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Latest Releases

April 09, 2015
Obama Administration Downgrades Supposed Threats Posed by Cuba, Venezuela Ahead of Summit of the Americas
The Obama administration is attempting to “salvage the Summit of the Americas” and avert another summit disaster by removing Cuba from its list of “state sponsors of terrorism,” Center for Economic and Policy Research (CEPR) Co-Director Mark Weisbrot said today. This latest sign of a softening of U.S. policy toward Cuba “falls far short” of the change in relations that had been a U.S. goal before the summit: the reopening of embassies. Obama’s announcement is expected to come as early as tomorrow.

April 07, 2015
Jamaica Suffering from “Most Austere Budget in the World,” Imposed by the IMF, New Paper Finds
Ahead of President Obama’s trip to Jamaica this week, a new paper from the Center for Economic and Policy Research (CEPR) finds that Jamaica is running the most austere budget in the world, with a primary surplus of 7.5 percent, due to its IMF agreement, and that the government’s interest payments on the debt and austerity have brought public investment to a low. The paper, “Partners in Austerity: Jamaica, the United States and the International Monetary Fund” by Jake Johnston, notes that Jamaica has a debt-to-GDP ratio of nearly 140 percent and its public interest burden is one of the very highest in the world, at over 8 percent of GDP last year.

March 18, 2015
Election of Luis Almagro as New OAS Secretary General Represents “Declining US Influence in Latin America,” CEPR Co-Director Says
Today’s election of Luis Almagro as the new Secretary General of the Organization of American States (OAS) is “another indication of declining U.S. influence in Latin America,” Center for Economic and Policy Research Co-Director Mark Weisbrot said today. As foreign minister of Uruguay from 2010—2015, Almagro was involved in strengthening regional integration through organizations such as the Union of South American Nations and the Community of Latin American and Caribbean States. Almagro finished the race unopposed, but he previously had been running against the former foreign minister of Guatemala, Eduardo Stein. Stein received the backing of countries such as Honduras, Panama and the Dominican Republic prior to withdrawing his candidacy, while Almagro received strong support from South American nations, including Colombia.

March 06, 2015
Raising Interest Rates could have an Adverse Effect on Federal and State Budgets
A new report from the Center for Economic and Policy Research (CEPR) points out, though, that if the Fed were to raise e rates and keep unemployment from falling further, it would have a substantially negative impact on the budget.

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