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...Rafael Llosa's company has been lending money to some of the poorest people in Peru for 30 years. It used to be a fairly lonely endeavor. Giving tiny loans to impoverished women to make ceramics or to farmers to buy milk cows was hardly seen as a great business...

Author: /time Magazine | Title: The Big Trouble In Small Loans | 6/5/2008 | See Source »

When the Colombian military made its controversial incursion into neighboring Ecuador two months ago, it may well have removed more than just a camp full of leftist Colombian guerrillas. The raid may wind up taking out a $70 million U.S. Air Force base as well. On Monday, Ecuadorian President Rafael Correa said he's "convinced" the U.S. aided Colombia in the March 1 attack and reiterated his suspicions that U.S. intelligence agencies had infiltrated Ecuador's armed forces and police - remarks that seem to all but assure that the small South American nation will not renew the lease...

Author: /time Magazine | Title: Ecuador Targets a U.S. Air Base | 5/14/2008 | See Source »

...like a luxury when it costs $75 to fill the fuel tank. That's why Ronelle Scardina, 39, scrapped plans to drive 400 miles to Disneyland in Anaheim, Calif., this July and decided instead to rent a cabin on a lake just two hours from her home in San Rafael. "Prices are going up on everything, and we have a mortgage and a family to support," says the working mom, who expects to scrimp even more by packing her family of four into her 1994 Honda Civic instead of taking her roomier--but gas-slurping...

Author: /time Magazine | Title: How to Take a Gas Holiday | 5/8/2008 | See Source »

That incursion spurred an Andean diplomatic crisis: an angry Ecuadorian President Rafael Correa severed relations with Colombia, and the Organization of American States called the attack a violation of sovereignty. But conservative Colombian President Alvaro Uribe accused Ecuador and its left-wing government of harboring the FARC, which has fought the Colombian government in a bloody civil war for 44 years. Uribe claims that data on Reyes' laptop computer reveals ties between the FARC and Ecuadorian Security Minister Gustavo Larrea. Correa vehemently denies it, insisting his military has removed FARC camps inside Ecuador and that Colombia - whose own military...

Author: /time Magazine | Title: South America's Most Troubled Border | 4/18/2008 | See Source »

Hailed as one of spain's greatest cinematic talents, screenwriter Rafael Azcona penned nearly 100 scripts over his prolific career, including several enduring works that examined his homeland's troubled past. Among the many tales he spun out of the jarring legacy of the Spanish Civil War, Belle Epoque earned him an Oscar for Best Screenplay in 1992. The film, which marked the first major leading role of fellow Spaniard Penélope Cruz, harked back to a less complicated time, on the eve of dictator Francisco Franco's rise. With a deft ability to move between drama and levity, innocence...

Author: /time Magazine | Title: Milestones | 4/10/2008 | See Source »

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