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miércoles, 18 de mayo de 2011
miércoles, 11 de mayo de 2011
Baucus Joins Obama in Seeking Worker Aid in Push for Free Trade (TLC)
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Fuente: Bloomberg.
Congress must extend lapsed provisions aiding workers when acting on three pending free- trade agreements, officials from President Barack Obama’s administration and Democratic senators said.
The administration wants Congress to approve those extended benefits, as they did in 2009, for workers who lose their job because of overseas competition, Deputy U.S. Trade Representative Miriam Sapiro said today. The provisions expired this year for services workers, and demanding a renewal as lawmakers consider trade agreements may complicate or delay those pacts.
“It’s clear that we need trade-adjustment assistance to be enacted along with” the free-trade agreements, Senate Finance Committee Chairman Max Baucus of Montana said today at a hearing on a pending deal with Colombia. “The two must go together, one way or another. We have to find a way so that they both are passed this year.”
Obama inherited deals with Colombia, South Korea and Panama from the administration of President George W. Bush, and reworked provisions in each. Administration and congressional staff members began negotiating the legal texts for those agreements last week and will soon seek action by Congress.
Republican leaders say they back those free-trade deals, too, while worrying about the cost of approving further aid to laid-off workers.
“I don’t think the current funding level is sustainable,” said Senator Charles Grassley, an Iowa Republican who helped negotiate the 2009 legislation that extended trade adjustment assistance.
2007 Agreement
Republicans agreed in May 2007 with a new Democratic House majority to rework labor and environment provisions in deals with Peru, Panama, Colombia and South Korea. Grassley said that agreement was meant to lead to approval for all four deals, which hasn’t happened.
Now, with demands on trade-adjustment assistance, “I see the possibility of more goal-post moving,” Grassley said.
Sapiro said that the administration has the goal of submitting the three free-trade agreements before Congress takes a recess in August. In addition to the worker-aid program, Colombia “still has important work to accomplish” before that deal can be submitted for a vote, she said.
The trade-assistance program augments health and unemployment benefits to workers who lose their jobs because of competition from overseas competition. As part of the stimulus bill in 2009, it was expanded to include service workers such as call-center employees, who accounted for more than half of the 280,000 people aided last year, according to data from the Labor Department. Those added benefits expired in February.
The reauthorization “should have been done by now,” said Senator Benjamin Cardin, a Maryland Democrat.
Fuente: Bloomberg.
Congress must extend lapsed provisions aiding workers when acting on three pending free- trade agreements, officials from President Barack Obama’s administration and Democratic senators said.
The administration wants Congress to approve those extended benefits, as they did in 2009, for workers who lose their job because of overseas competition, Deputy U.S. Trade Representative Miriam Sapiro said today. The provisions expired this year for services workers, and demanding a renewal as lawmakers consider trade agreements may complicate or delay those pacts.
“It’s clear that we need trade-adjustment assistance to be enacted along with” the free-trade agreements, Senate Finance Committee Chairman Max Baucus of Montana said today at a hearing on a pending deal with Colombia. “The two must go together, one way or another. We have to find a way so that they both are passed this year.”
Obama inherited deals with Colombia, South Korea and Panama from the administration of President George W. Bush, and reworked provisions in each. Administration and congressional staff members began negotiating the legal texts for those agreements last week and will soon seek action by Congress.
Republican leaders say they back those free-trade deals, too, while worrying about the cost of approving further aid to laid-off workers.
“I don’t think the current funding level is sustainable,” said Senator Charles Grassley, an Iowa Republican who helped negotiate the 2009 legislation that extended trade adjustment assistance.
2007 Agreement
Republicans agreed in May 2007 with a new Democratic House majority to rework labor and environment provisions in deals with Peru, Panama, Colombia and South Korea. Grassley said that agreement was meant to lead to approval for all four deals, which hasn’t happened.
Now, with demands on trade-adjustment assistance, “I see the possibility of more goal-post moving,” Grassley said.
Sapiro said that the administration has the goal of submitting the three free-trade agreements before Congress takes a recess in August. In addition to the worker-aid program, Colombia “still has important work to accomplish” before that deal can be submitted for a vote, she said.
The trade-assistance program augments health and unemployment benefits to workers who lose their jobs because of competition from overseas competition. As part of the stimulus bill in 2009, it was expanded to include service workers such as call-center employees, who accounted for more than half of the 280,000 people aided last year, according to data from the Labor Department. Those added benefits expired in February.
The reauthorization “should have been done by now,” said Senator Benjamin Cardin, a Maryland Democrat.
martes, 10 de mayo de 2011
Colombia Exporters ‘Learning to Survive’ Strong Peso, Trade Minister Says.
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Fuente: Bloomberg.
Colombian exporters can’t expect the government to protect them from the effects of a strong currency and “are learning to survive” by boosting productivity and seeking new markets, Trade Minister Sergio Diaz Granados said.
“The plan is to encourage our companies to improve their productivity and the quality of their products, enter new markets,” Diaz said in an interview in Bogota yesterday. Exporters shouldn’t seek “artificial protections through the exchange rate that aren’t sustainable over the long term.”
Colombian exporters are having to contend with a peso that’s strengthened 23 percent over the past two years, the most after Brazil among Latin America’s six major currencies. The central bank and Finance Ministry have sought to ease the peso’s gains without resorting to capital controls as in the past, said Diaz.
“We have used them in other occasions, in 2007 and 2008, and the result was more a cost to the reputation of the country than a benefit to the exchange rate,” Diaz, 42, said. “We are providing a soft landing to the problem by devising appropriate policies.”
Finance Minister Juan Carlos Echeverry on April 29 said the government would create an overseas fund with as much as $1.2 billion from dollars bought in the local spot market through the end of 2011. The government would forgo repatriating funds from abroad for the rest of the year, Echeverry said.
The dollar purchases are in addition to the central bank’s plans to buy a minimum of $20 million daily until at least June 17.
Peso Weakened
Since the measures were announced the peso has weakened 1.6 percent. Today, the peso fell 0.34 percent to 1,794.1 per U.S. dollar at 12:11 p.m. New York time.
In 2007 the central bank attempted to reduce incentives to bring short-term capital into Colombia by ordering companies and investors to deposit 40 percent of loans raised abroad with the bank for six months. The Finance Ministry also imposed deposit requirements of 50 percent for two years on new portfolio investment in the country, including the purchase of bonds and stocks. The controls were abolished in 2008.
Central Bank Chief Jose Dario Uribe reiterated yesterday that the cost of using capital controls to ease gains in the peso outweighs the benefits.
Transport, Electricity
Diaz said that while the Finance Ministry and central bank “have the last word” on capital controls, his ministry aims to help exporters weather a strong peso, which makes their goods more expensive in dollar terms, by improving transport and making their use of energy more efficient.
Even with the gains in the currency, export levels haven’t declined, said Diaz, a lawyer who did postgraduate study at the Inter-American Institute for Economic and Social Development in Washington. Last year exports rose to $39.8 billion from $32.9 billion in 2009, according to the statistics agency.
Foreign direct investment will likely reach $8 billion this year, rising to $13 billion in 2014, Diaz said.
As part of the government’s strategy to seek new export destinations, Colombia is joining Mexico, Chile and Peru to form a trading bloc that will enable them to compete with Brazil for Asian markets. Chile, Peru and Mexico are already members of the Asia-Pacific Economic Cooperation group, known as APEC, while Colombia isn’t.
‘Distant Markets’
“It will let us bring in investment from distant markets like Europe and Asia,” Diaz said. “ We are using this as a platform to enter APEC.”
The outcome of Peru’s presidential race between Ollanta Humala, who has pledged to seek a new constitution and redistribute wealth, and Congresswoman Keiko Fujimori, who says she favors increased foreign investment and the sale of state companies, is unlikely to threaten the accord, Diaz said.
“Both have expressed their interest in the process,” he said.
Diaz, who will travel to China with President Juan Manuel Santos in September, expects negotiations for a free-trade accord between the two nations to start within four years.
Colombia plans to open trade offices this year in Singapore, Seoul and Tokyo as well as an embassy in Indonesia, he said. Free-trade talks with India may begin in three or four years.
Diaz said he doesn’t see the likelihood of any fresh holdups by the U.S. congress in ratifying a free-trade agreement with Colombia, and didn’t rule out passage by August.
Fuente: Bloomberg.
Colombian exporters can’t expect the government to protect them from the effects of a strong currency and “are learning to survive” by boosting productivity and seeking new markets, Trade Minister Sergio Diaz Granados said.
“The plan is to encourage our companies to improve their productivity and the quality of their products, enter new markets,” Diaz said in an interview in Bogota yesterday. Exporters shouldn’t seek “artificial protections through the exchange rate that aren’t sustainable over the long term.”
Colombian exporters are having to contend with a peso that’s strengthened 23 percent over the past two years, the most after Brazil among Latin America’s six major currencies. The central bank and Finance Ministry have sought to ease the peso’s gains without resorting to capital controls as in the past, said Diaz.
“We have used them in other occasions, in 2007 and 2008, and the result was more a cost to the reputation of the country than a benefit to the exchange rate,” Diaz, 42, said. “We are providing a soft landing to the problem by devising appropriate policies.”
Finance Minister Juan Carlos Echeverry on April 29 said the government would create an overseas fund with as much as $1.2 billion from dollars bought in the local spot market through the end of 2011. The government would forgo repatriating funds from abroad for the rest of the year, Echeverry said.
The dollar purchases are in addition to the central bank’s plans to buy a minimum of $20 million daily until at least June 17.
Peso Weakened
Since the measures were announced the peso has weakened 1.6 percent. Today, the peso fell 0.34 percent to 1,794.1 per U.S. dollar at 12:11 p.m. New York time.
In 2007 the central bank attempted to reduce incentives to bring short-term capital into Colombia by ordering companies and investors to deposit 40 percent of loans raised abroad with the bank for six months. The Finance Ministry also imposed deposit requirements of 50 percent for two years on new portfolio investment in the country, including the purchase of bonds and stocks. The controls were abolished in 2008.
Central Bank Chief Jose Dario Uribe reiterated yesterday that the cost of using capital controls to ease gains in the peso outweighs the benefits.
Transport, Electricity
Diaz said that while the Finance Ministry and central bank “have the last word” on capital controls, his ministry aims to help exporters weather a strong peso, which makes their goods more expensive in dollar terms, by improving transport and making their use of energy more efficient.
Even with the gains in the currency, export levels haven’t declined, said Diaz, a lawyer who did postgraduate study at the Inter-American Institute for Economic and Social Development in Washington. Last year exports rose to $39.8 billion from $32.9 billion in 2009, according to the statistics agency.
Foreign direct investment will likely reach $8 billion this year, rising to $13 billion in 2014, Diaz said.
As part of the government’s strategy to seek new export destinations, Colombia is joining Mexico, Chile and Peru to form a trading bloc that will enable them to compete with Brazil for Asian markets. Chile, Peru and Mexico are already members of the Asia-Pacific Economic Cooperation group, known as APEC, while Colombia isn’t.
‘Distant Markets’
“It will let us bring in investment from distant markets like Europe and Asia,” Diaz said. “ We are using this as a platform to enter APEC.”
The outcome of Peru’s presidential race between Ollanta Humala, who has pledged to seek a new constitution and redistribute wealth, and Congresswoman Keiko Fujimori, who says she favors increased foreign investment and the sale of state companies, is unlikely to threaten the accord, Diaz said.
“Both have expressed their interest in the process,” he said.
Diaz, who will travel to China with President Juan Manuel Santos in September, expects negotiations for a free-trade accord between the two nations to start within four years.
Colombia plans to open trade offices this year in Singapore, Seoul and Tokyo as well as an embassy in Indonesia, he said. Free-trade talks with India may begin in three or four years.
Diaz said he doesn’t see the likelihood of any fresh holdups by the U.S. congress in ratifying a free-trade agreement with Colombia, and didn’t rule out passage by August.
El Emisor afirmó que no es conveniente el control de capitales.
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Fuente: La Republica.
Durante el informe de política monetaria y rendición de cuentas, el gerente general del Banco de la República, José Darío Uribe, afirmó que en estos momentos no es conveniente el control de capitales para contrarrestar la apreciación del peso.
"Si no lo hemos usado es porque hemos considerado que el costo es mayor que el beneficio. No es conveniente el uso del control de capitales para el país", afirmó en el evento que se realizó ayer en la Biblioteca Luis Ángel Arango.
En cuanto a la implementación de un encaje bancario, medida que se utilizó en 2007, Uribe manifestó que se usaría si llegan "a la conclusión de que hay un crecimiento exagerado en el crédito que llegara a comprometer el crecimiento futuro de la economía y la estabilidad financiera". Sin embargo, el funcionario añadió que la medida aún no está en discusión.
Entre los efectos negativos que el Gerente evidenció sobre el uso del control de capitales se encuentran la disminución de la competencia del sistema financiero nacional, la afectación de las tasas de interés, de los márgenes de intermediación y la distorsión de la economía.
Al mes de abril, el Emisor realizó compra de dólares en el mercado cambiario a través del mecanismo de subasta de compra directa por US$380 millones. En lo corrido del año, la compra de divisas norteamericanas ascendió a US$1.620 millones.
Sobre el costo de vida, Uribe señaló que los cinco indicadores de la inflación básica están convergiendo en 3%, es decir, el punto medio del rango meta del Banco Central para este año.
Reiteró, así mismo, que las expectativas del Índice de Precios al Consumidor (IPC) a doce meses están por encima de 3%. En cuanto a la de cinco a diez años esta se desaceleró pero aún está por encima de 4%, techo del rango. La meta de inflación de cerca de 3% sigue vigente.
Sobre el sorpresivo dato de inflación de abril de 0,12%, el Gerente dijo que los estudios técnicos mostraban que "lo que golpea los precios de los alimentos es la sequía, mucho más la sequía que las lluvias". Según Uribe, en el futuro pueden haber otros choques que lleven al alza el IPC.
El funcionario recalcó el pronóstico del PIB en 2011 entre 4% y 6%, con 5% como punto medio, "superior al promedio de los últimos 20 años". La economía, según Uribe, crecerá no menos de 4% y estará cerca de 5%.
Las exportaciones han mejorado específicamente por los productos básicos. "Vendemos más y a mayores precios por las demandas de China e India", dijo Uribe quien agregó que las exportaciones alcanzaron los US$4.000 millones por mes.
Fuente: La Republica.
Durante el informe de política monetaria y rendición de cuentas, el gerente general del Banco de la República, José Darío Uribe, afirmó que en estos momentos no es conveniente el control de capitales para contrarrestar la apreciación del peso.
"Si no lo hemos usado es porque hemos considerado que el costo es mayor que el beneficio. No es conveniente el uso del control de capitales para el país", afirmó en el evento que se realizó ayer en la Biblioteca Luis Ángel Arango.
En cuanto a la implementación de un encaje bancario, medida que se utilizó en 2007, Uribe manifestó que se usaría si llegan "a la conclusión de que hay un crecimiento exagerado en el crédito que llegara a comprometer el crecimiento futuro de la economía y la estabilidad financiera". Sin embargo, el funcionario añadió que la medida aún no está en discusión.
Entre los efectos negativos que el Gerente evidenció sobre el uso del control de capitales se encuentran la disminución de la competencia del sistema financiero nacional, la afectación de las tasas de interés, de los márgenes de intermediación y la distorsión de la economía.
Al mes de abril, el Emisor realizó compra de dólares en el mercado cambiario a través del mecanismo de subasta de compra directa por US$380 millones. En lo corrido del año, la compra de divisas norteamericanas ascendió a US$1.620 millones.
Sobre el costo de vida, Uribe señaló que los cinco indicadores de la inflación básica están convergiendo en 3%, es decir, el punto medio del rango meta del Banco Central para este año.
Reiteró, así mismo, que las expectativas del Índice de Precios al Consumidor (IPC) a doce meses están por encima de 3%. En cuanto a la de cinco a diez años esta se desaceleró pero aún está por encima de 4%, techo del rango. La meta de inflación de cerca de 3% sigue vigente.
Sobre el sorpresivo dato de inflación de abril de 0,12%, el Gerente dijo que los estudios técnicos mostraban que "lo que golpea los precios de los alimentos es la sequía, mucho más la sequía que las lluvias". Según Uribe, en el futuro pueden haber otros choques que lleven al alza el IPC.
El funcionario recalcó el pronóstico del PIB en 2011 entre 4% y 6%, con 5% como punto medio, "superior al promedio de los últimos 20 años". La economía, según Uribe, crecerá no menos de 4% y estará cerca de 5%.
Las exportaciones han mejorado específicamente por los productos básicos. "Vendemos más y a mayores precios por las demandas de China e India", dijo Uribe quien agregó que las exportaciones alcanzaron los US$4.000 millones por mes.
jueves, 5 de mayo de 2011
IPC de Abril fue de 0,12%
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"En abril, el IPC presentó una variación de 0,12%, cifra inferior en 0,34 puntos porcentuales a la registrada en el mismo mes de 2010 (0,46%). En lo corrido del año, el índice se ubica en 1,91%, mientras que para los doce presenta una variación de 2,84%"
Acá el informe del DANE.
"En abril, el IPC presentó una variación de 0,12%, cifra inferior en 0,34 puntos porcentuales a la registrada en el mismo mes de 2010 (0,46%). En lo corrido del año, el índice se ubica en 1,91%, mientras que para los doce presenta una variación de 2,84%"
Acá el informe del DANE.
miércoles, 4 de mayo de 2011
Índice de Precios del Productor, registró un incremento de 0,20%.
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Fuente: Dane.
El Índice de Precios del Productor -IPP- para el mes de abril de 2011, registró un incremento de 0,20%, tasa inferior en 0,27 puntos porcentuales frente a la registrada en abril de 2010.
En lo corrido de 2011 hasta abril, la variación del Índice de Precios del Productor –IPP-, fue 3,45%. Esta tasa es superior en 0,28 puntos porcentuales frente a la registrada en abril de 2010, cuando se ubicó en 3,17%.
En los últimos doce meses a abril, la variación acumulada fue 4,66%. Esta tasa es superior en 4,38 puntos porcentuales frente a la registrada para igual periodo de 2010, cuando se ubicó en 0,28%.
Informe acá.
Fuente: Dane.
El Índice de Precios del Productor -IPP- para el mes de abril de 2011, registró un incremento de 0,20%, tasa inferior en 0,27 puntos porcentuales frente a la registrada en abril de 2010.
En lo corrido de 2011 hasta abril, la variación del Índice de Precios del Productor –IPP-, fue 3,45%. Esta tasa es superior en 0,28 puntos porcentuales frente a la registrada en abril de 2010, cuando se ubicó en 3,17%.
En los últimos doce meses a abril, la variación acumulada fue 4,66%. Esta tasa es superior en 4,38 puntos porcentuales frente a la registrada para igual periodo de 2010, cuando se ubicó en 0,28%.
Informe acá.
domingo, 1 de mayo de 2011
Datos económicos.
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En la seccíon de datos económicos ya puedes ver los siguientes datos:
Tasa de intervención BANREP abril: 3,75%
Tasa de inflación marzo: 0,27%
Tasa de inflación acumulada 2011: 1,79%
Tasa de inflación 12 meses: 3,19%
Tasa de desempleo marzo: 10,8%
Y otros más.
En la seccíon de datos económicos ya puedes ver los siguientes datos:
Tasa de intervención BANREP abril: 3,75%
Tasa de inflación marzo: 0,27%
Tasa de inflación acumulada 2011: 1,79%
Tasa de inflación 12 meses: 3,19%
Tasa de desempleo marzo: 10,8%
Y otros más.
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