particularly worrying. Officials also...

Colombia keeps soccer tournament.(Americas Cup 2001 postponed until 2002)(Brief Article)
July 5, 2001... BOGOTA -- A furious lobbying effort by the government has convinced South American soccer officials to reverse an earlier decision to move the Americas Cup from Colombia. However, the tournament, which was to start July 11, has been postponed...

Bombings hit two active pipelines.(petroleum pipelines in Colombia)(Brief Article)
July 5, 2001... BOGOTA --Two bomb attacks against Colombia's two remaining functional oil export pipelines halted pumping on both. Guerrilla attacks on the Ocensa and Colombia lines forced state oil company Ecopetrol to shut down operations in order to...

Unified stock market opens.(stock markets in Colombia unify and open)(Brief Article)
July 5, 2001... BOGOTA -- A new stock market in Bogota which unified the old Bogota, Medellin and Cali stock exchanges has opened for business. The consolidation is intended to boost volume and breathe some life into the equities markets here. In the past,...

Mass emigration takes a toll.(Brief Article)
July 5, 2001... QUITO -- During the first six months of the year, more than 248,000 Ecuadorians left the country in search of a better life in other countries. The province of Pichincha, which includes the capital, accounted for about half of the total. The...

Power companies to be sold.(Ecuador)(Brief Article)
July 5, 2001... QUITO --The government plans to sell 16 electricity distribution companies on September 28. The companies will be sold in two groups. The sale will also include a concession to distribute power in the port city of Guayaquil. Empresa Electrica...

Techint signs deal to build pipeline.(Brief Article)
July 5, 2001... QUITO --Argentine construction company Techint has signed a contract to build the $1.1 billion heavy oil export pipeline, The company has 30 months to build the line for a consortium of foreign oil companies. The line should allow Ecuador to...

US resident wins mayor's race.(Andres Bermudez elected mayor of Jerez, Mexico)(Brief Article)
July 5, 2001... JEREZ --A Mexican resident of the United States, Andres Bermudez, has become the first Mexican emigre to win an election in Mexico. Bermudez defeated another emigre to win the mayor's race in Jerez in Zacatecas state. The election reflects the...

Venezuela cuts oil sales to Peru.(Brief Article)
July 5, 2001... CARACAS --The rising feud between Venezuela and Peru over the recent arrest of former Peruvian spy chief Vladimiro Montesinos in Caracas has prompted Venezuela to cut oil and product sales to Peru. Before the crisis, Peru imported nearly $30...

Chavez denounces alleged plots.(President of Venezuela Hugo Chavez)(Brief Article)
July 5, 2001... CARACAS -- As he goes through the annual ritual of announcing military promotions and retirements, President Hugo Chavez has accused his enemies of plotting to use the National Guard to overthrow him. He added that he plans to deploy additional...

Telecom auction may be postponed.(radio frequency allocations in Venezuela)(Brief Article)
July 5, 2001... CARACAS -- Officials say that the planned auction of radio frequencies intended to be used for Local Multipoint Distribution Systems may be postponed because of the soft international telecom market. The sale of 11 licenses already had been...

Mexico's PRI travels a tough road as it tries to rebuild lost popularity.(Institutional Revolutionary Party)(Brief Article)
July 12, 2001... MEXICO CITY -- A little over a year ago, Antonio Tetzpa, thought his position as the official hair stylist for the Institutional Revolutionary Party was a long-term job. But a year after the July 2, 2000 general election that saw the PRI lose...

President's disease adds to gloom of Bolivian economic woes.(Hugo Banzer Suarez)(Brief Article)
July 12, 2001... LA PAZ -- There was already a pervasive gloom in government circles before it was announced that President Hugo Banzer is suffering from lung and liver cancer. Signs everywhere indicated public confidence in the government and its ability...

Cavallo changes course, will focus on deficit reduction.(Economy Minister of Argentina Domingo Cavallo)(Brief Article)
July 12, 2001... BUENOS AIRES -- A chastened Argentine government is vowing to eliminate the country's chronic deficits after investor confidence crumbled and the government was forced to pay extremely high interest rates at the most recent bond sale. For...

Pinochet beats the rap as court rules he is not fit to stand trial.(former Dictator of Chile Augusto Pinochet)(Brief Article)
July 12, 2001... SANTIAGO -- Even as protestors took to the street to demonstrate against an appeals court ruling that former dictator Augusto Pinochet is mentally unfit to stand trial on human rights charges, most government officials were breathing a sigh of...

Diplomatic posting indicates Cuba does not expect better relations with the US.(head of diplomatic corps in United States Fernando Remirez is reassigned to post in Cuba)(Brief Article)
July 12, 2001... WASHINGTON -- Reflecting the deteriorating relations between Fidel Castro's government and the Bush administration, Havana has called home the high-profile head of its diplomatic mission in Washington. Fernando Remirez, Senior Vice Minister...

Opponents target Plan Colombia funding, question effectiveness of anti-drug effort.(Brief Article)
July 12, 2001... WASHINGTON - One year after Congress agreed to contribute $1.3 billion to Plan Colombia, Democrats and Republicans are bickering about the effectiveness of the ambitious program launched by Colombian President Andres Pastrana. Opponents...

Debt relief cuts obligations.(foreign debt in Bolivia)(Brief Article)
July 12, 2001... LA PAZ -- Creditors have agreed to forgive or reschedule $1.57 billion in debts owed by Bolivia. The decision is part of a global program to forgive debts owed by particularly poor countries. Officials say ongoing talks with other lenders could...

Cardoso pessimistic on tax reform.(congressional opposition to tax reform sponsored by President of Brazil Fernando Henrique Cardoso)(Brief Article)
July 12, 2001... RIO DE JANEIRO -- President Fernando Henrique Cardoso said he is pessimistic Congress will approve government tax reform proposals. He said that opposition to the proposals, as well as a number of corruption scandals that have distracted...

AES to sell port.(AES Corp.; Puerto Ventanas)(Brief Article)
July 12, 2001... SANTIAGO -- US power company AES has agreed to sell the port of Puerto Ventanas to a local investment group. AES acquired the port as part of its purchase of power company Gener. The local group will pay nearly 62% for a 70% stake in the port.

Court voids and extends royalty law.(royalty system for oil and gas production in Colombia)(Brief Article)
July 12, 2001... BOGOTA -- Colombia's Supreme Court has declared unconstitutional a 2000 law that changed the country's royalty system for oil and gas production. However, the court will allow the law to stay in effect until next June in order to give Congress...

Soccer games start as scheduled.(Copa America soccer tournament)(Brief Article)
July 12, 2001... BOGOTA -- After first being suspended and moved to another country because of security concerns, the Copa America soccer tournament got underway July 11 as scheduled. Argentina and Canada elected not to participate because of security concerns...

Pipeline resumes service, again.(petroleum pipe line in Colombia)(Brief Article)
July 12, 2001... BOGOTA --The Cano Limon-Covenas oil pipeline has resumed operations after a bomb attack knocked it out only days after it resumed service for the first time since February. The line has been off line since February and resumed service in early...

Social security reform to be approved.(Ecuador)(Brief Article)
July 12, 2001... QUITO -- Congress was due to give final approval to a range of measures intended to reform the country's social security system. After two years of debate, the law will create two parallel pension systems, one maintained by the state and the...

Guerrilla details FARC activities.(activities of Revolutionary Armed Forces of Colombia in Ecuadorian territory)(Brief Article)
July 12, 2001... QUITO -- A captured member of the Colombian guerrilla group FARC told Ecuadorian officials that the rebels have at least one 200-man fighting unit based in Ecuador and frequently operate across the border. He also provided detailed information...

Indigenous rights law near passage.(Mexico)(Brief Article)
July 12, 2001... MEXICO CITY -- An indigenous rights bill passed by Congress earlier this year requires the approval of one more state for final passage. The law amended the Constitution and therefore must be approved by a majority of state legislatures. The...

PAN wins state election.(National Action Party candidate Eugenio Elorduy is elected governor of Baja California, Mexico)(Brief Article)
July 12, 2001... MEXICO CITY -- President Vicente Fox's popularity may be dropping, but his PAN party still won a resounding victory in elections in Baja California state. The party already had won the past two gubernatorial elections but observers were still...

Truth commission formed.(investigation of human rights violations in Peru)(Brief Article)
July 12, 2001... LIMA -- Peru's interim government has appointed a Truth Commission to review possible human rights violations by terrorist and state security forces between May 1980 and November 2000. The commission is headed by Salomon Lerner a Phd in...

Police knew about Montesinos.(involvement of Venezuelan police in protection of Peruvian official accused of corruption Vladimiro Montesinos)(Brief Article)
July 12, 2001... CARACAS -- Government investigators concede that they have discovered that a number of active duty police and domestic intelligence officials were involved in protecting former Peruvian spy chief Vladimiro Montesinos. The government had claimed...

New oil law cements state ownership.(government prevented from selling units of state-owned Petroleos de Venezuela S.A.)(Brief Article)
July 12, 2001... CARACAS -- A new proposed hydrocarbons law will bar the government from selling part of any unit of state oil company Petroleos de Venezuela (PDVSA). While the law will allow PDVSA to form joint ventures with private investors, the new law...

Error disqualified Chile's leading political party from upcoming elections.(Brief Article)
July 19, 2001... SANTIAGO -- Sometimes details really matter. Because of an error in the registration documents, nearly all of the candidates from the Christian Democratic Party (PDC) - Chile's largest - briefly were ineligible for December's legislative...

Argentine crisis deepens as resistance to budget cutting grows.(Brief Article)
July 19, 2001... BUENOS AIRES -- After a series of missteps that rattled markets and helped send investor confidence plunging, Economy Minister Domingo Cavallo is working frantically to rebuild faith in his economic program through a series of budget cuts. ...

Chavez's popularity may be the latest victim of the Montesinos scandal.(Fredy Chavez, president of Venezuela)(Brief Article)
July 19, 2001... CARACAS -- The controversy over allegations that top Venezuelan security officials harbored fugitive former Peruvian spy chief Vladimiro Montesinos is growing and it appears to be taking a toll on the popularity of President Hugo Chavez. ...

Luster comes off of Brazil's economy as problems take their toll.(Brief Article)
July 19, 2001... SAO PAULO -- What a difference six months makes. In January, economists and government officials were predicting a record year for Brazil, with GDP growth of 4% to 5% and inflation below 4%. While the rest of the world expressed concern about...

Bush administration releases regulations on food sales to Cuba.(George W. Bush, president)(Brief Article)
July 19, 2001... WASHINGTON -- After months of internal disputes, the Bush administration issued regulations that allow a wide range of agricultural products to be sold to Cuba - but only after a case-by-case review of shipments. The regulations will allow...

Bush presses Congress to let Mexican trucks into US.(George W. Bush, president)
July 19, 2001... WASHINGTON - Facing one of its biggest political tests to date, the Bush administration is trying to assure Congress that Mexican trucks can operate on US highways safely under a proposal that would give Mexican truckers full access to the US...

Tensions hit ruling coalition.(with president Hugo Banzer absent, political situation gets worse in Bolivia)(Brief Article)
July 19, 2001... LA PAZ --The absence of President Hugo Banzer due to treatment for cancer in the United States is weakening his ruling coalition. Leaders from the Movement of the Revolutionary Left and Union of Civic Solidarity, which are positioning...

Airline accused of money laundering.(Aerocontinente from Chile)(Brief Article)
July 19, 2001... SANTIAGO -- Police have arrested four executives of the Aerocontinente airline, seized the firm's planes and frozen millions of dollars in company bank accounts as a result of an investigation that found the line was involved in money...

Peace process changes proposed.(government in Colombia trying to restart peace talks)(Brief Article)
July 19, 2001... BOGOTA --The government is trying to convince the FARC to participate in peace talks under a new scheme that would include more mediators and experts. The two sides have agreed on a 12-point agenda but substantive talks have gone nowhere on any...

Official arrested on rights charges.(Carlos Arturo Marulanda may have been involved in massacres)(Brief Article)
July 19, 2001... BOGOTA -- Colombia's former ambassador to the European Union and former development minister Carlos Arturo Marulanda has been arrested in Spain on charges he aided paramilitary groups that carried out a massacre on his estate in Cesar province....

Bank liquidation set to begin.(private bank goes out of business in Ecuador)(Brief Article)
July 19, 2001... QUITO --The government is beginning the process of breaking up and selling the business units of the country's largest banking company, Filanbanco. The bank was taken over by the government after it ran into liquidity problems and has cost...

Fox may be living in sin.(Mexico president Vicente Fox's marriage may not be legitimate)(Brief Article)
July 19, 2001... MEXICO CITY -- A government official and top clergyman agree that President Vicente Fox could be living in sin despite his recent marriage to his former spokeswoman Martha Sahagun. The director of the country's Civil Registry said the civil...

Peru hits decision to grant Fujimori kin citizenship.(Japan will not extradite Victor Aritomi)(Brief Article)
July 19, 2001... LIMA -- Peruvian officials have reacted angrily to a Japanese decision to grant the brother-in-law of former President Alberto Fujimori citizenship. Peru had sought the arrest of Victor Aritomi on corruption charges. Fujimori already is living...

Capital flight takes toll.(Venezuela)(Brief Article)(Statistical Data Included)
July 19, 2001... CARACAS -- Financial sector officials say Venezuelans are sending about $1 billion per month out of the country. This follows a report that depositors sent nearly $7 billion to bank accounts in Switzerland alone last year. Central Bank...

Little revenue from Colombia's largest industry finds its way back home.(illegal drugs)(Statistical Data Included)
July 26, 2001... BOGOTA -- A new study has found that while Colombian drug production has a street value of some $46 billion, just a tiny fraction of that amount ever finds its way back into the country. Colombia is the world's leading producer of cocaine -...

Lower oil prices raise fears about ability to deal with oil price shifts.(Statistical Data Included)
July 26, 2001... CARACAS -- It may be the biggest lie in Venezuela today: that the oil industry, source of most government revenue and more than 70% of GDP, is as capable and robust as it ever has been. The recent drop in oil prices has raised fears that...

Political misstep reveals tensions within Chile's ruling coalition.(Brief Article)
July 26, 2001... SANTIAGO -- Last week's fiasco regarding the slate of delegates the Christian Democrats (PDC) plan to run in December's legislative elections has exposed underlying political problems for the ruling Concertacion party. In a move that has...

Opposition balks at budget cuts, for now.(Argentina)(Brief Article)
July 26, 2001... BUENOS AIRES -- The government is facing a revolt against plans to slash spending and balance the budget this year. The Senate, dominated by the opposition Justialista Party, has delayed taking up the unpopular package of reductions of salaries...

Havana calls home chief diplomat in Washington.(Brief Article)
July 26, 2001... WASHINGTON -- Reflecting deteriorating relations between the Cuban government and the Bush administration, Havana has recalled the high-profile head of its diplomatic mission in Washington. Fernando Remirez, Senior Vice Minister of Foreign...

US seeks accelerated aid.(debt reduction efforts in Argentina)(Brief Article)(Statistical Data Included)
July 26, 2001... BUENOS AIRES --The US government has asked the IMF to speed up disbursements to Argentina. Although US sources had previously said the United States would not support new bailouts of troubled economies, top officials say they believe...

Power rationing to continue.(Brazilian energy crisis)(Brief Article)
July 26, 2001... RIO DE JANEIRO -- Government efforts to encourage consumers and industry to cut power consumption by 20% will continue indefinitely, according to Energy and Mines Minister Jose Jorge. The measures had been scheduled to end in December. Jorge...

Spending cuts detailed.(Brazilian spending policy)(Brief Article)(Statistical Data Included)
July 26, 2001... BRASILIA -- The government will cut spending by about 1 billion reals ($405 million) during the rest of the year. The cuts are intended to help offset a slowing economy and concerns about the economic crisis in Argentina, which has affected...

Auto makers take holidays.(plant shutdowns in Brazilian auto industry)(Brief Article)
July 26, 2001... RIO DE JANEIRO -- Ten of Brazil's 11 automobile manufacturers are shutting production facilities temporarily because of slack sales. The cut backs are all scheduled for July and August and average about 10 days each. Only Peugeot Citroen is...

Codelco begins restructuring.(Brief Article)
July 26, 2001... SANTIAGO -- State copper mining giant Codelco has begun work on a major restructuring of its operations. The revamping, which was announced in March, involves the creation of a number of business units that will operate as independent profit...

Penal reforms boost interest rates.(Brief Article)(Statistical Data Included)
July 26, 2001... BOGOTA -- Consumer credit rates are headed higher following the implementation of a new penal code that eases limits on interest rates. The new law raises the cap on consumer interest rates to 39%. The new reforms also affect the interest rates...

Drug crops are widely grown.(Brief Article)
July 26, 2001... BOGOTA -- US Ambassador to Colombia Anne Patterson said that the cultivation of coca and opium poppies is more widespread than thought. The amount of land used for growing coca and poppies grew by 10% during last year, but Patterson said the...

Accord reached on Emelec sale.(energy concessions in Ecuador)(Brief Article)
July 26, 2001... QUITO -- The government and the owners of Guayaquil electricity distributor Emelec have reached an agreement under which the government will tender a concession to distribute electricity in the city together with the assets of the company....

US, Mexico to exchange prosecutors.(Brief Article)
July 26, 2001... MEXICO CITY -- The government of the United States and Mexico have agreed to post federal prosecutors in each others' capitals in a bid to improve legal cooperation. The move represents a significant expansion of cooperation between the law...

Montesinos says he followed orders.(Peruvian intelligence officer Vladimiro Montesinos)(Brief Article)
July 26, 2001... LIMA -- Disgraced spy chief Vladimiro Montesinos says former President Alberto Fujimori ordered him to bribe legislators in order to secure a majority for his legislative agenda. The release of a video of one of the bribery attempts last fall...

Power sale awaits regulators.(Brief Article)(Statistical Data Included)
July 26, 2001... LIMA -- In the first major privatization since the fall of former President Alberto Fujimori last year, US company PSEG Global agreed to pay $227 million to acquire Electroandes, a state-owned power generator with 183MW of installed capacity....

Unemployment tops 15%.(Venezuela)(Brief Article)(Statistical Data Included)
July 26, 2001... CARACAS -- The latest private survey indicates that unemployment continues to rise and reached 15% in May. The survey by Datanalisis found that the government's figure of 14.5% for the same month is too low. Datanalisis also found that more...

Government proposes energy plan.(Venezuela and United States)(Brief Article)
July 26, 2001... CARACAS -- The government has proposed a plan intended to expand cooperation in energy affairs between the United States and Venezuela. The plan would involve the expansion of Venezuelan-owned refineries in the United States, a move that could...