Economy & Business - September 2023

After various delays, on 10 August Guyana’s national assembly finally voted in favour of a new Petroleum Activities bill, replacing the Petroleum Act of 1986.... Read More

Bolivia’s Economy Minister Marcelo Montenegro has announced that Bolivia has increased its use of the Chinese yuan for imports and exports, saying that between May and July Bolivia conducted financial transactions of ¥278m (US$37.8m), accounting for 10% of its foreign trade during that period.... Read More

At first glance Colombia’s mining sector looks to be flourishing.... Read More

PERU | Green investment plan.... Read More

What Economy Minister Sergio Massa most wanted was to avoid a devaluation of the peso before Argentina’s presidential election on 22 October.... Read More

Following a rocky start to President Luiz Inácio Lula da Silva’s third term, Brazil’s economic outlook has improved considerably – and with it the popularity of the 77-year-old former metalworker.... Read More

From oil to minerals and trees, Brazil has been blessed with plenty of natural resources that have fuelled numerous economic boom and bust cycles throughout its history.... Read More

CHILE | No growth on the horizon this year.... Read More

Costa Rica accumulated deflation of -1.70% in the first seven months of the year, the lowest figure in the last decade, the national statistics institute (Inec) reported on 8 August.... Read More

On 11 August the International Monetary Fund (IMF) announced an US$830m arrangement with Honduras following a staff visit to the country from 5-16 June.... Read More

A cargo ferry between the Puerto La Unión port in El Salvador’s La Unión department and the Puerto Caldera port in Costa Rica’s Puntarenas province made its maiden voyage on 10 August.... Read More

GUATEMALA | Joining the South Korea-Central America FTA.... Read More

On 28 August Mexico’s deputy finance minister, Gabriel Yorio, said that the finance ministry (SHCP) would reactivate the ‘Financial Innovation Group’, which seeks to develop innovation, sustainability, education, and inclusion within the digital financial services ecosystem.  Within the framework of Mexico’s first ‘Fintech Week’, which took place between 28 and 30 August, he stated that this would enable the constant and systematic dialogue necessary to turn Mexico into a financial innovation hub within the region.... Read More

On 8 September Mexico’s finance minister, Rogelio Ramírez de la O, presented the government’s draft 2024 budget to the federal congress.... Read More

On 16 August Mexico’s economy ministry (SE) published temporary tariffs that will be levied on imports from countries that do not have a trade agreement with Mexico.... Read More

On 22 August Mexico’s economy ministry (SE) announced it had received a request from the US government to set up a dispute resolution panel under the US-Mexico-Canada Agreement (USMCA) regarding a labour dispute at the San Martín mine, in Sombrerete municipality, Zacatecas state, which is owned by Industrial Minera México SA de CV, a subsidiary of Grupo México, one of Mexico’s biggest conglomerates.... Read More

On 25 August Canada joined the US as a third party in its trade dispute against Mexico over genetically modified (GM), or biotech, corn.... Read More

MEXICO | Inflation continues to slow year-on-year.... Read More