TAG: Colombia
The last quarter of 2017 surprised even the most optimistic observers. However, the positive performance of that period does not preclude a sense of uncertainty for 2018, a year that will likely prove decisive for the region.
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.
In the face of a rising US dollar and a global trend towards protectionism that affects some of the globe’s globe's major economic powers, the leading markets of Latin America find themselves with an opportunity to work on enhancing regional trade.