Venezuelan currency devaluation worsens business environment

In mid-January 2010 the Venezuelan government devalued the currency from its previous rate of BsF2.15 per US dollar. This will stoke inflation, eroding consumer incomes and increasing costs for businesses. The government is seeking to prevent prices rising by threatening to nationalise businesses that do so, and also to improve its financial situation at a time when oil revenues are declining amid the global economic downturn. However, this will worsen the business environment for investors.
Venezuelan exchange rate: 2001-2010
BsF against US dollar

 
Source: Euromonitor International
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Dominican Republic – Policy Implications From Haiti’s Disaster

The Dominican Republic finds itself at the heart of the international relief effort for Haiti following the devastating magnitude 7.0 earthquake on January 12. While a prevention of an economic and political crisis is certainly in President Leonel Fernández’s interest, previous emphasis on harsher measures against illegal Haitian immigrants and tighter border security will place the president in a difficult position.
Source: Business Monitor International

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New fiscal regime for oil, gas drillers

After more than a year of waiting, heads of oil and gas exploration companies may be able to breathe easier as Minister of Energy Conrad Enill yesterday announced that revised fiscal terms for exploration were complete and delivered to them. Speaking at the launch of the Energy Conference Trinidad and Tobago 2010, Enill responded to commentators who said the State was stalling with the new energy fiscal regime.
Source: Trinidad Express (26/01/10)  http://www.trinidadexpress.com/index.pl/article_business?id=161587140

 

Future watch: The life of extreme commuters, commuting couples and “Generation Exodus”
More and more people are on the road – not like Jack Kerouac on a road trip – but just trying to get to work. A population of extreme commuters is growing and they spend more than an hour, some as much as 90 minutes or two hours, getting to work every day. And then there are some, part of the so-called “Generation Exodus” whose members take their work to another country in search of better opportunities and housing. What are some of the driving forces for this trend and is there a ‘solution’ to it?
Future directions

 
• All for the family;
 
• Turning commuting time into work time;
 
• Till work do us part;
 
• For better or for worse?
 
• Mobile workers the solution to extreme commuting?
 
• Migrant workers major homebuyers.

Source: Euromonitor International
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TT to become food basket of region

Newly re-elected president of the Agricultural Society of Trinidad and Tobago (ASCTT), Dhano Sookhoo has promised to help her members to become better farmers in TT. She said this on Wednesday during her remarks at the ASCTT’s annual general meeting at the Centre of Excellence, Macoya.
Source: Trinidad Newsday (29/01/10)  http://www.newsday.co.tt/business/0,114971.html

 
Regional Focus: Rising obesity rates in Latin America

Latin America is experiencing a sharp rise in obesity, particularly in countries such as Mexico, Venezuela and Guatemala, which are in the top 10 most obese countries in the world. This reflects greater access to calorific food and increasing urbanisation. Rising obesity poses challenges to governments in terms of increasing health problems and will increase in the long term, as populations in Latin America continue to expand.
Source: Euromonitor International
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Energy Chamber to lead African trade mission

Chief Executive of Energy Chamber, Thackwray Driver, has described the recently concluded Energy Conference as a resounding success, highlighting the numerous business opportunities unveiled, and the signing of several key agreements, including one that sets the standard for safety on the job.
Source: Trinidad Guardian (29/01/10)  http://guardian.co.tt/business/business/2010/01/29/energy-chamber-lead-african-trade-mission

 
Market Strategy -  Debt Restructuring Only The First Step
 
BMI View: Jamaica’s decision to restructure its onerous domestic debt is the right one in our view, with the benefits outweighing the damage done to the country’s perceived creditworthiness. However, it is not a miracle cure, with deleveraging and belt-tightening still imperative to accelerate the fiscal convalescence and ensure a sustainable economic recovery.
Debt Exchange A Good Thing

 
Jamaica – US$ Global 2025 Bond Yield (%)
 

Source: Business Monitor International

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