Venezuela must pay oil giant Exxon Mobil $1.6bn (£1bn) in compensation for expropriated assets, an international arbitration tribunal has decided.
On a hill overlooking this heat-baked town, a small oil well painted in the national colors of yellow, blue and red gives off a constant whir as it bobs up and down.
Panama City is only a short flight from the Colombian capital, but a world apart when it comes to dealing with international banking regulations and those looking to stockpile “off shore” investments.
The International Monetary Fund (IMF) is scheduled to release its much-awaited 2015 economic projections for Latin America next week, and — judging from what I heard in an interview with the IMF’S chief economist for Latin America — there won’t be much to celebrate.
THOSE baffled by the Argentine economy could do worse than listen to Puff Daddy. Ask what ails the country and the answer will echo the rapper’s ode to the 100-dollar bill, “It’s all about the Benjamins”.