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Struggling to control Covid-19 and obtain vaccines, Latin American governments are hoping commodities exports will pull them through. This year is shaping up to be one of the most challenging in decades for Latin America. Optimism stemming from the positive growth of the fourth quarter of 2020 bumped up against a second wave of Covid-19 infections in the first months of 2021, reducing space for fiscal action. That makes it uncertain whether governments can maintain policies in support of the most vulnerable people and small companies while also amassing an adequate volume of vaccines, a key element for economic recovery. Nations in the region are focused on boosting their competitive sectors, especially the commodity exports’ rising prices, although some are engaged in tax, fiscal, judicial and administrative reforms that could diminish their attractiveness to business in a post-pandemic era. The Andean nations are looking to increase revenue from their mining and oil/gas sectors, as tourism isn’t expected to return in the short term. Brazil and Argentina are clinging to their agribusiness production, as the manufacturing and services sectors still walk a tightrope. Mexico hopes to benefit from implementation of the new United States-Mexico-Canada Agreement on trade. Happily, the region […]
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