PUBLICIDAD
PUBLICIDAD

Chile Shrinks GDP Forecast; Colombia’s Exports Surpass Pre-Pandemic Levels

A roundup of Tuesday’s news from across Latin America

Bloomberg Línea
By Adam Critchley
May 03, 2022 | 10:40 pm

Bloomberg Línea — Chile’s Finance Ministry forecasts GDP growth of 1.5% in 2022, a forecast that is a significant downward revision from the 3.5% estimated in the previous report, from the fourth quarter of 2021, released during President Boric’s predecessor Sebastián Piñera’s administration.

Colombia’s exports totaled $4.96 billion in March, up by 48.6% compared with the same month of 2019, prior to the outbreak of the pandemic.

On the region’s stock markets, Argentina’s Merval index (MERVAL) recovered from Monday’s losses and had the best performance in Latin American on Tuesday, boosted by the performance of shares of companies such as Transener (TRAN)), Banco BBVA Argentina (BBAR), Banco Macro (BMA) and Loma Argentina (LOMA).

PUBLICIDAD

Mexico’s stock exchange (MEXBOL) had the worst performance in the region, closing down 1.6%, while Brazil’s Ibovespa (IBOV) also closed lower, prior to an expected announcement this week by the country’s central bank regarding its interest rate adjustment.

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

Argentina:

Brazil:

  • Brazilian fintech Nubank (NU) could come under increased pressure as it nears the end of a multibillion-dollar freeze on its shares. The restriction on the sale of shares in the digital bank ends on May 17, following the release of first-quarter results, and a total of $26 billion in shares could trade on the market as a result, according to estimates by Bloomberg based on the prospectus and other regulatory documents

Chile:

  • Chile’s Finance Ministry is increasingly pessimistic about the country’s finances. According to the first public finances report from the government of President Gabriel Boric, presented to the Senate on Tuesday, Gross Domestic Product will grow 1.5% in 2022, a forecast that is a significant downward revision from the 3.5% estimated in the previous report, from the fourth quarter of 2021, during Boric’s predecessor Sebastián Piñera’s administration.

Colombia:

Costa Rica:

Ecuador:

Mexico:

Peru:

Uruguay:

  • Uruguayan payment services company dLocal Ltd.plans to use part of its growing amount of cash to accelerate its expansion in developing countries through acquisitions. The company, which in December tripled its cash reserves to $336 million, is now targeting Africa and Asia for possible acquisitions.