Colombia began 2019 with a raft of tax and fiscal reforms designed to stimulate local and foreign investment, though there are concerns that some of the measures may hinder growth in the short to medium term. Headlining the changes in the Financing Law, which came into effect on January 1, 2019, is the progressive reduction of corporate income...
The political landscape in Colombia is rather complex, a result of the convoluted evolution that gave rise to the system as it stands today. In addition, the violent conflicts that gripped the country for decades, while partially resolved, still continue to exercise a defining influence on national politics.
Colombia constitutes a distinctive blend of ethnicities, cultures and geography. It has the second-largest population in South America and is the continent’s fourth-largest country. With two coasts on two different oceans, it is located at a natural crossroads between the Caribbean, Central and South America. In spite of its heavy focus on...
Peru has made progress in reducing its fiscal deficit, bringing it down from 3.1% of GDP in 2017 to 2.5% in 2018, before reducing it further to 2.1% in February 2019, according to the Central Reserve Bank of Peru. Furthermore, Scotiabank Perú, the local subsidiary of the Canada-based financial institution, has forecast the deficit will be...
Global trade will continue to face headwinds that are dampening the outlook for growth in the coming years. According to the World Trade Organisation (WTO), trade volume grew by 3% in 2018 and is expected to decline slightly to 2.6% in 2019 before rebounding back to 3% in 2020. This may be the first time since the 2007-08 global financial...
Peru is a major producer of copper and gold, as well as a prolific exporter of liquefied natural gas, seafood and agricultural products. In addition, it has significant oil and gas reserves, and is a major tourist destination, with some 4.5m tourists visiting annually. Many of these visitors flock to the country’s Incan archaeological sites,...
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