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Peruvian President “Has Nothing to Do” with Odebrecht Corruption, Minister Claims

By: Karina Martín - Jan 11, 2017, 2:37 pm
Odebrecht Corruption
Peruvian Minister of Economy and Finance Alfredo Thorne said Peru has nothing to with Odebrecht. ( entorno inteligente)

EspañolPeruvian Minister of Economy and Finance Alfredo Thorne said the Peruvian government had nothing to do with the Brazilian company Odebrecht.

“Why is Odebrecht a headache for this government?” Thorne asked. “We have nothing to do with Odebrecht.”

“We have never given a contract, we have not even designed a contract,” he said. “We are changing the contracting laws so that there are no cases like Odebrecht.”

The Minister also said officials are working with the prosecution and the procurator’s office to investigate corruption involving Odebrecht.

“This is not the responsibility of the executive but of the prosecution,” he said. “We are giving them facilities, something that has not been done in the past.”

He added that Odebrechy will be held responsible if any corruption is discovered, and will have to admit that it particiapted in that corruption.

Thorne also stated that Odebrecht will not be charged for the sale of its stake in the Peruvian Gas Pipeline project, and said that the money obtained as part of its participation in the work will go to a fund that guarantees an eventual indemnification in favor of the state.

“Odebrecht, if it sells, would not charged for its share of the southern pipeline,” he said. “That money becomes a guarantee in case of corruption events. The money that would be collected would go to a guarantee and that guarantees that Odebrecht is charged in cases of corruption.”

Sources: El Comercio; La República.

Karina Martín Karina Martín

Karina Martín is a Venezuelan reporter with the PanAm Post based in Valencia. She holds a bachelor's degree in Modern Languages from the Arturo Michelena University.

World Bank Forecast Undermines Argentina’s Ambitious Growth Predictions

By: Raquel García - @venturaG79 - Jan 11, 2017, 2:26 pm
bancomundial-11enero

EspañolIn its biannual "World Economic Outlook" report, the World Bank predicted that Argentina's GDP will grow by 2.7 percent in 2017, in contrast to the 3.1 percent that it projected for the previous six months. It also falls short of the 2017 budget submitted by Mauricio Macri's administration to Congress, which included 3.5 percent GDP growth. The World Bank also reportedly forecast GDP growth of 3.2 percent in both 2018 and 2019. The forecast of 2.7 percent for this year coincides with the forecast for world GDP growth, adjusted downward by one tenth as a result of a reported growing uncertainty surrounding the economic policies carried out by US President-elect Donald Trump. According to estimates by the World Bank, Argentina's growth forecasts for 2017-2019 exceed those of Brazil and Mexico, which this year are at 0.5 and 1.8 percent, respectively. "South America saw a sharper recession in 2016 than in 2015, but is nevertheless expected to rebound in 2017," the report said. World Bank officials stressed that the new administration in Argentina and Brazil "seem focused on correcting fiscal and macroeconomic imbalances." "The implementation of pro-market reforms that create a favorable business environment and the settlement of Argentina with its creditors were favorable events that improved the perception of investors," the report said. The agency warned that policy changes in the United States and in Europe, such as trade restrictions or migration, "could have lasting repercussions in the region." googletag.cmd.push(function() { googletag.display('div-gpt-ad-1459522593195-0'); });   "A slower recovery than expected in commodity prices would undermine the prospects of the countries in the region that export these commodities," the report said. Earlier this week, a Morgan Stanley report praised Argentina's growth potential and long-term investment opportunities, which it said could be as high as $60 billion over the next five years. Argentina will not only normalize its economy in the next five years, the bank said, but also increase sustained economic growth in the long term. Source: Fortuna.

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