Mexico’s economy experienced its first quarterly decline in three years, posting a modest contraction of 0.2% in the second quarter of 2016. Economic performance was impacted by falling oil prices, government budget cuts, and a decline in output at state oil company Petróleos Mexicanos (Pemex)....

Brazil’s economic performance continues to be strained by political turmoil and the widespread corruption and money-laundering scandal involving state-run oil company Petróleo Brasileiro SA (Petrobrás) and other state-owned companies. Brazil’s economy contracted for a fifth consecutive quarter in Q1 2016 amid the country’s deepest recession...

Over the past several months, three potential solutions have taken shape to help deal directly with Puerto Rico’s US $72 billion debt crisis. First, Governor Alejandro García Padilla established an internal working group to negotiate directly with creditors, which has made modest progress. Second, U.S....

Latin America and the Caribbean’s regional economy contracted an estimated 0.3% in 2015, down from growth of 1.3% in 2014, according to the IMF. Regional GDP is projected to contract another 0.3% in 2016. Declining commodity prices, China’s slowdown, the collapse in the price of...

Mexico and Cuba recently announced several new agreements in an effort to strengthen ties and improve relations. While the countries had a strained relationship under Mexico’s two previous administrations (2000 – 2012), a recent formal state visit by Cuban President Raul Castro to Mérida, Yucatán...

Brazil’s economy is expected to contract by as much as 3.0% in 2015 and 1.0% in 2016, according to the IMF. In August, the country entered into a recession after reporting two consecutive quarters of negative growth. Brazil’s GDP shrank 1.9% between April and June...

Puerto Rico’s Public Finance Corporation (PFC) missed most of a US $58 million bond payment due August 1st, the first default by the commonwealth in what may become one of the largest restructurings ever in the municipal market. Puerto Rico has about $5 billion in...

By: Raymond A. Perez Latin America and the Caribbean’s regional economy grew an estimated 1.1% in 2014, its slowest rate of expansion since 2009 and down from 2013’s 2.7% growth, according to the United Nations Economic Commission for Latin America and the Caribbean (ECLAC). GDP is...

By: Eugene Rostov The international media provides new information almost daily about the details of the Pétrobras scandals known in Brazil as the Petrolão, which have caused not only a dramatic fall in the stock market price of the company, but also the downgrading of its...

By: Roberto Erana The decline in the price of oil, over 55% during the last six months to below US $50 per barrel, brings important economic and political implications to Latin America. Most negatively affected are oil producers such as Venezuela, Colombia and Ecuador, which rely...