Economy & Business - June 2023

In 2015 Brazil’s state-owned oil company Petrobras booked its largest loss ever under the leftist president Dilma Rousseff (2011-2016).... Read More
It has been a tough few months for Colombia’s President Gustavo Petro.... Read More
On 5 May Bolivia’s President Luis Arce promulgated a law permitting the central bank (BCB) to sell 21 tonnes of its gold reserves, which the government has said equates to US$1.26bn.... Read More
Peru’s congress voted on 12 May to approve six modifications to the General Fishing Law, which are aimed at supporting traditional methods of fishing and conserving the marine environment closest to the Peruvian coast.... Read More
VENEZUELA | Oil sanctions loosened.... Read More
Looking at a chart of Argentina’s international monetary reserves, the International Monetary Fund’s (IMF) regular loan payouts look like a heartbeat on an electrocardiogram, seemingly injecting a flash of life into the struggling economy. And yet the country’s financial health is waning.... Read More
While the government of Alberto Fernández is struggling to keep the Argentine economy from falling apart in hopes of avoiding the worst for his Peronist party in October elections, much of the damage may already have been done.... Read More
It took over half a year, but Uruguay finally approved a pension reform that soured workers and opposition parties but boosted the credibility of the country’s public finances.... Read More
ARGENTINA | Strong tourism numbers.... Read More
At the beginning of May, President Rodrigo Chaves set out the main achievements of his first year in office.... Read More
The Panama Canal Authority (ACP) has imposed limits on the draught of ships allowed to pass through the Canal after drought caused water levels to fall, raising concerns about the future viability of the strategically important shipping route as the impacts of climate change continue.... Read More
Liza-1, the first offshore oil and gas production block operated by US oil giant ExxonMobil (45%) and partners US firm Hess (30%) and China’s China National Offshore Oil Corporation (CNOOC) (25%), has already begun transforming Guyana’s economy with the International Monetary Fund (IMF) estimating GDP will grow by a stratospheric 37.2% this year.... Read More
Barbados’ Prime Minister Mia Mottley stepped up her campaign for increased debt relief for countries suffering the impact of climate change at the end of April, with France and Zambia agreeing to support her Bridgetown Initiative.... Read More
DOMINICAN REPUBLIC | Cutting interest rates.... Read More
On 19 May the governor Mexico’s central bank (Banxico), Victoria Rodríguez Ceja, stated that inflation in Mexico had started to fall, as confirmed by the latest official figures.... Read More
US-based investment bank and financial services corporation Citigroup announced on 24 May that it had halted talks to sell its controlling stake in its Mexican retail banking business, Citibanamex.... Read More
More than 1,200 flights were disrupted between 19 and 22 May in and around Mexico City (CDMX) as a result of volcanic ash from Popocatépetl, an active volcano located in central Mexico.... Read More
MEXICO | Tax breaks for firms investing in southeast.... Read More

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