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Economy & Business - December 2021

LEADER
Long-running Peruvian mining conflicts intensified between October and December, with protesters forcing an indefinite suspension of operations at the Las Bambas copper mine in the Apurímac region...
ANDEAN COUNTRIES
At Colombia’s tightly packed pavilion at the United Nations COP26 climate talks in Glasgow on 1 November, President Iván Duque presented the country’s long-term plan to neutralise its carbon emissions...
In late October, Ecuador’s President Guillermo Lasso suspended the progressive reductions in fuel subsidies which have been taking place monthly since July 2020, bowing to pressure from unions, the agricultural sector and, most importantly, the indigenous movement Confederación de Nacionalidades Indígenas del Ecuador (Conaie)...
BOLIVIA | Industrialising lithium extraction...
BRAZIL & SOUTHERN CONE
In its first year, the contactless Pix payments system launched by Brazil’s central bank (BCB) has enjoyed explosive growth and is having a major impact on the Brazilian economy...
Brazil’s long delayed 5G mobile spectrum auction took place on 4 and 5 November, and 5G mobile services could be available in some cities by July next year...
Speaking at the beginning of December, Economy Minister Azucena Arbeleche was upbeat about economic performance in 2021 and the outlook for 2022...
In late October officials at Paraguay’s finance ministry said GDP growth was likely to come in higher than expected in 2021, at 4.5%...
As the international lithium boom continues, more companies, including Russian and Chinese players, are seeking to invest in northern Argentina...
BRAZIL | Government revises employment figures...
CENTRAL AMERICA & CARIBBEAN
In November El Salvador hosted a series of bitcoin events, building on its adoption of the cryptocurrency as legal tender in September, a move which has sparked protests at home and alarm among international observers...
The new president of Honduras, who takes office in January 2022, is poised to take over a country facing massive economic challenges...
Trinidad & Tobago’s finance minister, Colm Imbert, has sought to justify the country’s policies despite the 23 November downgrade by international credit ratings agency Moody’s from Ba1 to Ba2...
COSTA RICA | Gov’t hails fiscal progress but cites room for improvement...
MEXICO & USMCA
On 12 November, Mexico’s national social security institute (IMSS) reported that there were 172,668 new formal jobs created in Mexico during October...
On 9 November, Mexico’s national statistics institute (Inegi) published a report that measures the growth of the middle-class in Mexico over the last decade...
A report published on 17 November by the World Bank (WB) and the Global Knowledge Partnership on Migration and Development (KNOMAD) highlights that growth in remittance flows in 2021 has been exceptionally strong in Latin America and Caribbean...
On 19 November, President Andrés Manuel López Obrador attended the IX Summit of North American Leaders alongside his US President Joe Biden and Canada’s Prime Minister Justin Trudeau...
MEXICO | New IMF credit line approved...

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