Despite moderately reducing its growth in previous months, inflation is again accelerating in Latin
America. Its impact on fuel and food prices is causing widespread social unrest in the Latin American region. The number of positive Covid-19 cases has also once again risen but has not increased
the number of hospitalizations or deaths. The situation has led several countries to reintroduce
health measures, including the mandatory use of face masks in some instances.
Regarding politics, the president of Peru, Pedro Castillo, has been left without vital support in the
Legislative after announcing his resignation from the party that brought him to power. This is a
complicated position shared by the president of Ecuador after the National Assembly was on the
verge of removing him from office due to the indigenous strike that lasted 18 days.
In Colombia, Petro’s cabinet members are gradually being revealed while the peso continues to
depreciate in relation to the dollar. This is also the case for the Chilean currency, where a new constitution is already prepared and will soon be voted on in a referendum.
Instability continues to dominate politics in Argentina due to the differences between the president
and the vice-president, and a day of protest against the Government has been scheduled. Meanwhile, in Brazil, political polarization worsens in the face of the presidential elections, with Lula da
Silva leading the polls.
Mexican President Andres Manuel Lopez Obrador met with his U.S. counterpart Joe Biden, calling
for the regularization of migrant workers in the neighboring country. The Dominican Republic’s
economy is resilient despite the current situation, growing by 5.6% in the first five months of the
year.