Courtesy: Gateway House
Prime Minister Narendra Modi's announcement on November 8 to demonetise notes of the denomination of Rs 500 and Rs 1000 has a precedent. This infographic traces some interesting demonetisation initiatives around the world. From discontinuation of high denomination notes due to lack of circulation, to the use of beer and water as 'real assets' in place of hyper-inflated currency.
Courtesy: BBC
At present, South Africa finds itself charting political and economic policy uncertainties. This is not to suggest that the domestic political crisis will see different trajectories unfolding with regard to its BRICS/IBSA engagements, or on a broader foreign policy path, but it will have repercussions at the international level, in terms of investor confidence, credit ratings, and currency volatility. Pretoria will face constant pressure to be seen as a credible actor, especially when it comes to its African identity.
Courtesy: Wikipedia
Despite major political change in Brazil, Argentina, and Venezuela due to global economic tumult, it may be premature to speak of a rightward shift in Latin American politics. Yet, developments in these democracies need to be monitored carefully as India has a stake in their political stability.
Courtesy: Presidencia Ecuador / Flickr
The Ecuadorian president’s first-ever state visit to India this month was cancelled, possibly because four of seven helicopters supplied by HAL to Ecuador have crashed. But this hurdle can be overcome, and ties between the two countries can expand beyond defence and oil to sectors such as pharma, IT, and agribusiness.
Courtesy: Yale University Press
Michael Reid's book argues that Brazil, a nation that was built by a top-down elite, is now moving to a new phase of a bottom-up approach to political and economic reform
Courtesy: Newscom.com
The reelection of President Dilma Rousseff means continuation of the slow growth of the Brazilian economy and a lower likelihood of much-needed, major political and economic reforms. India should lower its expectations on a global partnership with Brazil
Courtesy: fcpamericas.com
The credit for significant poverty reduction achieved in the last decade in Latin America goes to the pro-poor policies of the leftist governments. The Left is expected to be voted back to power in the October elections to be held in Brazil, Uruguay and Bolivia. The increase in affordability power is good news for the Indian companies who are exporting goods to the region
Courtesy: durdaneta/Wikimedia
Latin America’s economic growth has slowed down in 2014. But the region’s fundamentals are relatively strong, and have the resilience to absorb external shocks and increase growth in the coming years. However, Argentina and Venezuela face continuing uncertainty and deterioration.
Courtesy: Google Maps
In 'Latin America Update' Gateway House lists some of the important events in Latin America over the past month
Courtesy: Government of Brazil/Wikimedia Commons
Brazil’s advantages – including resources of oil and gas, no historical baggage, an absence of terrorism and military conflicts – and regional leadership, make it a potential global power. But it also has to tackle many challenges in the medium-term, such as poverty, poor infrastructure, healthcare and education