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Economy & Business - August 2019

Leader
The United Nations Economic Commission for Latin America and the Caribbean’s (Eclac) Social Panorama 2018 report was published on 19 January, demonstrating indicator improvements in the reduction of monetary and income inequality across the region – alongside significant room for improvement...
Andean Countries
One of Bolivia’s leading tourism destinations, the Uyuni salt flat is believed to contain one of the largest lithium reserves in the world...
In April 2018, shortly after assuming office, Peru’s President Martín Vizcarra declared that he was ‘pro-development’ in relation to the mining sector, but only when new projects offered the opportunity to improve the quality of life of local residents and protected the environment...
Highlights
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Brazil & Southern Cone
Brazil’s state-owned oil company Petrobras will no longer hold a monopoly on the natural gas market following a deal with antitrust authorities...
On 28 June Chilean retail giant Cencosud earned US$1.055bn in the largest IPO ever made on the Santiago stock exchange...
The Paraguayan capital of Asunción thought it had come up with a solution to its famous traffic congestion, a bus rapid transit (BRT) system known as Metrobús, but the wheels have come off the project amid allegations of corruption...
Uruguay will not hit its fiscal deficit target of 2.5% of GDP in 2019 and faces a complicated economic situation in the run up to this year’s elections on 27 October...
Mexico
On 2 July 2019, the project to expand and modernise the Veracruz port marked an important milestone with the arrival of the Maltese-flagged container ship White Shark at the new purpose-built container terminal (TEC), built by Hutchison Ports-ICAVE...
The 2019 business plan for Petróleos Mexicanos (Pemex), the state-owned petroleum company, aimed at resolving the ongoing financial problems that have made it the world’s most indebted oil company, was announced on 16 July...
Despite steady growth in passenger numbers in the first half of 2019, Grupo Aeromexico has been something of a cause for concern for investors, after it reported losses of more than US$46m (M$897m) in the fourth quarter of 2018...
A preliminary report posted by the Mexican National Statistics agency on 30 July 2019 ahead of the official release of data on the second quarter of 2019 on 23 August showed that the Mexican economy expanded by 0.1% over April-June, when adjusted for seasonal swings...
Central America & Caribbean
In February Costa Rica’s President Carlos Alvarado announced plans to make the country emissions free by 2050...
Amid growing scrutiny of Latin America’s ability to mitigate the effects of climate change, Central America’s ‘Dry Corridor’ is an area where this challenge is particularly acute...

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