Courtesy: globalsherpa.org
The Indian government has undertaken a massive financial inclusion scheme to bring bank accounts to the poor. But poverty alleviation needs to be addressed at multiple levels for which the Latin American example of using targeted and customised conditional cash transfer programmes can help India
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: wikimedia commons
Brazilian president Dilma Rouseff's bid for re-election has been ambushed in just two weeks by activist Marina Silva who is now predicted to win the October elections. If elected, Marina is likely to continue with the pro-poor policies of the current government, and she has already shown a keen interest in foreign policy. PM Modi will find Marina more proactive and forthcoming than Rouseff
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: wikimedia
The Argentines blame the 'Washington Consensus' for the default in 2001, and the New York judiciary and vulture funds for the 'artificial default' in July this year. These are challenges not just for Argentina; they endanger the global debt restructuring system and contradict U.S. domestic laws
Courtesy: wikimedia\commons
Brazil follows a more decentralised form of federalism and gives special importance to the municipalities. Porto Alegre’s successful 'participatory budgeting' is a role model for the world. India can learn from both the positive and negative aspects of the Brazilian system
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: news.yahoo.com
The sharp Latin American response to the Israeli bombings in Gaza, on the back of solid support from the U.S., is attributable to the memory of the atrocities committed by past Latin American military dictators with similar U.S. backing. Their strong response is also a sign of the increasingly independent and assertive Latin American voice on the global stage
Courtesy: Gateway House
Prime Minister Narendra Modi’s visit to Brazil for the BRICS summit is an opportunity for India to intensify its engagement with South America and reactivate the long-dormant IBSA (India, Brazil and South Africa) grouping. This grouping is a promising partnership comprising of different models of democracies spread over three continents
Courtesy: wikimedia/commons
Brazil is all set to host the 6th BRICS Summit from July 15. In light of the fact that most developing nations have concerns over the pro-western bent of the World Bank and the IMF, the BRICS initiative of setting up of a Development Bank needs to gain momentum and the nations should finalise the mandate on a priority basis