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Economy & Business - August 2021

LEADER
Mexico’s national commission for the evaluation of social policy (Coneval), that federal government body that is responsible for measuring poverty and the effects that social policies have on its incidence, published a new report on 12 July analysing the impact that the government’s social policies adopted to mitigate recent disasters, in particular, the coronavirus (Covid-19) pandemic...
ANDEAN COUNTRIES
On 20 July – Colombia’s Independence Day – the Colombian government formally presented a revised version of its tax reform bill to congress, three months after the first iteration sparked widespread protests [EB-21-06]...
In the two months since Ecuador’s President Guillermo Lasso took office in late May, the issue of price controls for basic goods has emerged as the most likely source of conflict between his government and various civil society groups...
In a move described as “historic” by Peru’s former housing, construction & sanitation minister, Solangel Fernández (2020-2021), on 14 July the government approved the national housing and urbanism policy, designed to tackle the Andean country’s longstanding shortage of adequate homes...
ECUADOR | Import tariff reductions...
BRAZIL & SOUTHERN CONE
Until recently economists worried that, held back by the coronavirus (Covid-19) pandemic, aggregate demand in the Brazilian economy has been too low...
In a long-awaited report published on 19 July, Camilo Benítez, Paraguay’s comptroller general (CGR), said Brazil had manipulated the finances of the jointly operated Itaipú hydroelectric complex, generating an “illegal” debt of US$4.19bn...
There are various possible scenarios for Argentina’s immediate economic future...
Chilean residents with privately managed pension funds are likely to be authorised – for the fourth time running – to withdraw part of their pension savings...
A virtual summit of the Southern Common Market (Mercosur) members’ heads of state (Argentina, Brazil, Paraguay, and Uruguay) failed to resolve the deadlock over proposals to reduce the regional trade bloc’s common external tariff and allow a more flexible approach to trade deals...
BRAZIL | Foreign investment...
CENTRAL AMERICA & CARIBBEAN
On 7 July Honduras and Nicaragua suffered a total blackout, the latest in a series of serious problems that have affected regional electricity distribution...
A growing coalition of civil society groups is mobilising against so-called ‘employment and economic development zones’ (Zedes) promoted by the government led by President Juan Orlando Hernández...
The 2021 World Investment Report from the United Nations Conference on Trade and Development (Unctad) makes bleak reading for the Caribbean and most particularly for Trinidad & Tobago...
At the beginning of August, John Rolle, the governor of The Bahamas’ central bank said that The Bahamas began a slow recovery in the first half of 2021...
COSTA RICA | IMF loan approved...
MEXICO
International credit ratings agency, Moody’s Investors Service, lowered its rating of Mexico’s state-owned oil firm, Pemex, from ‘Ba2’ to ‘Ba3’ on 27 July...
In a 2 July interview with Spanish daily, El País, Mexico’s former finance minister Carlos Manuel Urzúa (2018-2019) highlighted that one of the most significant problems that governments in Mexico face at present –both at the federal and state level- is a lack of funds because tax revenue is only around 14.5% of GDP...
The Mexican press reported on 8 July that the Mexican and US authorities had reached an agreement over the reparations to be offered to make up for the labour rights violations denounced at a General Motors (GM) automobile assembly plant in Mexico’s Guanajuato state...
MEXICO| GDP growth...

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