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- ☀ Domingo Brief — Uruguay Heads to the Polls
☀ Domingo Brief — Uruguay Heads to the Polls
Each Sunday, take two minutes to catch key stories and opportunities shaping Latin America.
Latinometrics
October 27, 2024 • Reading Time: 4 minutes
Welcome back to the Domingo Brief! This week, we’re following Argentinean country risk, a UN conference in Colombia, and more.
Miami friends! We’ll be attending the exciting Western Hemisphere Nearshoring event which will be held in your city at the Miami Dade College on Tuesday (Oct. 29th). Our Partnership Manager, Majo Gracia, will be in attendance and hopefully can meet some of you.
Trivia of the Week 🎯
A little over 43% of you got it right last week when you guessed Mercado Libre (MELI) as the most valuable listed company in Latin America. Since the late 1990s, the Argentinean e-commerce retailer has expanded across the region to over 100M customers and diversified into various markets such as (most famously) the fintech space with Mercado Pago. It surpassed Brazilian oil giant Petrobras with its market capitalization (currently over $100B) last August.
Each week, tune back in for the answer to the previous week’s trivia question. No cheating!
Which longtime Kirchnerist figure appears to have turned against ex-president Cristina Fernández de Kirchner in the upcoming primary election for Argentina’s Justicialist Party? |
🇦🇷 Argentina has dropped to its lowest country risk in over 5 years per a JPMorgan Chase-published indicator, the EMBI Index, which is seen as the world’s main country risk index. The index measures the likelihood of a country defaulting on its debt, which means that for both international creditors and government figures a lower number is always preferable. Analysts tied this improvement to increasingly stable macroeconomics and recent cash infusions to the tune of $8.8B by international financial institutions such as the World Bank and Inter-American Development Bank.
Latinometrics: Argentina’s government will welcome this news as it seeks to project fiscal stability and responsible governance worldwide. However, the country is nonetheless facing dire economic straits, with over half of Argentines in poverty and over 35% of the population food insecure. As inflation drops, the government seeks to shore up foreign reserves and restore some modicum of growth after years of chaos.
🇧🇷 São Paulo is the only Latin American city to break the top 10 of an IFDAQ list of the world’s major Global Fashion & Luxury Cities, which evaluates the world’s municipalities on how central they are to the worldwide fashion industry. As to be expected, the top of the list sees the usuals (New York, Paris, London, and Milan), though we’re obviously more excited to see SP at #9, Mexico City at #20, and Buenos Aires at #28 worldwide. Stay classy, Latin America.
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