Chile Forecasts Copper Price Rise; Citigroup Begins Banamex Sale

A roundup of Thursday’s news from across Latin America

Bloomberg Línea
April 14, 2022 | 08:30 PM

Bloomberg Línea — Chile, the world’s top copper producer, has raised its projection for prices of the metal, citing a commodity rally exacerbated by Russia’s invasion of Ukraine. The Chilean Copper Commission (Cochilco) expects prices to average $4.40 a pound this year, up from an estimate of $3.95 three months ago.



Citigroup (C) has begun the process of selling its Mexican retail business, Banamex. “We have started the sale process in Mexico and there is significant interest in this iconic franchise,” said Citi’s CEO Jane Fraser,at a conference with analysts and investors on Thursday.

Thursday was a public holiday in most Latin American countries, and only the stock markets of Chile and Brazil traded, both of which closed with losses. Brazil’s Ibovespa (IBOV) dropped 0.51%, dragged down by the performance of the stock markets in the United States and the information technology, materials and real estate sectors. 



Following is a roundup of Thusday’s news from Bloomberg Línea and Bloomberg reporters across Latin America.

Argentina:

Brazil:

Chile:

Colombia:

Costa Rica:

Ecuador:

Guatemala:

Mexico:

Panama:

Peru:

Uruguay:

Venezuela: