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Monday Memo: Santos Wins in Colombia – Argentine Appeal Rejected – Biden Visits Latin America – Bolivia Hosts Summit – Neves to Face Rousseff in Brazil

This week’s likely top stories: Colombian President Juan Manuel Santos wins re-election; the U.S. Supreme Court rejects Argentina’s appeal; U.S. Vice President Joe Biden visits Latin America; Bolivia hosts the G77+China Summit; Aecio Neves will represent the PSDB in Brazil’s elections.

Following the 2014 World Cup? Read more coverage here.

Santos Re-elected President in Colombia: Colombian voters re-elected incumbent President Juan Manuel Santos on Sunday, awarding him nearly 51 percent of the vote. Óscar Iván Zuluaga, who led in the first round election on May 25, gained only 45 percent of the vote in Sunday’s runoff election and delivered a concession speech on Sunday.  Santos’ campaign focused on continuing his government’s peace talks with the Fuerzas Armadas Revolucionarias de Colombia (Revolutionary Armed Forces of Colombia—FARC) in Havana, and called his election a victory “of hope over fear.” Santos will be inaugurated on August 7 to serve another four-year term.

Argentine Appeal Rejected By U.S. Supreme Court: The U.S. Supreme Court dealt a major blow to the Argentine government on Monday, rejecting the country’s appeal in its case against holdout creditors Aurelius Capital Management and NML Capital Ltd. The court let a lower-court ruling stand without comment, upholding a decision that Argentina owes more than $1.3 billion in principal and interest. The Argentine government warned that the decision could have severe consequences and “trigger a renewed economic catastrophe.” Argentina defaulted on about $100 billion of its debt during its 2001 financial crisis.

Biden to visit Brazil, Colombia, the Dominican Republic and Guatemala: Obama administration officials announced on Sunday that Vice President Joe Biden will add a stop to his tour of Latin America this week: Guatemala. The vice president will attend today’s soccer match between the U.S. and Ghana in Brazil, and then visit Colombia and the Dominican Republic before meeting with Central American leaders in Guatemala on Friday. The vice president is expected to discuss the soaring number of unaccompanied Central American minors who have crossed into the United States without papers. This year, 48,000 unaccompanied young immigrants were apprehended by U.S. Border Patrol.

Bolivia Hosts G77+China Summit: Bolivia hosted the G77+China Summit this weekend in Santa Cruz, marking the 50th anniversary of a group of 77 developing countries that has since expanded to 133 countries. China, while not a member of the G77, joined the summit to signal its increasing trade ties with the region. Bolivian President Evo Morales called for a new world order where “the peoples of the world can grow in peace and live well” and an end to the UN Security Council, which Morales said has only reinforced global hierarchies and no longer promotes peace. UN Secretary General Ban Ki-moon emphasized the importance of the G77+ China for global development and added that countries must protect human rights to achieve sustainable development. The summit concluded with a call to end poverty by the year 2030.

Aecio Neves to Run Against Rousseff in October: The Partido da Social Democracia Brasileira (Brazilian Social Democracy Party—PSDB), nominated Senator Aecio Neves to run for president against incumbent President Dilma Rousseff in Brazil’s October 5 presidential elections. On Saturday, Neves, a former governor from the state of Minas Gerais, said that he would implement a more austere economic policy, reducing public spending to reign in the country’s inflation. However, Neves also said in a June 2 interview that his government would continue funding the popular Bolsa Familia cash transfer program. Current polls show that Rousseff holds an eight percentage point lead over Neves in the case of a runoff election, which would take place on October 26.

Following the 2014 World Cup? Read more coverage here.

Any opinions expressed in this piece do not necessarily reflect those of Americas Quarterly or its publishers.
Tags: Argentine debt, Juan Manuel Santos, Joe Biden

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