Important Headlines
📰 E-Commerce Outlook for Latin America
Outline retail sales growth is expected to slow down to 13.4% in 2023 in Latin America. Down from 24.7% growth in 2022. Brazil is the largest e-commerce market in LATAM, followed by Mexico and then Argentina. Obstacles facing online retailers are high logistics costs, poor infrastructure, and regulatory challenges.
📰 Why are Latin American Workers so Strikingly Unproductive?
The controversial Economist headline had some small-minded individuals and groups hurling racism charges, as well as other ridiculous claims, against the Economist. Blamed for Latin America’s poor historic economic performance are education, corruption and a huge shadow economy.
📰 Exxon Seeks to Recover Investment as Colombia Bans Fracking
The American energy company is hoping to be compensated for the Colombian government’s policy reversals on fracking.
📰 Colombia’s Far-Left Leader Delivers the Paralysis Markets Want
Colombia, Chile, Mexico, Brazil and Argentina are the leading economies in LATAM and all presently led by far-left leaders. In Colombia’s case, recent scandals have crippled the out-of-touch policies of President Petro, having the immediate effect of the Colombian peso appreciating over 10% against the dollar in the last month. The best bet for the country now seems to be a lame duck Presidency, during the next three years, and then a return to growth-oriented policies under new leadership.
📰 Toyota Investing $328 Million in Mexico Plant
The major expansion of the Mexican plant for the Japanese carmaker will permit it to build the new hybrid Tacoma Truck.
📰 LATAM’s Largest Fintech Investing $159 Million in Colombia
The Brazilian digital bank, Nubank, already has 635k credit card customers in Colombia, representing a 3.6% market share. It has around 80 million clients in Brazil, Mexico and Colombia.
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