News

Peru and Costa Rica Sign FTA

27 May 2011

Peru and Costa Rica have signed a Free Trade Agreement which will allow both nations to strengthen commercial exchanges in the areas of goods, services and investments. According to an article published in El Peruano, the FTA will create preferential access for 80% of bilateral trade between the countries which will benefit from an elimination of duties either immediately or within a period of 5 years of the date that the FTA enters into effect. Earlier this week, Peru also signed a Free Trade Agreement with Panama.

Bancolombia Completes US $1 Billion Bond Placement

25 May 2011

Bancolombia placed US $1 billion in 10 year bonds in only three hours.  It was reported that the bonds, with an interest rate of 5.95%, were rated investment grade by Fitch and Moody's.

Chilean Exports Highest Since 1996

23 May 2011

According to a report by Diario Financiero, Chilean exports reached approximately US $20 billion in the first quarter, their highest level since 1996.   Similarly, Chilean imports were approximately US $15.7 billion in the first quarter, also the highest since 1996. 

Hotel Construction License Approvals in Colombia Skyrocket

20 May 2011

According to a report published by the National Administrative Department of Statistics in Colombia, hotel construction license approvals increased 663.3% from March 2010 to March 2011, from 18,768 square meters to 143,264 square meters.