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- ☀ Domingo Brief — French Investments in Mexico
☀ Domingo Brief — French Investments in Mexico
Each Sunday, take two minutes to catch key stories and opportunities shaping Latin America.
Latinometrics
October 20, 2024 • Reading Time: 3 minutes
Welcome back to the Domingo Brief! This week, we’re keeping up with Brazil’s credit rating upgrades, Cuba’s power grid failures, and more.
Trivia of the Week 🎯
A mere 27% of you were correct last week: Mexico was the country which once lost 10% of its population in a 20th-century non-interstate conflict. The Mexican Revolution of the 1910s saw a huge amount of the country’s population killed in internal fighting between the state and various armed rebel groups. Notably, many of you guessed Paraguay (likely thinking of the War of the Triple Alliance), but that war was both in the 19th (not 20th) century and did involve multiple states fighting.
Each week, tune back in for the answer to the previous week’s trivia question. No cheating!
What is the most valuable listed company in Latin America? |
🇦🇷 Argentina was the only G20 country to abstain from a Brazil-drafted statement aimed at fighting gender-based violence (GBV) and misogyny. The Argentinean government’s decision has irked its Brazilian counterpart and has demonstrated a surprising ideological isolation for President Javier Milei, in office since December, in the grouping of the world’s twenty biggest economies.
🇧🇷 Brazil’s credit score has been upgraded by Moody’s, reaching the highest junk grade (Ba1) and just one step below investment grade. The ratings agency had previously raised Brazil’s credit outlook to positive in May, while its peers at S&P Global and Fitch Ratings each upgraded Brazil to BB last year. In announcing its decision, Moody’s cited the country’s strong economic growth and strong history of credible policies such as its recent tax reform.
Latinometrics: Brazil first lost its investment-grade status eight years ago, in 2016, as the country was in the midst of severe economic and political crisis. In the years since, gradual economic reforms and strong post-pandemic growth have gradually restored investors’ confidence, but it remains important that the current Brazilian administration demonstrates good fiscal discipline to avoid growing the public debt.
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