Archive: December 2012

Latin American Finance Ministers

For Luis Valdivieso, the day of Monday not could have been better: assumed as the new Minister of economy of Peru on the same day in which Standard and Poors granted investment-grade rating to his country. The task of the Latin American Finance Ministers, usually isn’t simple. But in the case of the Peruvian economy, that it is marching in the right direction, the only thing you need to do is stay on course and avoid that different factors that threaten to divert it, achieve it. Already with his Orthodox profile, the new Minister of economy ensuring the continuity of economic policies that come forward being in Peru. In particular, the sustainability of fiscal austerity is key at a time where inflationary pressures have increased in a context in which monetary policy is ineffective.

But returning to the subject of Peru investment grade rating, what drew S & P to improve the note at a time when global markets are so agitated and may negatively impact on the Peruvian economy? Sebastian Briozzo, analyst for S & P credit, in a statement said: the improvement is supported by the significant drop in the fiscal and external vulnerabilities of Peru, in the context of diversification of the sources of growth with low inflation and strengthening of the macroeconomic fundamentals. For Fritz Dubois of the Peruvian Institute of economy and former adviser to the Ministry of the economy: despite a difficult international context, Peru is doing very well. He has had an excellent fiscal position and does not need that markets are open to finance. The Peruvian economy will easily grow by 8% this year. The wide access that has Peru to international markets in the current global economic context, is reflected in the fact that recently, he issued bonds with deadlines of 30 and 40 years (the 30-year bond issued it at fixed rate).

Deloitte Consulting

It is a pity that rarely are articles that explain how it works in reality Spanish cinema. We can find hundreds who criticize it harshly, but it is necessary to leave Spain in order to find something of impartiality. Late in September, Variety magazine published a series of very interesting articles on the situation of the Spanish cinema, one particularly entitled New Reign in Spain (new reign in Spain), is the evolution of the business model in the film, following at a seminar which was held in July, new look to the financing and investment in the production of films in Spain. Under this title so much fun, they managed to gather in the same room to Spanish and foreign producers with Spanish banking and investment specialists (who have no idea of the film business) and foreign (that Yes know this), and these papers drawn a number of conclusions: 1.-There is a big change in the way of achieving investment to produce film. Between the public subsidies and mandatory funding of the TV, covered 80% of the budget of the average Spanish film, according to Deloitte Consulting. This has changed and, in the words of Ignasi Guardans, director general of the ICAA “from now on the producer not call three doors: Ministry, autonomous community and televisions, to assemble the production of a film.” This model is over, you will now need to attend many more doors to get a minimum return on investments (read article in ninjacero2). 2. We are moving towards a model in which capital investment must be mostly private. Through new tax breaks for producers, thanks to the figure of the EIG (economic interest grouping) that allows a few major tax benefits in order to attract the interest of private investment. Banks, specialized investment funds and insurance companies, are destined to become protagonists in this new form of financing, as well as large companies and individuals seeking to make an investment of venture capital (cinema always it is, because you never know how to operate the movie) but has at the same time great advantages (reputation, marketing, image, brand, etc).

Spiritual Power

To fall in the preparation before certain situations in the life is easy and sometimes gives the sensation to feel happy to have favorable conditions that others do not have, when we were accustomed to that other people solve some problems in our life we are totally remote of which the light of being able acts and illuminates our life. The dependency the unique thing that creates is mediocrity and uselessness, for that reason you are kind to avoid it because generally she arrives at our life of a so sigilosa way that not even we realize it, we mention an example where a person begins to face economic problems due to the lack of use, decides to resort to his relatives and originally the idea sounds well, makes a small station by while the problem is solved, some manage there to solve it quickly and again they return to independence, but a great number is remained rich and the solution never practically arrives. Which is the risk of looking for aid before the smaller adversity? That its mind will be accustomed to that others solve their life and each day will have a smaller autonomy, then it is creating a mental footpath of dependency and later to change it can be quite hard. One of the characteristics of the subconscious mind is that it looks for to act when is pressed to him until the end, we return to the case of the person who has been without use, if she looks for aid in the family and there she has everything, then internamente her mind will say: already I am well , I have everything here , is nothing of which to worry , calm, watches television what happens? The mind is not feeling the pressure of change, then the probability of solving the problem is reduced, because same you do not feel in emergency state.