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Economy & Business - June 2020

LEADER
The coronavirus (Covid-19) pandemic, and resultant quarantine measures and travel bans, has hit Latin America’s airlines particularly hard...
ANDEAN COUNTRIES
On 16 May, Ecuador’s national assembly passed the ‘public finances law’, the second of two ‘emergency laws’ sent by the Lenín Moreno executive to address the country’s precarious economic situation...
It is no secret that Venezuela’s economy, and by association the country as a whole, is heavily is dependent on oil...
Interim president Jeanine Áñez’s sudden move to permit trials with five genetically modified seed varieties has stirred passionate debates over food sovereignty and the environment in Bolivia...
COLOMBIA | Public transport at risk...
BRAZIL & SOUTHERN CONE
The coronavirus (Covid-19) pandemic has hit the global economy, slashing demand and driving down commodity prices...
After missing an overdue interest payment of US$503m on foreign debt on 22 May, Argentina formally fell into its ninth default...
BRAZIL| First international bond issuance of 2020...
CENTRAL AMERICA & CARIBBEAN
The coronavirus (Covid-19) pandemic has elicited a range of responses among Central American nations but increased fiscal pressures due to the health emergency is one thing that many have in common...
Moves to reopen the Caribbean to tourism are gathering pace...
REGION | Icefi warns of drop in tax take...
MEXICO
Mexico’s state-owned electricity company, Comisión Federal de Electricidad (CFE), on 10 June, published a new set of fees for transporting and distributing the electricity produced by renewable energy generators...
Mexico’s air travel industry accounts for around 3.05% of the country’s GDP...
After remaining closed for about two months due to the coronavirus (Covid-19) pandemic, Mexico’s car and auto parts manufacturers restarted operations in the last week of May...
Mexico’s social security institute (IMSS) reported on 12 May that 555,247 formal jobs were lost in April due to the impact that the coronavirus (Covid-19) pandemic is having on Mexico’s economy...
Interest rate cut: On 14 May the governing committee of Mexico’s central bank (Banxico) decided to cut the benchmark interest rate by 50 basis points to 5.5%, in a further effort to address the economic fallout of the coronavirus (Covid-19) pandemic...

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