Latest quotes
Bloomberg Línea — Colombia has begun talks with the United Arab Emirates toward a free trade agreement, and, on the second anniversary of the outbreak of the Covid-19 pandemic, Mexico added the largest number of formal jobs in February since records began in 1998, with 178,867 new positions filled.
On the region’s stock markets, Brazil’s Ibovespa (IBOV), the main index of the largest stock exchange by market capitalization in Latin America, had the worst performance in the region, infected by the international mood in which none of the main stock exchanges registered gains, falling by 2.52%.
Investors are monitoring the war in Ukraine and the strong appreciation of raw materials worldwide. In addition, the performance of Petrobras’ common and preferred shares (PETR3; PETR4) weighed on the local performance.
Following is a roundup of Monday’s news from Bloomberg Línea and Bloomberg reporters across Latin America.
Argentina:
- “Due to institutional responsibility, we cannot and will not push Argentina to default”, reads the second paragraph of the communiqué issued by Juntos por el Cambio, Argentina’s main opposition coalition, after the meeting of its national board, which gathers together the leaders of each of the parties that make up that opposition bloc.
- Economy Minister Martín Guzmán appealed for “responsibility” and warned about the impact on the economy, in the event of default, if the agreement with the IMF is not approved.
- The gap between the prices of Argentine and international barrels of oil generates local pressure and breaks a truce between the companies and the government, according to experts consulted by Bloomberg Linea.
Brazil:
- Banco Inter (BIDI3; BIDI4; BIDI11) announced Monday that the bank’s board of directors approved the payment of interest on capital stock (JCP) to shareholders, and that state oil company Petrobras must seek the government’s approval for a price readjustment in view of the increase in fuel prices.
Chile:
- Just when traders thought things might be starting to improve in Chile with regards inflation, Russia invaded Ukraine and oil prices soared to their highest level in more than a decade. Markets are now struggling to adjust to the new developments as fears grow of spiraling inflation in Chile.
- In an interview with Bloomberg Línea, Chile’s under secretary for transport José Luis Domínguez commented on the challenges for the next government and Latin America regarding the renewal of bus fleets using electric energy.
Colombia:
- Colombia has begun talks with the United Arab Emirates toward a free trade agreement.
- Canacol Energy Colombia has signed agreements with the Bolivian government for the exploration and exploitation of seven gas wells in that country, with investments of $94 million, informed the state-owned company Yacimientos Petrolíferos Fiscales Bolivianos on Monday.
- And this is the story of the Colombian who went from flipping burgers at McDonald’s to leading the company in four countries.
Costa Rica:
- Inflation measured by the consumer price index saw an inter-annual variation in February of 4.90%, the highest figure in the last 10 years. The new data published by the National Institute of Census and Statistics (INEC) exceeds the upper limit of the tolerance range determined by the Central Bank of Costa Rica, which is between 2% and 4%.
Dominican Republic:
- The number of people in formal employment in the Dominican Republic fell in January, but remains above pre-pandemic levels. Despite the drop in formal jobs, the country currently has the highest number of the population in employment in the last five years.
Ecuador:
- The dramatic rise in oil prices is already beginning to have effects on Ecuador. Although the greatest impact will be felt in the coming months, February’s inflation is already showing the way, as year-on-year inflation stood at 2.71%, the highest in the last five years.
- The South American country has issued its first sustainable bond, for $50 million, by IDB Invest and Produbanco.
Guatemala:
- A Guatemalan delegation has appealed for a rating change to rating agencies in New York. The meetings were held with executives from Standard & Poor’s, Moody’s and Fitch Ratings in order to present the results of Guatemala’s latest macroeconomic indexes.
Mexico:
- On the second anniversary of the beginning of the Covid-19 pandemic in Mexico, the country added the largest number of formal jobs in February since records began in 1998, with 178,867 new positions filled, according to the monthly report by the Mexican Social Security Institute (IMSS).
- Violence at Querétaro’s La Corregidora stadium could revive proposals to control alcohol consumption in stadiums.
