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Economy & Business - November 2021

LEADER
President Andrés Manuel López Obrador has submitted a constitutional reform proposal to the federal chamber of deputies to overhaul Mexico’s electricity industry by dismantling a section of the 2013 reform that opened up the energy sector to private capital...
ANDEAN COUNTRIES
Along with Panama, that most geographically strategic of Latin American nations, the US State Department wooed Colombia and Ecuador in October with Build Back Better World (B3W), a G7-led infrastructure development scheme seen as a rival to China’s Belt and Road Initiative (BRI)...
During the 2021 presidential election campaign, President Guillermo Lasso promised that his government would create 2m jobs over its four-year term...
After eight years of recession and hyperinflation, there are some signs that the Venezuelan economy may be near to rebounding from its catastrophic decline...
Bolivia’s minister of the presidency, María Nela Prada, announced on 14 October that the government would be withdrawing a bill designed to strengthen the powers of its financial investigations unit (UIF) to prevent money laundering...
PERU | Downgraded by Fitch...
BRAZIL & SOUTHERN CONE
There are seven presidential candidates competing in Chile’s first-round ballot due on 21 November, with the election likely to go to a second-round run-off vote on 19 December...
Latin America’s national oil companies (known as NOCs) are often criticised, particularly when they lose money...
Ahead of congressional elections due on 14 November, shortly after this issue went to press, Argentina’s economic policy was in a state of drift, amid contradictory signals on negotiations with the International Monetary Fund (IMF), a new price freeze, and growing fears of renewed speculative attacks on the Argentine peso...
BRAZIL | Economic outlook dims...
CENTRAL AMERICA & CARIBBEAN
Costa Rica’s fiscal deficit has fallen over the course of the year, earning praise from the International Monetary Fund (IMF), but some worry progress may not last...
Panama’s President Laurentino Cortizo came to power in July 2019 after campaigning on an anti-corruption platform, but critics say a lack of progress is affecting the business environment...
In our October issue [EB-21-10] we reported in brief on the call by United Nations (UN) Secretary General António Guterres to address the developing crisis of debt distress, which he described at the 15th session of the UN Conference for Trade and Development (Unctad) as the “dagger through the heart of global recovery”...
*** BAHAMAS PLEDGES TO KEEP VAT AT 10%...
GUATEMALA | Signing an FCPF...
MEXICO & USMCA
On 22 October Mexico’s national statistics institute (Inegi) reported that inflation grew by 0.54% during the first two weeks of the month...
On 11 October private gas suppliers carried out protests in more than a dozen locations across Mexico City (CDMX) against price caps imposed by Mexico’s federal energy regulatory commission (CRE)...
On 16 October President Andrés Manuel López Obrador signed a decree to regularise used cars imported illegally from the US...
MEXICO | Lobby warns on food self-sufficiency...

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