CUBA’S FIDEL CASTRO DIES & THE WORLD REACTS!!!!!!!!!!!!!!!!!!!!!!

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By: Economic & Finance Report

The world has reacted to the death of Fidel Alejandro Castro Ruz.

Friday evening into Saturday, world leaders, people around the world, Cubans and Cuban Americans gave their own interpretations and reactions to the man who ruled Cuba for close to 50 years, Fidel Castro. -SB

VENEZUELA IS INTENDING TO EXPAND INTO THE CARIBE…….

Venezuela-Caribe islands

By: Economic & Finance Report

Venezuela’s Foreign Trade Minister has indicated that Venezuela would expands its outreach into the Caribbean islands. Jesus Farias (Foreign Trade Minister of Venezuela) indicated that the south American oil exporter was seeking to diversify its economy, and drive more economic and investment presence in the caribe isles.

Venezuela will focus in the dutch territory of Bonaire first and perhaps expand its outreach to other islands as far as economic investments. Mr. Farias stated that it was very important to have foreign trade and foreign investments in the Caribbean as a means for Venezuela to broaden its trading capacity regionally and internationally. -SB

LATIN AMERICA TO CONTRACT IN 2016!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

latin america economy

By: Economic & Finance Report

Latin America will contract this year, about -0.6% according to the The Economic Commission for Latin America and the Caribbean (ECLAC).  Some Latin American countries in the region are either heading to a recession or are already in a recession.

 There has be slow growth rate recorded in some countries within the region, and the slow development of China and other emerging markets have not made it easier for Latin America to do substantial trading, without the growth of Latin America’s trading partners such as China, it makes it hard for Latin America to export and generate revenue from sales of goods and products.  Much of South America trades commodities with China, and this variable definitely provides the contraction period to extend throughout the whole year of 2016.

In Central America, economies are seeing a decline of -1.9% from the previous year, which was 4.3% (2015) and it is currently 3.9% (2016), according from the data reported from (ECLAC).

The Latin Caribbean countries reported growth of 0.9% from the previous year in 2015 (ECLAC). -SB

ECONOMIC DEVELOPMENT IN DOMINICAN REPUBLIC, MAKES IT A LEADER IN CARIBE & LATIN AMERICA!!!!!!!!!!!!

 

dominican-republic

By: Economic & Finance Report

Dominican Republic economic development is booming and the island/country has alot to be proud of in its economic accomplishments.  Tourism has played a key factor in Dominican Republic’s emergence and dominance.  The last couple years the island has seen a 7% percent increase in its GDP. 

Dominican Republic’s GDP figures show an evasive increase in industries such as construction, tourism,  hospitality, and banking.  Revenue coming into Dominican Republic has topped $23 billion and much of that has to be accounted from foreign investors who are heavily pouring in capital to this progressive country.  

 Economic and financial hardships still plaque this diverse island, just like many other countries, such as economic and employment and less increases for wages for private employees and government employees, still Dominican Republic are making progresses by putting in place tools and structures to help everday dominicanos and dominicanas respectively. -SB

POWER COMPANY ASSOCIATION INDICATES DOMINICAN REPUBLIC OWES THEM $800 MILLION FOR POWER SUPPLY USAGE..

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By: Economic & Finance Report

The Dominican Electricity Industry Association (ADIE) has specified to the Dominican Republic that it is owed $800 million dollars for power supply usage at national electrical plants  and facilities. The association has indicated that the government owes power supply producers the vast of the $800 million due. They have threatened to cut of power and electricity on the island if the money is not soon to be repaid.

 Govt analyst believe a sure blackout could occur, and would put a halt on the activities and largely effect the economy in DR. The government in DR has not paid the power suppliers for more then eight months, and the association does not want to extend anymore credit or “produce anymore lifelines for the country”, until they are fully paid.

So far government officials have not come with any solution on how to finance nor start repaying the power suppliers. -SB