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