LatAm Navel Gaze: December 14, 2017

Ligia Vela-Reid  Follow

  • Earlier this week, Argentina raised the export tax on biodiesel to 8%, from the current zero rate, in what is believed to be a signal to the United States, which recently sanctioned the import of biodiesel from the South American country.
  • On Tuesday, a Brazilian appeals court said it would decide on January 24th on former President Luiz Inacio Lula da Silva appeal against a corruption conviction that could bar him from running in the 2018 presidential race.
  • Brazilian startup Creditas is revolutionizing credit in the world’s third largest lending market by providing collateralized loans with charges between 17%-50%. Creditas makes money via loan origination fees, servicing fees; and return on investment for the junior tranches in the funds that supply the loans.
  • According to JP Morgan, the economic growth of Mexico in 2018 will be similar to that of 2017, with a lower domestic consumption, due to the loss of purchasing power, but offset by strong external demand, which will be driven by a competitive exchange rate. The bank estimates that the Mexican economy will grow 2.1 and 2.2% in 2017 and 2018, respectively.
  • On Wednesday, the president of the Central Bank of Peru, Julio Velarde, said that the country’s inflation will be 1.4% by the end of the year, lower than the projected 1.8% rate. Peru has one of the most moderate inflation rates in Latin America, with this year’s inflation way below the 3.2% registered last year for the country. 

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