Economy & Business - January 2023

While 2022 was a tough year for all Latin America and the Caribbean, Cuba suffered more than most – and it looks set to continue lagging in 2023 as some of its regional neighbours push forward on the recovery path.... Read More

After years of being labelled a pariah state, Venezuela is gradually and tentatively reintegrating into the international community – potentially generating economic and even political benefits for its people and the world.... Read More

Alongside his running mate, environmental activist Francia Márquez, Gustavo Petro spent a good part of his election campaign telling voters that he would halt hydrocarbon exploration and fast-track a transition toward renewable energy.... Read More

On 1 December Ecuador’s mining and energy ministry announced, in collaboration with the Inter-American Development Bank (IADB), plans for a roadmap to the production and use of green hydrogen.... Read More

PERU | Interest rate hike.... Read More

As if President Luiz Inácio Lula da Silva didn’t already face a daunting economic challenge, the recent storming of democratic institutions in Brazil’s capital added another level of complexity to the problem.... Read More

In its first decade of existence, the Southern Common Market (Mercosur) regional trade bloc was a roaring success; in the second decade, domestic crises triggered tensions and internal dispute; and in the last decade, growth has stalled and the bloc’s importance has waned.... Read More

The hype surrounding the economic potential from the so-called ‘lithium triangle’ in the central Andes over the past year has taken on near-epic proportions.... Read More

PARAGUAY | Country records first trade deficit in nearly three decades.... Read More

Coffee farming continues to play a “dominant role in the economy and social fabric” of El Salvador, Guatemala, and Honduras, but the industry is facing serious challenges, according to a new report from the Inter-American Development Bank (IADB).... Read More

Foreign direct investment (FDI) rebounded throughout Central America in 2021 after a sharp decline in 2020, with Costa Rica the top performer according to the latest annual report from the United Nations’ Economic Commission for Latin America & the Caribbean (Eclac).... Read More

Costa Rica’s fiscal deficit has fallen after ballooning for years, and lawmakers have approved an external bond issuance after the International Monetary Fund (IMF) completed a successful third review of its agreement with the country.... Read More

DOMINICAN REPUBLIC | Record net international reserves.... Read More

Local think-tank México, ¿Cómo Vamos? (MCV) released its fourth social progress index (IPS) study on 16 November.... Read More

Following negotiations between the government, business sector, and labour organisations, Mexico’s minimum wage was increased by 20% to reach a daily rate of M$207 (US$10.95) for most of the country and M$312 in the northern border area, effective from 1 January.... Read More

Mexico’s senate approved amendments to the federal labour law (LFT) on 14 December to increase the number of paid holidays that workers are entitled to per year.... Read More

A trade dispute with the US was averted on 16 December after Mexico’s government proposed to delay a ban on the import of genetically modified (GM) corn planned to commence in 2024.  Imports of yellow corn – which is a key input for animal feed and the agro-industrial sector - from the US will now continue until 2025.... Read More

MEXICO | Gross fixed capital formation increases.... Read More