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Weekly Report - 10 September 2015 (WR-15-36)

REGION: Budget season, with austerity the watchword

It is budget season and in Ecuador and Colombia finance ministries are drawing red lines through all non-essential expenditure, as oil export earnings look set to remain weak next year. In Peru, however, where a general election is due in April, the unpopular government led by President Ollanta Humala has the luxury of being able to dip into accumulated savings, allowing for a pre-electoral spending boost. Unfortunately for Humala, that is unlikely to do much for the fortunes of his leftist political party, expected to be turfed out of office in next April’s elections.

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