Latam Monthly Economic Report - May 2024

May 2024

  • By
  • May 20, 2024
  • EM Latam Argentina Chile Colombia Mexico Peru
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  1. Argentina
  • Lower House approved a diluted version of the omnibus and fiscal bills
  • Senate might water them down further
  • Economic figures continue posting good numbers, helping for the approval of the 8th revision with the IMF
  • But, there is still political resistance


  1. Chile
  • CLP benefitted by copper prices and a hawkish BCCh
  • Inflation came better-than-expected, but risks remain
  • Positive prospects of growth


  1. Colombia
  • Reforms being discussed in the Congress, but president Petro has challenges to progress on it
  • Activity is struggling to recover
  • Inflation downward trend keeps BanRep reducing the policy rate


  1. Mexico
  • Presidential election is approaching
  • GDP is poisoned to grow
  • MXN very sensitive to FED fund rate uncertainty


  1. Peru
  • President Boluarte relatively safe in power against all odds
  • Economic growth limited by political uncertainty that affect reforms approval and investments
  • Negative rating actions have been taken

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