According to Economy Minister Alex Contreras, Peru’s government has allocated approximately 4,000 million soles (US$1.1 billion) in preparation for the anticipated coastal El Niño phenomenon expected later this year, possibly increasing the budget to 5,000 million soles. A previous occurrence of El Niño in May caused a 1.4% drop in Peru’s GDP, and there remains […]
Related Posts
Ukraine’s Grain Exports Surge in 2024/25 Despite Challenges
Ukraine’s grain exports for the 2024/25 marketing year (July-June) have reached 11.2 million tonnes as of October 7, 2024, surpassing the approximately 7.2 million tonnes recorded during the same period in the previous season. This increase demonstrates Ukraine’s resilience in maintaining its position as a major global grain exporter despite ongoing challenges. Export Breakdown The […]
Colombia’s Ecopetrol Grapples with Soaring Costs During Energy Shift
In 2023, Ecopetrol faced an 18.5% hike in oil production costs, even as it pivoted towards renewable energy. This shift signifies Ecopetrol’s evolution from oil production to a broader energy focus. Concurrently, its oil output climbed 4% to 737,000 barrels daily, marking an eight-year peak. The cost per barrel surged to $10.91 from $9.21, a […]
FARC Faction Halts Attacks in Colombia, Eyes Peace Talks
On Friday, a FARC splinter group, known as the Central General Staff (CGS), announced a ceasefire. They issued a statement soon after a car bombing in Jamundí injured ten people. President Gustavo Petro and Defense Minister Iván Velásquez strongly condemned the attack. The CGS directed its units to stop all hostilities against national security forces. […]