IAPH has over 150 of the world’s leading ports as members, widely regarded as a benchmark for governance, safety, and environmental challenges in the maritime sector.

Industry players say the IAPH move is partly designed to reassure terminal lease bidders and ESG-conscious lenders that Santos will universally recognise standards for emission, safety, and transparency, easing financing and permitting for the planned cluster of new terminals.

Through IAPH, Santos Port Authority gains direct entry to tools such as the Environmental Ship Index (ESI) and the World Ports Sustainability Programme (WPSP), which function as global knowledge platforms for green port operations and emissions‑reduction strategies.

The authority says this alignment will help Santos refine its carbon‑reduction roadmap, including investments in alternative fuels, energy‑efficient handling equipment, and cleaner vessel‑incentive schemes.

Santos has around 120 million tons of cargo per year and roughly 30-35% of its total foreign trade. The Santos Port Authority also signals plans for electrified quay cranes and shore power infrastructure for large vessels, which it intends to calibrate using ESI and WPSP benchmarks.

Strategically, the move comes as Santos is expanding its land footprint by more than 50%, from 9.3 km² to 14.5 km², with plans to tender up to 30 new terminals and an export‑processing zone (ZPE) starting in 2027. The Santos Port Authority leadership has framed the IAPH membership as a way to benchmark that growth against leading global ports and attract private‑sector operators with modern, compliant, and ESG‑aligned infrastructure.

Industry analysts interpret Santos’ IAPH accession as a step toward positioning the port as a regional model for sustainable port‑city development, particularly as Latin American trade corridors grow in importance for global exporters and shippers.

Analysts suggest that Santos will become Latin America’s reference port for sustainable expansion at a time when European and North American shippers are increasingly demanding validated ESG performance from gateway terminals.

The post Santos Port Authority joins global port‑governance body IAPH appeared first on International Finance.

Speaking to the Emirates News Agency (WAM), Al Zeyoudi noted that while trade and investment relations between the Gulf major and the South American country continue to grow, the non-oil segment reached USD 373.6 million in 2025, reflecting trade growth of 3.2% compared to 2024 and more than three times its 2019 level.

The minister further added that the UAE is Ecuador’s largest trading partner in the Arab world and the African continent, accounting for around 30% of the Latin American nation’s total trade with countries in these regions combined.

The two countries have signed an Investment Promotion and Protection Agreement (IPPA) to create a transparent and stable environment for foreign direct investment (FDI) flows by reducing risks, protecting intellectual property rights, and establishing clear dispute resolution frameworks. The development reflects the strength of bilateral ties, apart from providing an effective platform for facilitating trade and investment and building networks. Further increasing its bilateral engagement with the UAE, Ecuador recently opened its trade office in Dubai to support cooperation with the Gulf nation’s private sector.

Al Zeyoudi affirmed that the CEPA will eliminate or reduce customs duties on more than 96% of traded goods and products between the UAE and Ecuador, contributing to improved market access for exports and strengthening supply chains.

“The agreement provides a trade and investment corridor linking the UAE with Latin American markets, while the UAE’s stature as a global trade hub will support the expansion of Ecuadorian companies into markets across Asia, the Middle East, and Europe. It will also increase investments in vital sectors, enhance private sector partnerships, and support cooperation among small and medium-sized enterprises,” the minister commented.

According to Dr. Thani Al Zeyoudi, the agreement’s scope is wide, benefiting clearly complementary sectors such as renewable energy, agriculture, logistics services, technology, food production, and advanced technologies like artificial intelligence (AI), advanced manufacturing, mining, education, capacity building, tourism, and hospitality.

The post UAE-Ecuador CEPA marks strategic milestone appeared first on International Finance.

They’re the invisible backbone of our daily lives. Quiet but essential. They’re behind your power, your data, your food, your travel. Yet, for some reason, we rarely stop to think about them.

And while our dependence on them grows by the minute, what are the systems to mine and move them forward? Sluggish. Awkward. Often broken. You’ve got roads that fade into dust, ports that choke under pressure, rail lines that barely exist. Meanwhile, the countries sitting on these resources? Still struggling to connect with the global economy they could help fuel.

It’s not just a supply chain issue. It’s a development crisis, too. According to a bunch of leading analysts (the serious number-crunchers), we need around USD 5.3 trillion in investments by 2030 just to keep up with the mineral demand driven by decarbonisation and digital growth. Yeah, trillion with a “t.” And no, money alone won’t fix this. Not even close.

You could stumble upon the world’s richest copper deposit tomorrow, but if there’s no road to get there, no power to run machines, no water to support the operation, it’s pretty much just shiny dirt. Enter Saudi Arabia. And no, it’s not just an oil story anymore.

They’re diving into mining big time. Updated laws, serious infrastructure investments, geological mapping—you name it. But the boldest move? Creating the Future Minerals Forum (FMF). Forget the stiff, boring conference stereotype. FMF feels more like a living organism than an event.

FMF pulls together ministers, mining bosses, development banks, and even communities who were once ignored. Its goal is surprisingly simple: move away from the old “dig it and ship it” approach and towards a model that builds real, lasting value.

Let’s zoom in. One of FMF’s standout ideas is cross-border mineral corridors. Sounds technical, but it’s powerful. These are shared road, rail, energy, and water routes that tie together several countries sitting on mineral wealth. Seven such corridors have been mapped so far, five in Africa, two in Latin America. Real places. Real resources. Real possibilities.

Take the Lobito Corridor. It’s a 1,300-kilometre railway that cuts through Angola and Zambia, reaching into Congo’s mineral-heavy heart. On a map, it’s a line. In real life, it’s hope, an example of what’s possible when strategy, politics, and investment sync up for once.

Still, there’s no magic wand. Infrastructure is just one side of the dice. The other? Sustainability, fairness, and local development. That part’s tougher.

FMF isn’t dodging that complexity. In fact, it’s going straight into it. They’re teaming up with the World Bank to rethink how mining projects are funded. The aim is to make investments less risky, attractive, and ethical.

Because let’s be real. In a lot of places, it’s not that there aren’t enough minerals. It’s that no one wants to take the risk to build around them. And then come the human questions, the ones that sting a bit.

What happens to villagers when a lithium plant shows up next door? Who trains the next generation of workers? Will electricity from a mining site ever reach homes nearby? Or are those communities just left behind again? These aren’t throwaway questions. They need answers. And slowly, FMF is helping us get there.

Whether it’s tackling water issues in South America’s lithium triangle or figuring out how Congo and Zambia can share power grids for copper mining, the Forum is focusing on the stuff that actually matters.

Of course, it’s easy to roll your eyes at high-level events. There’s no shortage of grand speeches that fizzle out. But something about FMF feels different. It’s grounded. Gritty. A bit chaotic, maybe, but in a way that feels alive.

Because this isn’t about clean press releases. It’s about messy cooperation, slow wins, and people figuring things out together. And maybe that’s what makes it human. These minerals? They’re not just economic assets. They’re a reflection of whether we’ve learnt to do things better. Whether we can go from short-term digging to long-term building. From taking to truly sharing.

The time to build is now. This is about more than rocks. It’s about rewriting who gets to benefit from them. It’s about giving countries, especially in Africa, Asia, and Latin America, not just a line in someone else’s story but a full chapter of their own.

If we get the infrastructure right, the policies aligned, and the funding smarter, we won’t just be unlocking minerals. We’ll be unlocking futures. And yeah, next time someone brings up cobalt or tin? Maybe don’t zone out. Maybe lean in. There’s a lot more riding on it than most of us realise.

The post IF Insights: The future runs on minerals, not just oil or data appeared first on International Finance.

Henry Ziemer, an associate fellow at the Centre for Strategic and International Studies (CSIS), says the region is rich in minerals, especially copper and lithium, whose demand is expected to soar, as well as more specialised minerals like nickel, rare-earth elements, and niobium, which are used in steel and aerospace manufacturing.

The International Energy Agency (IEA) predicts that over the next 15 years, the world’s demand for lithium will grow by a factor of 40, and by 2028, S&P Global Market Intelligence estimates that it could surpass current worldwide production output.

Additionally, according to the IEA, demand for copper would increase by 40% over the next five years, surpassing current production by 2030.

Demand for lithium is more susceptible to shifting market conditions in the green energy sector, especially if the Trump administration reduces carbon emission targets and withdraws the US from the Paris Agreement.

However, Ziemer contends that this is not the case for copper, which is “almost certain to remain high in demand as it will be critical for applications ranging from green energy and electric vehicles to the wiring needed to power AI data centres.”

According to IEA data, Latin America is home to seven of the top ten most productive copper mines in the world and has about 60% of the world’s lithium and 40% of its copper reserves. Furthermore, the region is home to the majority of the world’s top producers of the two metals, with Chile and Peru leading the list for copper and Bolivia, Argentina, and Chile leading the list for lithium.

Supply chain diversification

Diversifying mineral supply chains is becoming a major corporate and geopolitical concern as the United States and China compete more fiercely, especially in the technology sector, and as rising demand further strains global metal supplies.

According to United Nations data, over 40% of the world’s capacity for smelting and refining of copper, lithium, rare earths, and cobalt is in China.

The World Bank noted that China was responsible for a staggering 65% of Chile’s mineral exports in 2021, which amounted to almost 6% of Chile’s GDP in Latin America.

Melissa Sanderson, a board member of American Rare Earths, said, “China’s market dominance allows it to exert significant influence over global pricing, whether by increasing or restricting exports of key commodities or by implementing other restrictions on key materials.”

Canadian Prime Minister Justin Trudeau recently stated that the nation’s mineral and metal resources are a major factor in US President Donald Trump’s ambition to annex Canada. Given China’s dominance of vital minerals worldwide, he noted, “this is a strategic vulnerability for the US vis-a-vis China, as it is for much of the Western world.”

Trump vowed to further divorce from China’s midstream supply chain and announced a national energy emergency as one of his first actions as president in his second term. Beijing replied to his announcement of a 10% global levy on Chinese imports by, among other things, limiting the export of minerals that it utilises in its supply chain.

Companies are also being prompted to disengage from their existing mineral supply networks due to the growing threat of a trade war.

Tim Heneveld, country director for Pergolux in North America, said, “Trump’s early signals have supply chains on edge, especially in industries that rely on manufacturing and critical materials. Businesses are reconsidering their material sourcing practices; many are trying to find new suppliers or move their operations to areas with lower geopolitical risks.”

However, there will be a price to pay for creating more robust mineral supply chains, according to Laura Dow, Business Director at CPG Buying, a company that focuses on buying goods and materials from China.

“Businesses that put a strong emphasis on a supply chain that is balanced and future-proof will be the most successful in the long run. This dynamic has prompted the US and Canada to seek stronger partnerships in Latin America to diversify and secure their critical mineral supplies,” says Iggy Domagalski, CEO of Wajax, a Canadian distributor of industrial products and services.

Reaching maximum potential

Although some of the world’s largest reserves of rare-earth elements and essential minerals are found in Latin America, much of this remains unexplored. Additional expansion might be a crucial remedy for the world’s supply networks, which are becoming more stressed.

According to a study co-authored by Economist Impact and JP Morgan Private Bank, “The region, with a few exceptions, has not yet been able to realise its full potential in the value chains for critical minerals, and therefore in those for clean energy and digital components.”

“The environmental and physical costs of increasing mining are being borne by many communities. However, given competing local and global geopolitical objectives and growing environmental concerns, boosting the sector may prove to be a challenging task. Furthermore, local interest in creating sourcing networks is also constrained by a historical discrepancy between the region’s midstream output and raw material production,” CSIS’s Ziemer commented.

Isabel Al-Dhahir, senior analyst at GlobalData, parent company of Mining Technology, believes that China has become a major force in the midstream copper and lithium market in Latin America over the past 20 years, thriving in the void created by the governments of the region’s lack of investment.

She cautions that this reduces Latin America’s geopolitical clout and restricts the area to selling raw minerals to the Chinese and other international investors.

As per Economist Impact and JP Morgan Private Bank, this disparity is ascribed to “a multitude of factors, including an increasingly complex regulatory environment, lack of critical infrastructure, and low extraction and processing capacity, to name a few.”

“By 2030, global demand is expected to outpace production for key inputs like lithium and copper, making the opening of new mines an ongoing challenge. New projects must be developed as quickly as possible to avoid a global shortage of certain essential minerals, since it can take years or even decades from the time a mining claim is staked to the first output,” Ziemer noted.

Redressing past inequities

Due to these conflicts, the local populace mistrusts the industry’s efforts to promote regional growth, especially the opening of new mines, which is a crucial prerequisite for increasing output.

Ziemer said that “many communities in Latin America find themselves bearing the environmental and physical costs of increased mining, so the increase in demand (for critical minerals) has come with a price.”

Local governments have responded to this by increasing state support and forming more public-private partnerships, which have led to a diversification of supply chains for production and output.

The largest economy in the region, Brazil, which has the third-largest nickel and rare-earth element reserves in the world, has committed $815 million to supporting projects in the field “in the context of sustainable and technological development,” according to a statement made last month by Aloizio Mercadante, president of Brazil’s National Development Bank.

In an effort to further domesticate the midstream lithium industry, Chile’s government-run copper mining company, Codelco, and lithium manufacturer Sociedad Química y Minera de Chile signed a 35-year contract to jointly develop the vast lithium resources in the Salar de Atacama salt flat between 2025 and 2060.

To further diversify the country’s long-term sourcing away from China, the government of lithium-rich Argentina recently signed a cooperation agreement with the US.

These actions follow strong opposition to foreign mining ventures in countries such as Bolivia, Chile, and Panama, most notably leading to the recent closure of the Cobre Panamá mine amid environmental concerns and widespread public unrest.

“The incident further highlights that countries and their citizens are not willing to accept an unrestricted expansion of mining based solely on demand for critical minerals,” Ziemer warns.

Changing partnerships

The worldwide competition for vital minerals is a complicated geopolitical struggle in addition to an economic one. Latin America, which is caught in the crossfire of geopolitical interests, is significantly impacted by the fierce competition between the US and China.

China has long influenced global pricing and supply chains by using its hegemony in the smelting and refining of minerals. However, the United States and its allies are now looking for alternate sources of vital minerals due to recent trade conflicts and tariffs, including those imposed by the Trump administration. As a result, Latin America, with its vast reserves, has emerged as a crucial theatre in which these superpowers compete for influence.

Many Latin American countries are seeking to exert greater control over their mineral resources in response to growing external demand. Efforts such as negotiating more favourable trade agreements with major economies and forming regional alliances are gaining traction. In an era where political power and resource control are increasingly intertwined, these measures aim to safeguard national sovereignty while securing economic benefits.

ESG factors and investment risks

Environmental, social, and governance (ESG) factors are becoming important to investors as they assess possible projects. This change poses an opportunity for the mining industry in Latin America.

Global investors are closely monitoring mining companies, demanding responsibility, sustainability, and transparency in their operations. Mining-related social and environmental hazards, including ecological harm, community uprooting, and regulatory uncertainty, can have a big financial impact. Investors now prioritise businesses that integrate strong ESG processes and show a dedication to long-term sustainability above those that only focus on short-term profits.

For investors, the current geopolitical environment adds another level of risk. The stability of mineral markets can be impacted by trade disputes, shifting alliances, and erratic governmental changes. As a result, many investors are becoming wary about depending heavily on one area or provider.

Diversification is becoming a crucial tactic for reducing these risks, geographically and in terms of production methods. Businesses that make investments in diverse supply chains, local processing capacity, and environmental practices have a better chance of surviving future market turbulence.

We are at a turning point in the search for critical minerals. On one hand, the twin forces of digital transformation and the transition to green energy are expected to drive a global surge in demand for copper, lithium, and other key resources. On the other hand, the race to secure these materials has exposed long-standing challenges related to social inequality, environmental degradation, and geopolitical instability.

Development in Latin America must be sustainable and inclusive if the continent is to reach its full natural riches potential. This entails making certain that local communities gain from resource exploitation by investing in public services, creating jobs, and sharing revenue.

At the same time, businesses need to embrace more environmentally friendly technologies and follow global guidelines that safeguard human rights and the environment. Long-term success in the area can only be attained by finding a balance between social responsibility and economic progress.

Technological developments present encouraging answers to many of the problems the mining sector faces. Technology may significantly increase operating efficiency and sustainability, from more effective extraction methods to the incorporation of renewable energy and digital monitoring systems. Governments and corporations in Latin America must cooperate to fund R&D, creating an innovation ecosystem that can adjust to changing international norms.

Latin America now plays a crucial role on the world scene as a result of the ongoing US-China conflict. However, by creating its own value chains and regulatory frameworks, the region must also demonstrate its strategic autonomy.

The Latin American nations can reduce their dependence on any single foreign power by strengthening ties with both long-standing partners and emerging markets. Beyond enhancing national security, this balanced approach provides the flexibility needed to navigate an increasingly complex global landscape.

Final thoughts

Latin America’s mineral wealth is positioned to be a key factor in the world’s ongoing transition to a more technologically advanced and connected future. But wisely utilising this potential is the difficult part. The region can transform this new battlefield into a global paradigm for how natural resources can propel revolutionary economic and social advancement with careful policymaking, inclusive practices, and a dedication to sustainability.

The competition for essential minerals is more than just a matter of supply and demand in a world characterised by swift technological advancements and shifting geopolitical alliances. Environmental stewardship, cultural rights, and economic imperatives interact in a complicated way.

A microcosm of the greater global fight for sustainable development is Latin America’s quest to benefit from its mineral wealth while making sure that the expenses are fairly distributed.

A more resilient and responsible future may be modelled after the lessons learnt here, which include investing in cutting-edge technologies, rethinking conventional resource extraction strategies, and striking a balance between local and global demands.

The stakes have never been higher, yet the road ahead is certainly difficult. Latin America’s vital minerals will continue to be at the forefront of this revolutionary change as countries across the world rearrange their supply networks and reevaluate their strategic goals.

The region has a rare chance to change not just its own fate but also the direction of global manufacturing and technology, whether through increased community involvement, progressive regulatory changes, or the adoption of cutting-edge green technologies.

Acquiring raw resources is only one aspect of the conflict over Latin America’s vital minerals, while the other is the fair allocation of rewards and obligations. A balanced strategy that incorporates economic, social, and environmental factors is crucial as the globe moves toward smarter technologies and greener energy.

Only by doing this will Latin America be able to turn its abundant but frequently underutilised resources into a driving force for long-term development, guaranteeing that the promise of mineral wealth is fulfilled in ways that benefit local communities, protect the environment, and strengthen the region’s position in a world growing more multipolar.

The post Latin America’s emerging minerals battleground appeared first on International Finance.

A free market is one where voluntary exchange and the laws of supply and demand provide the sole basis for the economic system, with little or no government intervention. The President of South America’s second-largest economy wants to cut all welfare programmes, and make the Dollar the only legal tender in Argentina, by replacing the Peso and opening up to trade with capitalist countries.

Most populist leaders are great showmen. Javier Milei takes the game to a whole new level. He has an eccentric persona and came to an election rally with a chainsaw, symbolically hacking away the state and its corruption, earning him the nickname “Chainsaw Man.” He comes dressed up as a lion and even a superhero called ANCAP or Anarcho-Capitalist Man. His rallies are more akin to Comicons than political gatherings and are mostly supported by the youth of Argentina.

Investors, on the contrary, were over the moon with Javier Milei’s victory. Argentine stocks and bonds went up strongly in New York. The value of YPF, an energy company that is mostly owned by the government, went up by 40%. Jorge Piedrahita, the founder of Gear Capital Management, told Bloomberg, “This is the chance for a new start.”

Does Argentina need a start?

Argentina’s GDP was about the same as many Western European countries a hundred years ago after steamships made it possible to send beef and other fresh goods to Europe and North America.

However, it is now very far behind them. It has missed three payments on its national debt since 2000. Long-lasting droughts have been terrible for the country’s agriculture over the past couple of years. There is no more money in the market, and the rate of inflation has risen to 142.7%. The value of the Argentine Peso has dropped over 90% against the US Dollar in the last four years. This means that 40% of Argentines are living in poverty.

Javier Milei, the economist, first got people’s attention by showing up on a late-night TV show. He was mostly angry at the centre-left Peronist parties that have been in power for most of the last twenty years, but he also said that Mauricio Macri’s centre-right government, which was in power from 2015 to 2019, wasn’t strict enough. He told voters that if he won, he would cut taxes and government spending, remove most government agencies, including the Central Bank, and burn all government rules like a bonfire. At his victory party, he said, “Today is the end of decadence in Argentina.”

Some compare Javier Milei with Donald Trump, saying that both of them are right-wing nationalists who like to rule by force. The comparison, however, doesn’t work when it comes to business. Both Milei and Trump indeed call themselves economic nationalists, but Milei doesn’t agree with Trump’s ideas of protectionism.

Milton Friedman and Robert Lucas, two famous economists from the University of Chicago, and Murray Rothbard, a less well-known New Yorker who helped bring the Austrian school of free-market economics to the United States, are some of Milei’s main intellectual influences. Five English mastiffs belong to Milei. Four of them are named Milton, Robert, Lucas, and Murray, and the fifth is named Conan after the Barbarian.

Javier Milei lived in Buenos Aires as a child. After playing goalie for the professional football team Chacarita Juniors for a short time, he switched his focus to economics, getting two master’s degrees and working for several banks, including HSBC.

In a very honest interview with The Economist in September 2023, Milei talked about how reading an article by Rothbard, who died in 1995, turned him into an “anarcho-capitalist.” An “anarcho-capitalist” is someone who thinks that the economy should be based only on private contracts and that the welfare state is “the enemy.”

Javier Milei said that he was still an anarcho-capitalist in his mind, but he was also aware of some of the problems that come with putting this theory into practice. He believed that the state should be as small as possible by only doing security and law enforcement. This is what it means to be a “minarchist.”

When it comes to Latin America, Milei is the ‘son’ of General Pinochet’s Chicago Boys, who opened up Chile’s economy with the barrel of a gun in the 1970s and 1980s, and Domingo Cavallo, who was Argentina’s neoliberal economy minister and tied the Peso to the Dollar in the 1990s. But it’s one thing to support extreme ideas as a person who writes about the economy or runs for office to protest. Another thing is putting them into action, which is hard to do in a country like Argentina that is so split.

The tough road ahead

Since Milei doesn’t want his policies to be put into effect by presidential order, he will have to get them through the two-house legislature, which is mostly made up of centre-right and centre-left parties. Milei would still need to win over some Peronists in the Senate, even if Macri’s party, Together for Change, agreed with Milei’s plans in the lower house. That doesn’t look likely.

Milei might find it hard to get the harsh austerity policies he wants to see passed. There are also real concerns about his main policy idea, which is to make everything worth a Dollar. He says that one of the main reasons for Argentina’s inflation problems is that politicians often use the printing press to solve economic issues. He says that dissolving the Argentine Central Bank and making the US Dollar the only legal currency would stop inflation and drive the government to balance its books.

Javier Milei talks about what happened in Argentina in the early 1990s, when Cavallo, who was president at the time, dealt with hyperinflation by making the Peso fully convertible and putting up a currency board to protect the peg. The inflation rate dropped from over 1,000% to less than 20% in just a couple of years.

One of the most basic problems with Milei’s plan is that Argentina doesn’t have the Dollars it would need to dollarize its economy right now. Analysts say that the country’s Central Bank has negative net foreign exchange funds. This means that it owes more money in foreign currencies than it has.

Emilio Ocampo, an economist and historian who is helping Milei, says that the lack of Dollars is more of a show than a real problem.

“Argentines have more than $200 billion in bills hidden in bank safe deposit boxes or under the mattress at home,” Ocampo wrote not long ago.

Even though Javier Milei has a lot of Dollars on hand, most experts think that his plan would only work if his government borrowed a lot of Dollars from other countries.

Milei told the Economist, “If someone comes and gives me the $30 billion in cash, I can fix it in one day. I won’t be able to solve it in one day if they don’t give me the $30 billion cash.”

How could Milei get the money he needs? The International Monetary Fund and Argentina already owe a total of over $40 billion, with most of that money coming from Macri’s presidency. So, at best, it looks like a long shot that the Washington-based lender will agree to fund the plan to make the Dollar the official currency.

China has also given Argentina a lot of hard cash, but Javier Milei wants to build a bridge between Argentina, the US and Israel. He also says he has thought about becoming a Jew from a Roman Catholic.

As Cavallo’s Dollar peg was still in place in the late 1990s, the value of the Dollar (and, by extension, the Peso) rose sharply. This made Argentina’s products less competitive on world markets. The economy fell into a deep slump, and money began to leave the country.

When Cavallo came back to power in 2001, capital flight sped up. Eventually, he told banks to limit cash transfers. Riots happened in Buenos Aires and other places in December 2001. Cavallo quit his job. He did the same thing as President Fernando de la Rúa. Later, Argentina stopped paying its debts and finally gave up the currency peg.

In the decades after the First World War, when they insisted on bringing back the gold standard of the 1800s, many Western countries learnt this lesson. Even though rigid monetary systems may work well to stop inflation, they make it harder for countries to deal with economic shocks from inside and outside the country. When Argentina fully adopts the Dollar, it will lose its Central Bank, which is a lender of the last option. This will make the country’s financial system even more fragile.

“Dollarisation is a potentially dangerous ‘no exit’ strategy,” wrote Mark Sobel in an article about Milei’s plans. Sobel used to be a top official at the US Treasury Department and a US representative at the IMF.

The article says, “It could set the stage for a big contraction and crash while taking attention away from the hard work of fixing the economy.”

A progressive think tank in Washington has a specialist in Latin America named Mark Weisbrot. He wrote that even though Argentina had serious economic problems, “a crazed, economically suicidal approach would only make things worse—and as Argentina has experienced, things can get a lot worse.”

According to Michael Stott, the Latin America editor of the Financial Times, Milei’s plan to make all money in Dollars is unlikely to be implemented in the short term. This is because Milei lacks support in the government for many of his ideas. Therefore, it remains to be seen whether or not his plan will come to fruition.

Will someone like Javier Milei, who ran for office with a chainsaw, submit to the leaders he has called ‘thieves”’? This man told The Economist that if the government doesn’t agree with his plans, “then we plan to go to referendums for structural changes that we consider fundamental.” It looks like Milei won’t easily change his mind about his bold plans.

The post The rise of ‘anarcho-capitalist’ Javier Milei appeared first on International Finance.

Through this partnership, MailAmericas will contribute its market expertise and the knowledge it has gained in the regions of Latin America and Africa, where it has networks in over 40 countries. At the same time, Ethiopian Airlines will offer air transport service for carrying goods across its extensive network.

CEO of Ethiopian Group Mesfin Tasew stated, “We are pleased to collaborate with MailAmericas in the launch of eCommerce logistics services across Africa and Latin America as the premier air cargo service provider in Africa. Together, we have provided services to more than 20 nations in Africa and Latin America thus far, and we are eager to continue extending our reach. In addition, we can better serve our clients through cooperation by utilizing MailAmericas’ knowledge, bilateral agreements, and private networks.”

According to Tomas Miguens, President of MailAmericas, “We are happy to tie up with Ethiopian Airlines Group and expand our horizon into Africa’s area. As one of the major service providers of Cross Border E-Commerce in Latin America and has served the area for over 25 years, our subsidiary Mailafrica has given us substantial expertise. It gives us great pleasure to collaborate with the top airline in Africa. Every consumer will benefit from a better shopping experience thanks to faster delivery and better package tracking. To continue our profitable engagement with Ethiopian Airlines Group, we will constantly try to expand it and create new ventures.”

Ethiopian Airlines will be given access to all bilateral agreements and private networks of MailAmericas through the cooperation, allowing it to provide consumers in Africa, Latin America, Europe, the Middle East, and other parts of the world with competitive services.

Ethiopia is constructing a 150,000-ton-per-year e-commerce hub in Addis Ababa to expand its e-commerce logistics capabilities and service. To enable the efficient handling of goods ranging from small packages to boxes, skids, and built-up units, the e-commerce centre will also be furnished with an automatic sortation system and electronic transport vehicles (ETV) (BUPs).

The 2020–2021 fiscal year saw an annual freight uplift of around 770,000 tons for Ethiopian Cargo & Logistics Services, a significant global cargo network operator with a sophisticated warehouse able to accommodate one million tons annually.

With 66 specific cargo destinations in Africa, the Middle East, Asia, Europe, and the Americas, as well as 14 specialized freighters, it services more than 130 foreign locations. With 100% e-AWB from its primary hub in Addis Ababa, Ethiopian Cargo & Logistics Services also uses the most recent technology for data, information, and market intelligence.

The airline is also planning to become a Star Alliance member, in order to compete with Gulf rivals that are strong in connecting passengers between Asia, the Americas, and Europe.

As Africa’s largest airline, Ethiopian’s fleet size is expected to grow from its current count of 140 to more than 271 aircraft by 2035, operating in over 200 routes globally and carrying 65 million passengers annually.

Flights from Atlanta (ATL) to Bole International Airport in Addis Ababa (ADD) are slated to begin May 16, 2023. The rotation will run four times weekly, with a fueling stop in Dublin, Ireland, on the outbound journey and flying non-stop on the return to Atlanta.

Ethiopian Airlines also serves the North American cities of Chicago O’Hare (ORD), Toronto Pearson (YYZ), Washington Dulles (IAD), and New York (JFK).

Service to Denmark’s capital Copenhagen from Addis Ababa will also start in May this year after a 10-year hiatus. A non-stop from Addis Ababa to Singapore will be relaunched in March, 2023 after ceasing in 2017. The carrier will also resume its pre-pandemic services to China in March, one of the few international carriers to do so since China re-opened its borders in January 2023.

Ethiopian Airlines is also eyeing to compete with Emirates and Qatar Airways, thus setting courses for rapid expansion into Africa. Qatar Airways has already invested in the new airport in Rwanda’s capital Kigali and will be aiming to have tie-ups with RwandAir.

Kenya Airways and South African Airways are also making similar moves. The two carriers, which have code-sharing and shared lounge accesses, are working towards forming a new pan-African partnership.

The post E-commerce, new flights: Ethiopian Airlines increases global footprint appeared first on International Finance.

It was reported that the spectrum in the 700MHz, 2.3GHz and 3.5GHz bands will be made available in the auction alongside 26GHz millimetre wave (mmWave) spectrum. On November 4th, the Special Bidding Commission (Comissao Especial de Licitacao, CEL) is set to review the regulator’s price recommendations for the auction.

Abraao Balbino, chief of telecoms regulator Anatel, revealed that the 5G spectrum auction could raise up to $538.60 million if all available frequencies are sold. The regulator approved the general rules for Brazil’s fifth-generation mobile spectrum auction in the month of September.

It was earlier reported that Brazilian cities with 500,000 plus populations will see 5G rolled by July 31, 2025, whereas, the deadline for locations with more than 200,000 inhabitants is July 31, 2026.

Brazilian telecom firm TIM chief executive Pietro Labriola recently announced that they plan on investing $390 million. This investment is keeping aside the outlays for the 5G auction.

Earlier this year, the telco released a guidance report that highlighted its expenditure during the 2021-2023 period which is expected to reach 13 billion reais.

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The field was discovered by Petrobras in 2003 and according to the company, the estimated stock tank original oil-in-place (STOOIP) is up to 993.82 MM oil boe.

The idea of privatising Petrobras is being considered by the Brazilian government. Recently, Brazil’s President Jair Bolsonaro said during a radio interview, “This is on our radar. But privatising a company is not just putting it on a shelf and whoever offers the highest bid takes it, it is very complicated.”

It was the second time that Bolsonaro was discussing the same. After Jair Bolsonaro’s comments on privatisation of Petrobras, the company saw its stock price rise.

Earlier this month, Bolsonaro told a local radio station, “I want to privatise Petrobras, yes, I do. I shall see together with the economic team what we can do.”

Recently, Brazil’s Minister of the Economy Paulo Guedes also revealed that the Jair Bolsonaro led administration will privatise Petrobras within a decade.

He told the media, “What is the plan for the next 10 years? Continue with the privatisations. Petrobras, Banco do Brasil, everyone getting in line, getting sold and transforming into social dividends.”

The post Petrobras mulls selling 100% stake in the Catua Field, in the Campos Basin appeared first on International Finance.

Bolsonaro told a local radio station, “I want to privatise Petrobras, yes, I do. I shall see together with the economic team what we can do.”

Recently, Brazil’s Minister of the Economy Paulo Guedes also revealed that the Jair Bolsonaro led administration will privatise Petrobras within a decade.

He told the media, “What is the plan for the next 10 years? Continue with the privatisations. Petrobras, Banco do Brasil, everyone getting in line, getting sold and transforming into social dividends.”

In June, it was reported that Petrobras is planning to sell its 27.88 percent stake in the Deten Quimica SA petrochemical complex. The firm has already begun the sale process for the petrochemical complex, which is located in the northeastern state of Bahia.

During the same period, Petrobras also revealed that it is offering to buy up to $2.5 billion in global notes maturing between 2025 and 2050. The company said in a statement that it will issue new global notes maturing in 2051. However, the company did not elaborate further in this regard.

In August, Petrobras extended the deadline to sign sales contracts for its refineries. This was the second time Petrobras extended the deadline mainly due to delays caused to site visits by the ongoing coronavirus pandemic.

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SoftBank said in a statement that Fund II will explore options to raise additional capital. The company launched the initial fund in 2019, which was called Innovation Fund with an initial $2 billion in committed capital, however, later the name was changed to Latin America Fund.

So far, SoftBank has invested in companies in Brazil, Mexico, Chile, Colombia and Argentina. It has invested in startups such as QuintoAndar, Rappi, Mercado Bitcoin, Gympass and MadeiraMadeira.

Recently, SoftBank announced that it has added two new managing partners to its LatAm Fund team. Both Rodrigo Baer and Marco Camhaji will focus on identifying and supporting early-stage companies across the region, media reports said.

In a statement, SoftBank Chairman and chief executive Masayoshi Son said, “SoftBank will continue to drive technology adoption that will benefit hundreds of millions of people in this part of the world.”

“There is so much innovation and disruption taking place in Latin America, and I believe the business opportunities there have never been stronger. Latin America is a critical part of our strategy – this is why we are expanding our presence and doubling down on our commitment with Marcelo at the helm.”

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