Colombia’s dollar FDI still strong, Korea Investment Corporation with more assets, Lebanon’s political paralysis continues, Ukraine's election maybe postponed
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Colombia’s dollar FDI still strong, Korea Investment Corporation with more assets, Lebanon’s political paralysis continues, Ukraine's election maybe postponed


- Colombia’s balance of payments data shows that dollar inflows from net FDI reached $1.8 billion in Q1 2007. Analysts believe this suggests short term capital inflows may not prevent the appreciation of the nominal exchange rate.

- The Korea Investment Corporation (KIC), the overseas investment agency of the Korean government, plans to increase its assets to $50 billion by 2010 from its $20 billion of start-up- $17 billion was directly from apportioned FX reserves capital. KIC seeks higher returns on the country’s foreign exchange reserves and experts believe Korea is trying to diversify away from the USD.

- Lebanon’s parliamentary speaker has decided to open a parliamentary session to elect a new president on 25 September. This paves the way for a tribunal in the Hariri assassination case to take place according to the UN Security Council resolution. With such political turmoil, consensus on economic policy is highly doubtful at a time when the privatization of the telecom requires approval.

- President Yushchenko said yesterday he was prepared to postpone early Parliamentary elections until June. Legal challenges were expected if amendments to the election legislation were not carried out. However, the opposition has called for a constitutional court review to solve the technical difficulties.

 

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