Trade deal with EU huge boost for South American bloc
The historic trade agreement signed Friday in Brussels is a massive shot in the arm for the four-nation South American bloc known as Mercosur. The trade alliance grouping Argentina, Brazil, Paraguay, and Uruguay has struggled for momentum since it was set up in 1991. Though the agreement eliminates tariffs against the EU in key sectors, the bloc still has to get its own house in order, according to analyst Nicolas Albertoni of the University of Southern California. “Nearly 30 years after its creation…
Paraguay, Peru and Chile star economies of 2018 and 2019: report
By 2019, the highest growth in the region is projected for the economy of Paraguay, with 4.3%, followed by Peru (3.9%) and Chile (3.7%), according to a report by BBVA Research. In Argentina, a “significant” recession is anticipated. The Latin American economy will grow 0.9% on average this year due to the weak performance of countries such as Argentina, Brazil, Mexico, and Uruguay, with which the expected recovery of the region will be postponed until 2019, the report said. The new projection of the Spanish…
An economic snapshot of Latin America for 2013
An economic snapshot of Latin America for 2013 LatinFocus Consensus Forecast panelists expect regional GDP to expand 3.7% this year, following an estimated 2.9% increase recorded in 2012. The stable figure reflects rosier prospects for Chile, Paraguay, Peru and Venezuela, which were offset by downward revisions to Brazil, Colombia and Uruguay. Meanwhile, growth estimates for Argentina, Bolivia, Ecuador and Mexico were left unchanged over December. For next year, the panel sees regional growth accelerating to…
