Guest view: Latin America has a Covid-19 cash gap 16 Oct 2020 Economic weakness has helped make the region’s health crisis one of the world’s worst, write former Citibank Chairman William Rhodes and epidemiologist Cristina Valencia. Even if a vaccine arrives, the recovery will demand more direct funding from the international community.
Corona Capital: Latin America and Covid-19 8 Apr 2020 Concise views on the pandemic’s corporate and financial fallout: Six Latin American countries want a $15 billion loan to help fight Covid-19. "There's no harm in trying" says Peru's president, a sad sentiment reflecting the global shortage of needed equipment.
Macri’s likely defeat a warning to LatAm reformers 25 Oct 2019 Argentines are expected to oust would-be reformer Mauricio Macri in Sunday’s elections, which follow weeks of violent protests across the region. In the post-commodity-boom era, Latin American reformers need to find a new identity that is neither leftist nor too austere.
Latin America’s pro-market forces need young blood 22 Mar 2018 Pedro Pablo Kuczynski, a 79-year-old ex-banker, has resigned as Peru’s president amid graft allegations. His junior by two years, Brazil's Michel Temer, has failed to deliver key pension reforms to spur the region’s biggest economy. Latin populism needs more vigorous enemies.
Chile reinforces Latin American pro-business pivot 18 Dec 2017 Billionaire Sebastian Piñera won the copper-rich nation's presidential election with a stronger showing than expected. That will lend succor to like-minded leaders in Argentina, Brazil and Peru for whom fiscal discipline is proving a long slog and graft allegations a danger.
Review: The next fight for Latin America’s soul 17 Nov 2017 Dictators and demagogues have come and gone; progress in the region has been impressive. Still, rule of law and effective institutions still lack, Michael Reid writes in "Forgotten Continent." That makes the next steps toward prosperity harder.
Latin America trumps populism – for now 22 Feb 2017 Ecuadoreans denied a first-round election victory to their leftist president's chosen successor. As in Brazil and Argentina, that opens the door to a traditional pro-business candidate. But growing U.S. demagoguery gives the region's politicians an excuse to ramp up nationalism.
Peru lights less populist path for Latin America 17 Oct 2016 New President Pedro Pablo Kuczynski combines business nous with patrician polish, a mashup of Argentina's and Brazil's leaders. Unlike them, though, he inherited a copper-fueled economy that leads the region in growth, giving him leeway for reforms and the fight against poverty.
Peru rides Latam wave against populism 6 Jun 2016 The Andean nation is poised to narrowly pick Wall Street favorite Pedro Pablo Kuczynski as its next president. It would be another welcome shift away from the region’s more magical but ruinous political ideologies. U.S. voters and ones elsewhere would do well to heed the history.
Peru’s presidential vote bodes well for economy 11 Apr 2016 Investors cheered the Andean nation’s inconclusive election, which left front-runner Keiko Fujimori in a runoff against pro-business economist Pedro Pablo Kuczynski instead of a leftist legislator. The outcome underlines rising rejection of failed Chavista policies in the region.
Peru could use legal tip from Brazil or Argentina 21 Jan 2016 The Andean nation beats neighbors economically but may lag on the legal front. A court scandal over land-reform bonds has hedge fund Gramercy and others crying foul. Rio and Buenos Aires are learning market confidence comes easier with independent judges and a wish to negotiate.
Cox: Peru a governance test shy of frontier status 20 Oct 2015 For an economy set to best its main Latin rivals, Peru’s stock market is so messy MSCI may soon downgrade it to Nigeria and Pakistan levels. Thanks to a sweetheart deal Coca-Cola has launched that shafts investors, Peruvian authorities have a chance to show capital is welcome.
Peru faces year in economic limbo 9 Apr 2015 Growth has slowed as President Ollanta Humala approaches his last few months in office. It’s an unfortunate turn of events after his unexpected moderation kept the $200 bln economy pumping. But the “all-seeing warrior” will at least leave Peru in better shape than many neighbors.
Puzzling Peruvian slump requires patience 15 Sep 2014 President Ollanta Humala abruptly replaced his finance minister amid an economic slowdown. Commodities prices, overspending, the currency and foreign investment are not obvious problems. The political shake-up may buy enough time till Humala’s pragmatic policies start to work.
U.S. is minimum-wage laggard given its prosperity 3 Mar 2014 With Washington considering a higher pay floor and Peru’s prime minister losing his job over the issue, a Breakingviews analysis shows global minimum wages as a percentage of per-capita GDP vary widely. By this measure, the U.S. and, say, Mexico have plenty of space to lift pay.
Peru swaps Brazil’s oil loser for China’s 13 Nov 2013 Petrobras is selling fields that pump about 16 pct of the tiny nation’s crude to PetroChina. Little distinguishes the two state-controlled titans. The inefficient Chinese group has lost $750 bln of market value in six years. Peru shouldn’t expect much of a partnership upgrade.
Latin America has more to fear than Fed itself 16 Sep 2013 Declining growth rates present the worst contagion problem. An interactive Breakingviews analysis suggests Venezuela and Brazil are most vulnerable, with Mexico and Argentina less so. The region’s politics and more homogenous profile than Asia leave it exposed in other ways.
Paying old debts would set Peru on right track 29 Jul 2013 Peru’s 1970s land reform bonds have become cheap fodder for speculators. But as with U.S. revolutionary war debt and frozen Yugoslavian savings in the 1990s, a genuine effort to pay off creditors can earn a government valuable market confidence. Lima should try it.
President’s pragmatism paying dividends for Peru 2 May 2013 Ollanta Humala’s social programs and support for indigenous peoples please his supporters, but he has also welcomed foreign investment and may be rolling back an expensive mining consultation law. The strategy has critics, but could keep Peru on an enviable growth trajectory.
Peru’s Humala looks tough yet pro-market a year in 23 Jul 2012 The once-feared leftist president has shown a heavy hand to social unrest. But Humala’s sensible economic policies have fueled 5 pct GDP growth and a solid equity market. He has also sided with foreign investors against mining protesters. Far from Chavez, he may be the new Lula.