Jaime Perez-Seoane de Zunzunegui: ALL BLOG POSTS
With the Argentine peso in free fall, the beginning of May was a tumultuous time for the country. Even though the central bank continued to sell its reserves and raise interest rates, the depreciation of the currency appeared unstoppable.
Against the backdrop of broader fiscal reform being carried out in the country, the results of the inaugural Oxford Business Group Business Barometer: Argentina CEO Survey highlight several facets of the local business environment that C-suite executives see as in need of improvement. For example, 96% of respondents consider the country’s current tax environment to be uncompetitive or very uncompetitive on a global scale, while 59% describe the ease of accessing credit as difficult or very difficult.
Largely thanks to the recovering prices of some key commodities, the region recorded a positive first quarter in 2018, with the IMF forecasting Latin America and the Caribbean’s GDP growth for the year to reach 2%. Currency volatility remains among the primary challenges, however, offsetting some gains. The economy is thus centre stage in countries headed to the polls this year, potentially ushering in a period of economic transformation in several of the region’s major players.