Latest news with #Alfaro
Canada Standard
a day ago
- Sport
- Canada Standard
Paraguay has 'nothing to lose' against Brazil: Alfaro
Xinhua 09 Jun 2025, 08:46 GMT+10 SAO PAULO, June 8 (Xinhua) -- Paraguay manager Gustavo Alfaro said Sunday that his side will approach its crucial World Cup qualifier against Brazil with the belief that a place on the sport's grandest stage is within reach. Paraguay, which last featured at the World Cup in 2010, is third in the 10-team South American group with 24 points, two ahead of fourth-placed Brazil. The top six teams will qualify directly for next year's showpiece in the United States, Mexico and Canada while the seventh-ranked side will earn a playoff spot. "These are the kinds of matches in which we have everything to win and nothing to lose," Alfaro said ahead of Tuesday's clash at Corinthians Arena in Sao Paulo. "Brazil is always a difficult opponent but at the same time we know that if we win we could get the outcome that we've been striving for. It's a dream that has been put on hold for 15 years," he added. Paraguay is unbeaten in nine games since Alfaro replaced Daniel Garnero as manager last August. While accepting that Brazil would pose a stern test under new head coach Carlo Ancelotti, the Argentine expressed confidence that his team had the mindset to overcome the five-time world champions. "I have no doubt that our attitude is what stands us apart and that we can maintain the same determined approach in every game we play," he said.
Associated Press
6 days ago
- Business
- Associated Press
Laura Alfaro Joins the Inter-American Development Bank as New Chief Economist and Economic Counselor
WASHINGTON, June 4, 2025 /PRNewswire/ -- The Inter-American Development Bank (IDB) has appointed Laura Alfaro as Chief Economist and Economic Counselor following a competitive selection process. Ms. Alfaro brings to the Bank extensive economic research and public policy expertise in Latin America and the Caribbean. The appointment strengthens the IDB's Research Department as a leading voice on the region's most pressing challenges—including productivity and competitiveness, private sector led growth, technology and AI, public sector efficiency and fiscal sustainability, financial inclusion and innovations, resilience, and energy supply, poverty, and inequality, among others. The department will contribute to implement the IDBImpact+ vision, embedding economic analysis more directly into operations, policy, and strategy. 'We are very happy with Laura's appointment which coincides with the implementation phase of IDBImpact+, a new chapter for our research department at the IDB group,' said IDB President Ilan Goldfajn. 'Research and knowledge are at the center of our strategy—that strives to shape the public debate and embed the research with our operations to concretely serve the region in our joint priorities.' 'It is an honor and a great joy to join the Inter-American Development Bank as Chief Economist and Economic Counselor. Knowledge only makes sense when it becomes impact. Today, more than ever, our region needs bold ideas, rigorous analysis, and genuine collaboration to turn data into decisions that improve lives. I look forward to working alongside an extraordinary team to contribute to that purpose at this turning point for our region,' said Alfaro. Ms. Alfaro joined the Bank on June 1, 2025. She was previously a Professor of Business Administration at Harvard Business School and served as Minister of National Planning and Economic Policy in Costa Rica from 2010 to 2012. A dual citizen of the United States and Costa Rica, she holds a Ph.D. in Economics from UCLA, and degrees from the Universidad de Costa Rica and the Pontificia Universidad Católica de Chile. About the IDB The Inter-American Development Bank (IDB) is devoted to improving lives across Latin America and the Caribbean. Founded in 1959, the IDB works with the region's public sector to design and enable impactful, innovative solutions for sustainable and inclusive development. Leveraging financing, technical expertise and knowledge, it promotes growth and well-being in 26 countries. Press contact: Rafael Mathus [email protected] +1 (202) 623-1040 View original content to download multimedia: SOURCE Inter-American Development Bank (IDB) Group
Mint
6 days ago
- Business
- Mint
Andy Mukherjee: Importers hit by Trump tariffs could turn to ‘glocal banks'
The optimism around US President Donald Trump's promise of a 'total reset" in relations with Beijing is fading fast; and that's a worrying omen for US importers. For many, the urgency to look outside China for new suppliers is greater than it was during Trump 1.0. The peak US tariff on Chinese goods during Trump's first term was 21%; it is 51% now. Besides, there was a workaround back then. A lot of Chinese-made consumer goods entered America via an exemption from tariffs for parcels below $800 in value. That cushioned the blow. Also Read: Trump's tariffs: Turfed out but raring to return The actual drop in imports from Beijing may have been a lot lower than the 17% plunge captured in the 2019 US statistics. In the present conflict, though, even small-value items shipped from China or Hong Kong are being taxed at 54%. While that's down from the 120% tariff at the peak of trade hostility, the 12 May truce is looking wobbly, with Trump accusing Beijing of violating its terms. If they haven't already done so, now is the time for importers to call their bankers. A certain kind of lender can be an useful ally during a trade war, as a new study by Harvard University professor Laura Alfaro, together with economists from the Federal Reserve Bank of Atlanta and International Monetary Fund, shows. By tracking supplier relationships with maritime trade data and mapping them against corporate loan information that banks report to the Fed, the researchers estimate that an average US importer, facing Trump's 2018-19 tariffs, shelled out $1.9 million—or 5% of annual sales—to get matched to a new Asian supplier. Also Read: A trade arrangement that leaves out the US could trump Trump's tariffs The expensive process forced importers to draw down on existing credit lines and take out new loans. This is where US lenders with expertise in Asian trade finance were of help. 'Tariff-hit firms with specialized banks borrowed at lower rates and were 15 percentage points more likely and three months faster to establish new supplier relationships than firms with other banks," the authors conclude. In other words, those importers that had access to trade-finance specialists benefitted not only from cheaper credit, but also from information about supplier networks. Alfaro and her colleagues don't say which banks did the heavy lifting. The Fed's corporate loan data, known as Y14, is not in the public domain. But it's not hard to make an educated guess. Citigroup, JPMorgan Chase, Bank of America and their British and European peers, such as HSBC Holdings, Standard Chartered and BNP Paribas , have long histories of financing international trade. In Asian banking circles, some of them are known as 'glocals,' or global banks with sophisticated local knowledge. The experience they have gained by financing the region's exports is both valuable and specific. As Alfaro's study shows, 'relationships with banks specialized in Europe (not Asia) have no effect on credit or trade outcomes for firms searching for suppliers in Asia." Also Read: Tariff whiplash: The US truce with China offers hollow relief Now, more than ever, US importers need to be mindful of their banks' geographical footprint, even though the uncertainty around where to search for new partners is large enough to cripple decision-making. Five years ago, China bore the brunt of customs duties; American taxes on the rest of the world were a manageable 3%. They're approaching 16% now. The threat of much larger reciprocal tariffs is looming over both rivals and allies. The electronics supply chain is fearful because Trump has vowed punitive duties on Apple and Samsung if they assembled devices sold in the US anywhere overseas—not just China. The auto industry is caught up in Beijing's export restrictions on rare-earth magnets, a tit-for-tat against Trump's tariffs. Also Read: Think ahead: India's electronics manufacturing must go up the value curve Still, business owners can't sit idle. Even if the current magnet crunch ends soon, they still have to explore Malaysia and India as potential alternatives—just in case the truce between Washington and Beijing collapses. Vietnamese and Cambodian factories may expand to fill orders for everything from Nike shoes to Lululemon Athletica clothing. In markets where trade-finance specialists don't have a presence, they acquire knowledge about local firms via a so-called network effect. According to Alfaro and her colleagues, borrowers have a higher chance of being matched with suppliers in countries where their lenders have correspondent-banking arrangements—or have previously participated in syndicated loan deals. Trade finance is not just about lubricating cross-border commerce with money; it's also about keeping business intelligence flowing. For importers caught up in a tumultuous global conflict, a call to their bankers is a good starting point. ©Bloomberg The author is a Bloomberg Opinion columnist covering industrial companies and financial services in Asia.
Yahoo
20-05-2025
- Politics
- Yahoo
Mother of arrested Salvadoran lawyer says daughter is innocent and calls for her release
SAN SALVADOR, El Salvador (AP) — The mother of a human rights lawyer arrested in El Salvador said Tuesday she was able to see and speak with her daughter more than 24 hours after her arrest and declared her daughter's innocence in what critics say was government retaliation for her work. Eleonora Alfaro spoke after visiting Ruth Eleonora López, the head of the anti-corruption team at nongovernmental organization Cristosal. Police arrested López Sunday night alleging she participated in the embezzlement of funds when she held a government position earlier in her career. Cristosal has been one of the most outspoken critics of some of President Nayib Bukele's policies, especially the ongoing three-year state of emergency. 'My daughter is completely innocent, she has nothing to do with it,' Alfaro said. 'She knows where this comes from and I do too.' She called on Bukele to order her daughter's release. 'He has ordered my daughter's arrest, because she has at times expressed criticism in favor of the people in and in favor of all Salvadoran society,' she said. Alfaro added that police treated her respectfully when she visited and that her daughter was in good health. Bukele's office has not commented on the arrest. The alleged wrongdoing dates to her time as an adviser to Eugenio Chicas, the former president of the Supreme Electoral Tribunal during the administration of President Salvador Sánchez Cerén (2014-2019). Chicas moved from the court to the Cabinet of Sánchez Cerén and also served as a congressman. Last November, he and some of his relatives were convicted in a civil case for illegal enrichment between 2009 and 2021. Chicas, who was detained in February, is now being prosecuted on criminal charges of illegal enrichment. The Attorney General's Office alleged that López had been involved in Chicas' embezzlement. Cristosal President Noah Bullock said Tuesday that López's arrest was an 'attack against the entire human rights movement.' ____ Follow AP's coverage of Latin America and the Caribbean at
Winnipeg Free Press
20-05-2025
- Politics
- Winnipeg Free Press
Mother of arrested Salvadoran lawyer says daughter is innocent and calls for her release
SAN SALVADOR, El Salvador (AP) — The mother of a human rights lawyer arrested in El Salvador said Tuesday she was able to see and speak with her daughter more than 24 hours after her arrest and declared her daughter's innocence in what critics say was government retaliation for her work. Eleonora Alfaro spoke after visiting Ruth Eleonora López, the head of the anti-corruption team at nongovernmental organization Cristosal. Police arrested López Sunday night alleging she participated in the embezzlement of funds when she held a government position earlier in her career. Cristosal has been one of the most outspoken critics of some of President Nayib Bukele's policies, especially the ongoing three-year state of emergency. 'My daughter is completely innocent, she has nothing to do with it,' Alfaro said. 'She knows where this comes from and I do too.' She called on Bukele to order her daughter's release. 'He has ordered my daughter's arrest, because she has at times expressed criticism in favor of the people in and in favor of all Salvadoran society,' she said. Alfaro added that police treated her respectfully when she visited and that her daughter was in good health. Bukele's office has not commented on the arrest. The alleged wrongdoing dates to her time as an adviser to Eugenio Chicas, the former president of the Supreme Electoral Tribunal during the administration of President Salvador Sánchez Cerén (2014-2019). Chicas moved from the court to the Cabinet of Sánchez Cerén and also served as a congressman. Last November, he and some of his relatives were convicted in a civil case for illegal enrichment between 2009 and 2021. Chicas, who was detained in February, is now being prosecuted on criminal charges of illegal enrichment. The Attorney General's Office alleged that López had been involved in Chicas' embezzlement. Cristosal President Noah Bullock said Tuesday that López's arrest was an 'attack against the entire human rights movement.' ____ Follow AP's coverage of Latin America and the Caribbean at
