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Sinovac Breaks Ground On First LatAm Plant; Mexico Raises Interest Rates

A roundup of Thursday’s news from across Latin America

Bloomberg Línea
By Adam Critchley
May 12, 2022 | 10:29 pm

Bloomberg Línea — Chinese vaccine manufacturer Sinovac Biotech broke ground on the construction of its vaccine packaging plant on Thursday in the commune of Quilicura, north of Santiago’s Metropolitan Region. This is Sinovac’s first plant in Latin America, and which will receive an investment of $100 million.

The Bank of Mexico has increased interest rates by half a percentage point, in a widely expected move to control inflation that is at its highest level in more than two decades, raising the rate to 7%, as predicted by 23 of the 24 economists surveyed by Bloomberg.

On the region’s stock markets, Brazil’s stock market uncoupled from the losses in the United States, with the Ibovespa (IBOV) index benefiting from the quarterly reports of the banking sector and recovering 105,000 points on Thursday.

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

Argentina:

Bolivia:

Brazil:

Chile:

Colombia:

Ecuador:

  • Ecuador has defined its external financing sources for 2022. A total of $4.42 billion is on the way by the end of the year, with the main source being the International Monetary Fund (IMF), which approved the fourth and fifth review of the agreement signed in September 2020, and which will unlock $1.7 billion for the country’s coffers.

Honduras:

Mexico:

Peru:

Uruguay:

Venezuela: