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Economy & Business - March 2021

LEADER
The United Nations Conference on Trade and Development (Unctad) has ranked Costa Rica first in Latin America and the Caribbean (LAC) for preparedness to support online shopping...
ANDEAN COUNTRIES
Last year was a disastrous year for Ecuador’s national oil industry with exports down around 40% in monetary terms due to a fall in demand and low prices stemming from the coronavirus (Covid-19) pandemic and the temporary rupture of the country’s two oil pipelines...
In 2020, Peru experienced one of the biggest GDP declines in Latin America, of 11.1%, as a result of the coronavirus (Covid-19) pandemic...
In late December 2020, Bolivia’s state-owned energy company Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), announced that exploratory drilling at the Yarará-X1 well had been successful, with drill stem tests (DST) yielding very positive results pointing to the future commercial viability of the site...
BOLIVIA | New solar power plant begins operations...
BRAZIL & SOUTHERN CONE
Under the leadership of Roberto Castello Branco, oil firm Petrobras, Brazil’s largest state-controlled company, seemed to be doing its homework: debts were down and profits were up...
Chile’s economy is still struggling...
Suddenly, it seems, everyone is interested in the Paraná-Paraguay Hidrovía, or river transport waterway...
Uruguay is one of the only countries in Latin America that has managed to come through the coronavirus (Covid-19) pandemic without imposing obligatory lockdowns...
CHILE | Ramping up pandemic aid...
CENTRAL AMERICA & CARIBBEAN
On 16 February, the Guatemalan government announced a deal with private sector representatives which aims to increase the value of exports and attract new foreign direct investment (FDI)...
There have certainly been countries that have been hit harder than Jamaica by the effects of the coronavirus (Covid-19) pandemic, but for few can the blow have been so cruel...
PANAMA | FTA with South Korea takes effect...
MEXICO & USMCA
On 2 March Canadian mining company First Majestic filed a request for arbitration at the World Bank’s International Centre for Settlement of Investment Disputes (ICSID)...
On 16 February Mexico’s national council of evaluation of social development policy (Coneval) revealed that a reduction of 2.5% in real labour income recorded between the fourth quarter of 2020 and the same quarter in 2019 produced an increase in labour poverty...
On 20 February Mexico’s federal audit office (ASF), which is attached to the federal chamber of deputies, published its analysis of public expenses carried out during 2019...
At the end of February Mexico’s state-owned oil company Petróleos Mexicanos (Pemex) released production data and financial results for the whole of 2020...
FDI slumps: On 18 February, Mexico’s economy ministry (SE) released preliminary figures on foreign direct investment (FDI) to the country in 2020, which show that FDI totalled US$29bn last year, an 11.7% drop on the amount received in 2019...

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