International
Will Colombian Congress approve President Petro’s reforms?
August 9|
The change of the boards of directors of Congress, in this second legislative year that has just begun in both the Senate and the House of Representatives, is not a guarantee that the Colombian government will be able to move forward with the first three social reforms promoted during the first legislative year that did not see the green light due to timing: the health, pension and labor reforms, said political scientist Guillermo Segovia.
”The three could not pass in the normal procedure in the debates because they evidenced not only that there is a big problem that in part was the justification for the election of this government, the government was elected on the basis that there was an accumulation of protests related to the health issue, with labor issues and with the pension issue,” said Segovia.
“But once the Government and the criteria of the reforms were established, the sectors that traditionally manage the sectors of economic power, that manage those sectors of social rights have opposed in a very powerful way through the media, through the unions, the associations, the parliamentarians that have been financed by those unions, to the advancement of the reform”, he added.
In this second legislative year, the outlook for the passage of these three social reforms is uncertain.
Internal problems in the Historical Pact, the rupture of the broad front of the Government due to different scandals will force the current administration to make a greater effort to achieve the necessary votes in Congress to pass them into law.
Another important point to move forward the Health, Pension and Labor reforms will be the social mobilization in the streets and the will of the majority of Colombians who elected the progressive Government of Gustavo Petro precisely to advance the great social transformations never executed.
Once again, the unions, the traditional parties, the media and the lobbyists of the private health operators such as the EPS, Health Care Providers Companies, and the Private Pension Funds managed by the owners of the banks in Colombia will be in charge of preventing the reforms from succeeding and being sanctioned by the Executive.
International
US panel backs Trump-themed coin amid controversy
The United States Department of the Treasury confirmed to AFP that the Commission of Fine Arts approved the design of a new collectible coin featuring Donald Trump, with members of the commission appointed by the current administration.
According to the proposal, the coin will feature an image of Trump standing with clenched fists over a desk on the obverse, while the reverse will display an eagle, a traditional symbol of the United States.
The sale price of the collectible has not yet been disclosed, although the United States Mint typically offers similar items for more than $1,000.
“There is no more iconic portrait for the front of these coins than that of our president Donald Trump,” U.S. Treasurer Brandon Beach said in a statement sent to AFP. He added that two additional coins — a $1 piece and a one-ounce gold coin — are also under consideration.
However, the Citizens Coinage Advisory Committee (CCAC), another body responsible for reviewing new coin proposals, declined to discuss the Trump design in late February.
“Only nations governed by kings or dictators place the image of a sitting leader on their currency,” said Donald Scarinciat the time. “No country in the world has minted coins featuring a democratically elected leader during their term in office,” he added.
When contacted by AFP, the Treasury Department did not immediately respond to requests for further comment.
International
Fed’s Waller warns of rising inflation risks amid Middle East conflict
Christopher Waller, a governor at the Federal Reserve, said Friday that he is increasingly concerned about the inflationary impact of the ongoing conflict involving United States and Israel against Iran, particularly due to the prolonged closure of the Strait of Hormuz.
Waller, who had supported interest rate cuts over the past year amid concerns about the labor market, said he has shifted his stance in recent weeks due to rising inflation risks.
“Since the Strait of Hormuz was closed, it suggests this conflict could be much more prolonged and that oil prices will remain elevated for longer,” Waller said in an interview with CNBC.
“Therefore, this indicates that inflation is a greater concern than I had previously assessed,” he added.
Waller also backed the Federal Reserve’s decision earlier this week to keep interest rates unchanged, signaling a more cautious approach as global geopolitical tensions continue to affect economic outlooks.
International
Brazil offers to mediate Colombia-Ecuador tensions, calls for restraint
The government of Brazil has offered to mediate in the ongoing tensions between Colombia and Ecuador, while calling on both nations to exercise restraint.
In a statement released Wednesday, Brazil’s Ministry of Foreign Affairs urged the parties involved to act with moderation and seek a peaceful resolution to the dispute.
“Brazil encourages all sides to act with moderation in order to find a peaceful solution to the controversy. It stands ready to support dialogue efforts aimed at preserving peace and security in the region,” the statement said.
Brazil also expressed “serious concern” over reports of deaths in the border area between Colombia and Ecuador, noting that the circumstances surrounding the incidents have not yet been clarified.
The diplomatic move comes amid rising tensions between the neighboring countries, increasing regional concern over stability and security along their shared border.
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