Bloomberg Línea — The International Monetary Fund (IMF) has upgraded Argentina’s growth projections and expects to make further progress in negotiating with the country in its debt repayments, as the deadline approaches for a repayment on the South American country’s loan. Meanwhile, the multinational lender has cut its growth estimate for Mexico in 2022, with a forecast for this year of economic growth of 2.8%.
Countries of the Americas have “ground to a halt” in the fight against corruption, which undermines democracy and human rights, with Colombia in particular showing no signs of improvement and Argentina having taken backward steps, according to a report released Tuesday by Transparency International.
Following is a roundup of Tuesday’s news from our reporters across Latin America.
Argentina
· The International Monetary Fund (IMF) has upgraded Argentina’s projection and expects to make further progress in negotiating with the country in its debt repayments. “We are working very closely with the Argentine authorities to create a program that helps the people of Argentina. That would require a program that is strong and credible and that addresses the imbalances that the country has,” said Gina Gopinath, IMF deputy managing director, during the presentation of the report.
· For its part, the Argentine government has announced that the next population census will be carried out on May 18.
Brazil
· Fidelity Investments led a funding round for Brazilian digital lender Creditas in a private fundraising that valued the firm at $4.8 billion, making it one of Latin America’s most valuable financial startups. Other existing investors, such as SoftBank Group Corp.’s Vision and Latin America funds, also took part.
· Brazilian home-delivery firm iFood has been given clearance to make home deliveries with drones. Brazil’s delivery behemoth will now be able to operate drones, as well as motorcycles, thanks to the approval by Brazil’s aviation authority (ANAC).
Ecuador
· Ecuador’s employment figures are still far from reaching pre-pandemic levels, with underemployment and the gender gap continuing to be two severe problems in the country, with 66% of Ecuadorians working in informal and precarious conditions.
Mexico
· The International Monetary Fund cut its growth estimate for Mexico in 2022, with a forecast for this year of 2.8%. On the other hand, América Móvil (AMXL), Latin America’s biggest telecommunications company, said it is open to discuss with US authorities its concerns regarding market competition in Mexico.
· Mexico’s $10 billion train project linking five southern states will be ready by the end of next year, President Andres Manuel Lopez Obrador said Tuesday.
Peru
Venezuela
· The country’s main opposition parties on Tuesday ruled out supporting the process for the activation of the recall referendum against President Nicolás Maduro, which will begin on Wednesday with the collection of signatures by the National Electoral Council (CNE).
