Latin American Economy & Business

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Economy & Business - October 2026

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Ilya Espino de Marotta has taken over as administrator of the Panama Canal Authority (ACP) at a time when the Canal is facing myriad challenges, mitigated in the short-term by increased revenues due to high transit prices. Espino de Marotta took up her post on 7 September, becoming the first woman to hold the position after previously serving as chief sustainability officer and deputy administrator during a four-decade career at the ACP.

Economy & Business - September 2026

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LEADER
- Colombian earthquake tests De la Espriella’s fiscal commitment
ANDEAN COUNTRIES
- PERU: New gov’t focuses on disaster preparedness
- BOLIVIA: No policy U-turns expected under new finance minister
- ECONOMIC HIGHLIGHTS
BRAZIL & SOUTHERN CONE
- BRAZIL: Opposing election proposals to fix the economy
- BRAZIL: Batista family resumes management of JBS amid challenges
- ARGENTINA: Milei to fix central bank instead of shutting it
- CHILE: Codelco retains 100% of profit to deal with debt challenge
- ECONOMIC HIGHLIGHTS
CENTRAL AMERICA & CARIBBEAN
- GUATEMALA: New port authority part of infrastructure modernisation drive
- PANAMA: Growing speculation over major mine reopening
- REGION: Two or even three-speed growth expected
- TRINIDAD & TOBAGO: Shell and NGC fail to agree on Aphrodite project
- ECONOMIC HIGHLIGHTS
MEXICO & USMCA
- MEXICO: FDI hits historic high, but new investments fall
- MEXICO: Gov’t looks to Asia to diversify
- MEXICO: Challenges remain as US border reopened to livestock
- ECONOMIC HIGHLIGHTS

Seven weeks after northern Venezuela was devastated by powerful earthquakes, neighbouring Colombia was hit by a similar magnitude tremor.

Economy & Business - August 2026

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LEADER
- Major blow for Mexico as US refuses to extend USMCA
ANDEAN COUNTRIES
- VENEZUELA: Earthquake devastation threatens economic recovery
- BOLIVIA: Gov’t tallies economic impact of protests
- ECUADOR: Severe El Niño could impact crucial shrimp industry
- ECONOMIC HIGHLIGHTS
BRAZIL & SOUTHERN CONE
- BRAZIL: US tariffs that could have been worse for Lula
- REGION: South America eyes open skies accord
- ARGENTINA: Government reassures markets foreign debt can be paid
- ECONOMIC HIGHLIGHTS
CENTRAL AMERICA & CARIBBEAN
- REGION: Foreign direct investment falls slightly
- NICARAGUA: Debt rising but credit rating remains stable
- TRINIDAD & TOBAGO: Business and the state of emergency
- HAITI: Is investment the way?
- ECONOMIC HIGHLIGHTS
MEXICO & USMCA
- MEXICO: Gross fixed capital formation rebounds
- MEXICO: World Cup tourism numbers present a mixed picture
- ECONOMIC HIGHLIGHTS

On 1 July the US government opted not to renew the US-Mexico-Canada Agreement (USMCA) for another 16 years.

Economy & Business - July 2026

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LEADER
- Brazil’s Lula ramps up fiscal stimuli ahead of election
ANDEAN COUNTRIES
- COLOMBIA: De la Espriella faces uphill battle to lift the economy
- PERU: Fujimori wins the presidency on her fourth attempt
- ECONOMIC HIGHLIGHTS
BRAZIL & SOUTHERN CONE
- CHILE: Kast abandons fiscal targets as economy slows
- URUGUAY: Orsi targets red tape to help kickstart economy
- ARGENTINA: Education spending boost belies economic malaise
- ECONOMIC HIGHLIGHTS
CENTRAL AMERICA & CARIBBEAN
- REGION: Tourism sector continues to grow
- HONDURAS: Energy reform draws international support but domestic criticism
- SURINAME: Preparing for wealth
- ECONOMIC HIGHLIGHTS
MEXICO & USMCA
- MEXICO: World Cup economic boost blunted by protests
- MEXICO: Pemex and Petrobras to join forces
- MEXICO: Banxico set to keep rates on hold until end of year
- ECONOMIC HIGHLIGHTS

The last time that President Luiz Inácio Lula da Silva opened the public purse strings to boost the electoral chances of his ruling Partido dos Trabalhadores (PT), the economy grew by a whopping 7.5%.

Economy & Business - June 2026

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LEADER
- Fears mounting in Central America over El Niño forecast
ANDEAN COUNTRIES
- VENEZUELA: Daunting debt restructuring process awaits
- BOLIVIA: Paz clings on amid weeks of protests
- ECONOMIC HIGHLIGHTS
BRAZIL & SOUTHERN CONE
- CHILE: Kast off to a rocky start in first 100 days
- CHILE: Economist takes the reins at Codelco
- BRAZIL: Balancing resource nationalism with attracting investment
- BRAZIL: EU to ban Brazilian meat despite Mercosur deal
- ECONOMIC HIGHLIGHTS
CENTRAL AMERICA & CARIBBEAN
- COSTA RICA: Fernández confirms electric train as part of economic plans
- CUBA: Power failure
- JAMAICA: Oil – blessing or curse?
- ECONOMIC HIGHLIGHTS
MEXICO & USMCA
- MEXICO: Mexico and US begin USMCA talks without Canada
- MEXICO: Gov’t faces credit rating downgrades
- MEXICO: Mexico signs updated trade deal with EU
- ECONOMIC HIGHLIGHTS

Increasingly confident forecasts that the El Niño weather phenomenon will develop this year have sparked widespread concerns in northern Central America, particularly in the arid so-called ‘Dry Corridor’. The World Meteorological Organization (WMO) is now predicting that there is up to an 80% chance that El Niño develops in the next few months, and there is even a chance of a “Super El Niño,” which would be even more intense.

Economy & Business - May 2026

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LEADER
- Venezuela: A new mining El Dorado?
ANDEAN COUNTRIES
- BOLIVIA: Further upheaval in the energy sector
- REGION: Steel sector raises concerns with Andean Community
- ECONOMIC HIGHLIGHTS
BRAZIL & SOUTHERN CONE
- ARGENTINA: Deregulation reaches the top of the Andes
- ARGENTINA: Milei bags victory in YPF nationalisation case
- PARAGUAY: Peña pivots away from austerity with ministerial change
- BRAZIL: Lula aims to fix INSS as election pressure mounts
- ECONOMIC HIGHLIGHTS
CENTRAL AMERICA & CARIBBEAN
- EL SALVADOR: AI telemedicine programme expands to cover chronic illnesses
- NICARAGUA: New US sanctions test gold mining strategy
- PANAMA: Iran conflict drives windfall as Canal transit price spikes
- REGION: War in Iran hits island economies
- CUBA: More sanctions
- DOMINICAN REPUBLIC: Abinader puts gold on hold
- ECONOMIC HIGHLIGHTS
MEXICO & USMCA
- MEXICO: Mexico resorts to fracking to boost energy sovereignty
- MEXICO: Gov’t seeks to boost domestic steel industry
- MEXICO: US watch list downgrade seen as positive sign for USMCA review
- ECONOMIC HIGHLIGHTS

In a move that echoed the opening up of Venezuela’s hydrocarbon industry earlier this year, on 9 April the national assembly approved sweeping legislation aimed at transforming a mining sector plagued by illegality and environmental degradation into a hub for the West’s critical mineral supply chains. The law, which passed with unanimous support in the legislature after weeks of wrangling, is part of the economic opening orchestrated by President Delcy Rodríguez in an awkward tightrope act that seeks to balance the socialist legacy of her predecessors, Nicolás Maduro (2013-2026) and Hugo Chávez (1999-2013), with the interests of the US government that captured Maduro in January and is seeking to benefit from Venezuela’s natural resources. The law seeks to formalise a sector that has long been dominated by informal, often criminal, activities and to provide the legal certainty required by deep-pocketed institutional investors from North America and Europe.

Economy & Business - April 2026

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LEADER
- Mexico, region face up to rising fuel prices
ANDEAN COUNTRIES
- VENEZUELA: US deepens détente with Caracas to speed up oil exports
- ECUADOR: Noboa angers local governments with unusual spending rule
- BOLIVIA: Paz seeks stronger Brazil ties in Lula meeting
- ECONOMIC HIGHLIGHTS
BRAZIL & SOUTHERN CONE
- BRAZIL: Finance minister leaves mixed legacy on economy
- ARGENTINA: The risk of Milei’s shock economic opening
- PARAGUAY: Peña notches public finance win with pension reform
- ECONOMIC HIGHLIGHTS
CENTRAL AMERICA & CARIBBEAN
- REGION: Fuel price increases give governments hard choices
- HONDURAS: Public spending law hands Asfura new powers
- REGION: Searching for agreement on labour migration
- ECONOMIC HIGHLIGHTS
MEXICO & USMCA
- MEXICO: Ambitious infrastructure plan gets positive reception
- MEXICO: Volaris-Viva Aerobus merger moves ahead
- ECONOMIC HIGHLIGHTS

Despite being a major producer of crude oil, Mexico’s President Claudia Sheinbaum has been forced to take concerted action to cushion the blow from surging international energy prices caused by the conflict in the Middle East.

Economy & Business - March 2026

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LEADER
- Boost for Milei with labour reform in Argentina
ANDEAN COUNTRIES
- COLOMBIA: Legislative elections divide congress and muddle presidential race
- ECUADOR: New law aims to turbocharge mining sector
- PERU: Chancay megaport becomes focus of US-China tensions
- BOLIVIA: Latest fuel crisis sparked by contamination issue
- ECONOMIC HIGHLIGHTS
BRAZIL & SOUTHERN CONE
- BRAZIL: Lula makes work-week reduction a campaign promise
- PARAGUAY: Peña’s reform course shows results
- URUGUAY: Modest growth and rising debt under Orsi despite tailwinds
- ECONOMIC HIGHLIGHTS
CENTRAL AMERICA & CARIBBEAN
- EL SALVADOR: Bitcoin crash impacts debt markets and relations with IMF
- REGION: Record remittances to northern Central American nations in 2025
- PANAMA: US$3bn bond sale in first under Mulino
- CUBA: Diesel travels by tank
- GUYANA: Largest budget yet
- ECONOMIC HIGHLIGHTS
MEXICO & USMCA
- MEXICO: El Mencho killing risks long-term economic impacts
- MEXICO: Disappointing growth in 2025 despite Q4 boost
- MEXICO: Banxico pauses rate-cutting cycle
- MEXICO: Citi to sell a further stake in Banamex ahead of IPO
- ECONOMIC HIGHLIGHTS

President Javier Milei scored one of his biggest victories yet when congress approved his sweeping labour reform in late February.

Economy & Business - February 2026

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LEADER
- Longer-term factors behind Cuba’s economic collapse
ANDEAN COUNTRIES
- VENEZUELA: New law reopens oil industry to private sector
- ECUADOR/COLOMBIA: Noboa unleashes Trump-style tariff war to prod Petro
- PERU: Petroperú faces restructuring
- BOLIVIA: Good news and bad
- ECONOMIC HIGHLIGHTS
BRAZIL & SOUTHERN CONE
- REGION: More possible roadblocks for EU-Mercosur deal
- BRAZIL: Rare earth giant wakes as minerals race heats up
- CHILE: Miners’ enthusiasm eases as Kast snubs cabinet hopes
- ECONOMIC HIGHLIGHTS
CENTRAL AMERICA & CARIBBEAN
- HONDURAS: Asfura promises new economic direction
- COSTA RICA: Chaves leaves mixed economic picture for successor Fernández
- ECONOMIC HIGHLIGHTS
MEXICO & USMCA
- MEXICO: Mexico hails “record” tax take in 2025
- MEXICO: USMCA trade talks begin ahead of July deadline
- MEXICO: Grupo Carso deepens involvement in oil sector
- ECONOMIC HIGHLIGHTS

Cuba faces multiple crises: oil imports have halted, following the US’ removal of Venezuela’s former president Nicolás Maduro (2013-2026) and subsequent threat of tariffs on other oil suppliers; the power grid only operates at half its capacity; and there are food and foreign currency shortages.

Economy & Business - January 2026

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LEADER
- The long path to rebuilding Venezuela’s broken economy
ANDEAN COUNTRIES
- BOLIVIA: Paz lands partial victory after fuel subsidy fight
- ECONOMIC HIGHLIGHTS
BRAZIL & SOUTHERN CONE
- CHILE: Kast expected to moderate radical right-wing agenda
- BRAZIL: Bank collapse uncovers political, regulatory, market issues
- ARGENTINA: Milei bills advance in congress with writeoffs
- ECONOMIC HIGHLIGHTS
CENTRAL AMERICA & CARIBBEAN
- GUATEMALA: Setback for gov’t as CC suspends 2026 budget
- NICARAGUA: US imposes phased-in tariffs following trade investigation
- EL SALVADOR: Bukele gov’t announces AI education partnership with Elon Musk
- CUBA: New devaluation fails to convince the markets
- HAITI: Economic recovery on the agenda
- REGION: Tough year ahead?
- ECONOMIC HIGHLIGHTS
MEXICO & USMCA
- MEXICO: Tariffs on China take effect
- MEXICO: Airline merger to face close regulatory scrutiny
- MEXICO: Sheinbaum moves on labour law overhaul
- ECONOMIC HIGHLIGHTS

Celebrations were largely absent in the streets of Caracas after the dramatic US raid to arrest former president Nicolás Maduro (2013-2026) on drug and weapons charges on 3 January.