Latin American Keys is an informative and analytical summary regarding the political and economic situation in the Latin American region. These key takeaways, prepared monthly by ATREVIA´s Analysis and Research team, serve to be a useful tool in understanding the evolution of the political-institutional state of Latin America.
Latin American political activity has been characterized by the presentation or approval of important legislative initiatives, while the economic situation has remained relatively stable.
Javier Milei’s government’s attempt to restructure the Argentine state has faced obstacles ranging from street demonstrations to obtaining the necessary parliamentary support. Meanwhile, inflation continues to rise and the poverty rate has reached 57%.
Chile expects to reach its 3% inflation target by mid-year, but its currency is one of the most depreciated in the region, down 8.25% so far in 2024. On the other hand, the Colombian peso remains below COP 4,000 to the dollar after a period of appreciation. This monetary stability is not reflected in the political arena, due to the controversy surrounding the election of a new Attorney General.
Former Peruvian President Pedro Castillo faces a possible 34-year prison sentence for the 2022 coup attempt. At the same time, Jair Bolsonaro is under investigation for his involvement in similar events in the Brazilian capital last year and has been forced to surrender his passport.
Ecuador remains in a state of internal armed conflict, and government measures have led to a high level of public acceptance of President Daniel Noboa’s administration. Insecurity is also a growing problem in Uruguay, but on a positive note, the World Bank has revised upwards its GDP growth forecast for 2024 to 3.2%.
Finally, Mexico regained its position as the United States’ largest trading partner and President Andrés Manuel López Obrador presented a comprehensive package of constitutional reforms and amendments.