Contributions from Carin Zissis
Sebastián Piñera won Chile’s second-round elections on January 17, marking the first loss by the Concertación coalition in two decades. The billionaire emerged as the clear victor by Sunday evening, pulling in nearly 52 percent of the vote in the race against former President Eduardo Frei.
Shoppers flocked to stores over the weekend even as Venezuelan President Hugo Chávez warned companies against price increases. Caracas announced a devaluation of the bolivar in a move that sparked a rally on Venezuelan debt—as well as inflation worries.
Mexico rang in the New Year with a series of tax hikes in hopes of easing a budget deficit. The tax increases come as President Felipe Calderón kicks off the second half of his term with an ambitious political reform proposal.