Financial Markets from Latin America
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More News of Markets in Latam
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What to Expect for the Mexican Economy in 2024 According to Two Top Economic Forecasters
Banorte’s Alejandro Padilla and UBS’ Rafael de la Fuente told Bloomberg Línea that the country’s presidential elections shouldn’t disrupt momentum from private consumption and investment
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Lifeline or Mirage? A Deep Dive into Migrant Remittances to LatAm and the Caribbean
Latin Americans face high transaction fees when they send funds home to their families. Between 2019 and 2022, the United States granted 1.7 million work visas to Latinos
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LatAm Hasn’t Done Enough to Boost Trade and Reduce Inequality, IMF’s Georgieva Says
In an interview with Bloomberg Línea, IMF’s Managing Director also outlined the main drivers for Latin America’s economic growth in 2024
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Argentina’s State-Owned Companies Could Be Offered at a Knocked-Down Price
Alberto Ramos, Goldman Sachs’ head of macroeconomic research for Latin America, tells Bloomberg Línea that question marks will remain over policy volatility over the next two decades
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Guyana: An Economic Miracle or a Short-Term Mirage In Latin America?
The South American country’s economy is expected to see the region’s fastest growth following the discovery of huge oil reserves, but which presents a huge challenge for its government
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Co-Working In Latin America: Will WeWork’s Demise Affect the Business Model?
Mexico City, São Paulo, Bogotá and Santiago are the region’s capitals with the biggest presence of co-working at a corporate level
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What to Expect In Argentina In the Run-Up to Milei’s Investiture
How will the dollar, debt and Argentine assets perform in the coming weeks? Fernando Marengo, of BlackTORO Investments, and Salvador Vitelli, of Romano Group, spoke to Bloomberg Línea’s La Estrategia del Día Argentina podcast
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S&P Global to Review Mexico’s Credit Rating Before March 2024
Omar de la Torre, director and head analyst at the ratings agency, said in the Bloomberg Línea Summit in Mexico City on Wednesday that S&P hopes fiscal discipline continues in the 2024-2030 administration
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Fitch Sees Argentina Defaulting or Restructuring Debt, Whoever Wins Election
Todd Martínez, a senior director at the ratings agency, believes it will be difficult to avoid a restructuring following the general elections, and sees dollarization unlikely
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Argentina Aims to Allay IMF Default Fears With $6.5B China Currency Swap
Sergio Massa, Argentina’s economy minister and the ruling coalition’s presidential candidate, aims to make advance payments to the IMF to allay fears regarding that issue
Brazil News
Fuel Prices, Exchange Rates Could Wreck Latin Americans’ Air Travel Plans
Much of airlines’ costs are in US dollars, and the currency’s fluctuations will affect ticket prices, while oil prices will be put under pressure by the war between Israel and Gaza
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Which Latin American Countries Are Among the World’s Top 20 for Crypto Adoption?
India and Nigeria are the countries where cryptocurrencies are most used, while Brazil, Argentina and Mexico are the top countries for their adoption in Latin America
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Economic Woes Persist in Peru as Government’s Promise of Recovery Falters
Peru’s economy contracted more than all forecasts in July, boosting the chance that the central bank will extend the monetary easing it began this week
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Maduro Foresees ‘New Era’ for Venezuela-China Relations Following Beijing Visit
President Xi Jinping said China and Venezuela agreed to enter into a strategic partnership, a sign the two nations are improving ties after years of estrangement
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Venezuela’s Maduro Seals China Partnership With Xi Jinping
Maduro’s visit comes amid worsening strains between Washington and Beijing and as President Joe Biden also seeks to engage Venezuela
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Colombia, Mexico Have Highest Employee Engagement In LatAm, Study Reveals
Remuneration and perks are determining factors for retaining talent, according to a study carried out by Betterfly and Criteria
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Chile’s Inflation Cools In August
Year-on-year inflation during the month was 5.3%, the lowest in almost two years
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How Colombia Can Seize Opportunities as US Shifts Its Supply Chain Away from China
The US is looking to change its supply chain to lessen its dependency on China, and there are opportunities for Colombia to compete, according to government advisor Juan Verde
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Xi Jinping Snubs India G20 Summit Over Beijing Bilaterals With Venezuela, Zambia
Zambian President Hakainde Hichilema will visit China from Sept. 10-16, while Venezuela’s Nicolás Maduro will arrive on Friday for a seven-day trip
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Venezuela’s Maduro Visits China to Seek Financial Support
Venezuela’s Nicolás Maduro will arrive in China on Friday as he tries to secure financial support from President Xi Jinping’s government before a presidential election
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Brazil Congress Looks to Crack Down on Credit Card Rates With 100% Limit
Lawmakers voted 349-24 in favor of the proposed cap on Tuesday evening. It now must clear the Senate before President Luiz Inacio Lula da Silva can sign it into law
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ECLAC Raises Latin America GDP Growth Forecast for 2023
The Economic Commission for Latin America and the Caribbean foresees growth of 1.7%, up from its 1.2% forecast in April, but Argentina’s GDP is expected to contract by 3%
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Brazil’s Industrial Production Takes a Hit at the Start of the Third Quarter
President Luiz Inacio Lula da Silva has tried to lift the manufacturing sector through tax incentives and other relief measures
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Second Quarter Performance Fuels Optimism for Brazil’s GDP Growth
The economy will expand 2.56% this year, up from the prior estimate of 2.31%, according to a weekly survey from the Brazilian central bank published on Monday
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Colombia Sees Foreign Investment, Exports Decline During First Half
The country received $9.56 billion in foreign direct investment in first half, a 4.7% drop compared with the same period of last year, while exports fell 12.6%
Brazil News
Latin America’s Internet Penetration Surpasses that of China
Penetration has reached 78% in the region, but data remains excessively costly for the 20% of the population on the lowest income, according to a report by Atlántico
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What Explains Brazil’s Surprising GDP Growth?
The country’s GDP grew by 0.9% in second quarter, and 3.2% in the 12 months to June, above market expectations. Bloomberg Línea consulted nine economists to explore the reasons why
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Brazil Unemployment Keeps Plunging as Economy Strengthens
Some 8.5 million people were out of work in July, the national statistics agency said
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Argentina Among Six Nations to Join BRICS in Bloc’s First Expansion Since 2010
Saudi Arabia, Iran, Egypt, Ethiopia and the United Arab Emirates were also invited to join the bloc during a summit in South Africa
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BRICS Should Hasten Membership Expansion, Says China’s Xi Jinping
The Chinese leader has used the annual gathering of emerging market powers to call for more nations to join the five-nation group
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BRICS Update: Xi Jinping and Lula Vow to Increase Influence on World Stage
Speaking separately on Tuesday, the comments emphasized points of unity among Brazil, Russia, India, China and South Africa ahead of a gathering that will debate topics on which they lack agreement
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BRICS Expansion Gains Support, But Doubts Persist
South African President Cyril Ramaphosa expressed support for an expansion of the BRICS group of emerging market powers, but India wants the process to be gradual
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M&A Activity In Latin America Seen Picking Up In Second Half
Investors have had to adjust to new market conditions, and while new investments in the region are expected in second half, challenges remain
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Which Latin American Country Is Enjoying the Sharpest Deflation?
Mexico, Chile and Peru are seeing prices drop, while year-on-year inflation in Brazil and Argentina has increased, but Costa Rica has the world’s second-sharpest deflation after Afghanistan
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Chile’s Gabriel Boric Reshuffles Cabinet
Chilean President Gabriel Boric announced changes at the top of five ministries on Wednesday: mining, social development, education, culture and national assets
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Number of M&As In Latin America Falls By 20% In First Half
Venture capital outlays have reduced by 34% in volume to July, while Brazil remains the most active market, followed by Chile and Mexico
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Which Latin American Countries Are the Most Indebted to China?
China is becoming a bigger player in the rescue of low- and medium-income countries, but which can be a double-edged sword for indebted economies
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Argentina to Request Heftier IMF Disbursement After 18% Peso Devaluation
Argentina intends to ask the International Monetary Fund to increase a disbursement planned for later this month by an unspecified amount, according to a senior government official
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Brazil Surprises With Stronger-Than-Expected Economic Activity In First Half
Brazil’s economy ended the first half of the year on better-than-expected footing according to the central bank’s main gauge of activity, as demand proved uneven weeks before the start of key rate cuts
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IMF to Loan Honduras $830M to Support Economic Reforms
The loan aims to aid the country’s urgent needs in social spending and investment, while anchoring macroeconomic stability
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Mexico Sees Tepid Rise In New Foreign Investments Despite Nearshoring Boom
Foreign direct investment into the country totaled $29 billion in first half, 6% up on H1 2022
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What Are the Factors Helping Latin America to Contain Inflation?
Independent monetary policies brought a dual effectiveness in the fight against inflation, with both tightening and the competitive appreciation of local currencies, according to Moody’s
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How Will China’s Slower Growth Affect Latin America?
The most recent international forecasts see China with stronger growth than last year in 2023, but there are also fears that growth expectations won’t be met
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Brazil, Mexico are the Latin American Countries Facing a More Complex M&A Outlook
Financing problems and political and economic uncertainty are impacting the two countries’ M&A market, but 2024 is seen as being a year of recovery
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How Better Housing Could Boost Economic Growth In Latin America
Access to dignified housing could also result in greater access to education, and encourage the enrollment of more than 41 million more children worldwide, according to a study
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What Are Latin American CEOs’ Biggest Concerns?
For 2023, productivity and profits are the main priorities among CEOs in the region, along with modernizing their businesses with technology and artificial intelligence, according to an IBM study
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Argentina Takes On More Debt With $100M IDB Loan
The funds will be aimed at improving productivity and agricultural exports following the effects of the drought, and to boost the country’s dwindling reserves
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How Does Fitch Ratings’ Downgrade of the US Affect Mexico?
Four analysts consulted by Bloomberg Línea offer their take on the possible effect on the exchange rate