![](https://images.ecency.com/DQmSG5Vz1tEETfQCeB1pQdefMdA2fF7skBZMyMRMAdCvn1V/img_0.20337066423173666.jpg) _{Edited with [Canva](https://www.canva.com/design/DAFgkqAiUvY/Ne9aNPAgKArxrv9yrCR1IA/edit?utm_content=DAFgkqAiUvY&utm_campaign=designshare&utm_medium=link2&utm_source=sharebutton).} ## Venezuela Once again, **Washington**'s shadow is over the growth options of countries with which it is at the antipodes, in this case frustrating the Venezuelan government's possibility of accessing hard-needed [**currency**](https://leofinance.io/@leoglossary/leoglossary-currency) from the joint exploitation —with **Trinidad and Tobago**— of a gas field with vast reserves, located on the Venezuelan side of the bilateral maritime border. Since January, OFAC "[facilitated](https://www.reuters.com/article/trinidad-venezuela-gas-idAFL1N3492JC)" a license to **Port of Spain** to resume negotiations with **Caracas** in pursuit of the ambitious project, with which the Caribbean nation expects to boost its liquified natural gas production industry —in decline due to the lack of the critical raw material—, while cash-stripped Miraflores would have access to a new source of foreign currency.
![](https://images.ecency.com/DQmfErgsy3Lddoo7VzFHcw7RLS2XWQ2NR3mE3vLEdfTvbvy/img_0.674495375212171.jpg) _{A view from the Dragón gas field ([source](https://twitter.com/venanalysis/status/1619852224791973888)).} But it is precisely this last option that the Biden team is blocking, forcing the payment not to be in [**dollars**](https://leofinance.io/@leoglossary/leoglossary-u-s-dollar) or in any other hard currency, but in food or other products, what since the issuance of the license was [strongly rejected](https://www.reuters.com/world/americas/venezuelas-maduro-complains-about-us-cash-less-authorizations-2023-02-03/) by Maduro. It is nonsense to allow to negotiate with **PDVSA**, the state-owned [**oil**](https://leofinance.io/posts/@leoglossary/leoglossary-oil) company, and at the same time prohibit something basic: that the Government benefits directly from the resources it sovereignly administers, regardless of its political color. In any case, *Pennsylvania Avenue* is trying to sell the limited license as a boost to negotiations with the opposition.
## Finance Between tomorrow and next week, the **[central banks](https://leofinance.io/@leoglossary/leoglossary-central-bank)** of at least two of the region's main **[economies](https://leofinance.io/posts/@leoglossary/leoglossary-economy)** are expected to start reducing benchmark **[interest rates](https://leofinance.io/@leoglossary/leoglossary-interest-rate)**, in response to a better performance in terms of **[inflation](https://leofinance.io/@leoglossary/leoglossary-inflation)** and other critical variables. Chilean **[market](https://leofinance.io/posts/@leoglossary/leoglossary-market)** agents are betting that this Friday the national monetary authority will reduce the reference interest rate —stable since the last quarter of 2022— by 75 basis points, though according to information [gathered by Reuters](https://www.lanacion.com.ar/agencias/analisis-chile-iniciara-proceso-de-recortes-de-tasa-referencial-pero-mantendra-cautela-nid27072023/), some believe that the adjustment could be more "aggressive".
![](https://images.ecency.com/DQmVPiVSkxUXgqGa2p4YzyeR9jbNzmAsNKqfFPuraneVQvG/img_0.2137251648147021.jpg) _{Chilean central bank´s headquarters ([source](https://twitter.com/bcentralchile/status/1683459348142473216)).} The core inflation data will be important, according to one expert, to confirm the downward trend in **[prices](https://leofinance.io/posts/@leoglossary/leoglossary-price)**, and would determine to some extent the pace at which further reductions would occur, with another expert even projecting that the Chilean central bank will be the most aggressive in this dynamic of potential cuts than any other linked to emerging markets. These positive winds —still threatened by the war in **Ukraine** and its impact on the prices of strategic items— are pushing the local [**stock market**](https://leofinance.io/posts/@leoglossary/leoglossary-exchange) forward recently, which managed to cross the 6,000-point barrier in mid-July.
### Brazil On the other hand, in Brazil, the good financial news are coming one after another for the **Lula da Silva** administration, with the country being [upgraded](https://www.fitchratings.com/research/sovereigns/fitch-upgrades-brazil-to-bb-outlook-stable-26-07-2023) to the "BB" category by **[Fitch Ratings](https://www.fitchratings.com/products/rating-definitions#ratings-scales)**, in a sort of blessing to its planned new fiscal framework. We have already commented here on how local market operators see positive governmental management in this area, especially from their assessment of the specific work of the Minister of **[Finance](https://leofinance.io/posts/@leoglossary/leoglossary-finance)**, **Fernando Haddad**. Fears about the return of the old unionist leader to power seem to have been allayed in the expectation that a pragmatic approach will prevail. Among the notes that could cast a shadow over the position now held by the South American giant is the high level of government indebtedness, as well as its "fiscal rigidity". Haddad recently [stated](https://www.lanacion.com.ar/agencias/ministro-de-hacienda-brasileno-espera-que-tasa-de-interes-baje-quotal-menosquot-al-12-a-fin-de-ano-nid26072023/) that he expects the interest rate to fall to at least 12% by the end of the year, considering that it would be a bad sign for the main monetary authority not to respond to market sentiment. An initial cut in the neighborhood of 50 basis points is expected at next week's meeting.
https://twitter.com/economics/status/1684225795328290816

### How markets closed today? With the exception of the Peruvian sol and the Colombian peso, the rest of the currencies that make up the basket of six that decide the regional financial drift [closed in the red](https://www.lanacion.com.ar/agencias/mercados-alatina-monedas-y-bolsas-de-valores-cierran-en-baja-ante-posible-nueva-alza-de-tasas-en-nid27072023) in the face of a strengthening dollar, always trailing the statements and tone of the [**Fed**](https://leofinance.io/@leoglossary/leoglossary-federal-reserve-bank-the-fed) —which through its chief suggested another interest rate hike at its September meeting— and in general of the US economy, that provided positive data on **[GDP](https://leofinance.io/@leoglossary/leoglossary-gross-domestic-product-gdp)** growth for the last quarter —fixed at 2. 4%, 0.4 percentage points higher than in the first quarter of the year in year-on-year comparison (the estimate pointed to a growth of 1.8%). As regards the main stock market indexes, the Colombian MSCI COLCAP and the Mexican S&P/BMV IPC were the only ones to close up.
*This is all for our fifty-fourth report. I have referenced the sources dynamically in the text, and remember you can learn how and where to follow the LATAM trail news by reading my work [here](https://www.ecency.com/hive-122315/@limonta/the-infinite-world-of-news). Have a nice day*.
[![09.gif](https://files.peakd.com/file/peakd-hive/janetedita/23tHbKgyShCEmxpHJ77QhRbTNYnTK3AsEu1mRRgfVcKPcFk4xq1TW4GVY4UBSR9qmgjZs.gif)](https://vote.hive.uno/@hivecuba) ![](https://files.peakd.com/file/peakd-hive/limonta/23t8ASA8AdcPCyoAEQS6tG65q1CzRydBimNpErqcFA67Cfy5DgtZuxsZR5KNoe4P9BeE2.gif) _{Edited with [Canva](https://www.canva.com/design/DAFeWgJk2ZY/yBj8yxag10qunKlgWYBJQg/edit?utm_content=DAFeWgJk2ZY&utm_campaign=designshare&utm_medium=link2&utm_source=sharebutton).}

No phone for me..