We’ll present a quick summary of the beginning of the session for some Latin American economies, and the main news that should be taken into account for the next days.
According to the weekly survey of the Central Bank of Brazil, known as Focus, the inflation and GDP projections are stable. According to economists assigned to 100 Brazilian banks, inflation in the largest regional economy [together with Mexico] is 3.08% and 4.02% for 2017 and 2018 respectively. Real exchange rate versus dollars at the end of 2017 and 2018 us at 3.19 and 3.30 Brazilian real respectively.
The referential short-term interest rate is at 7.0% for the rest of the year as well as for 2018. And a GDP growth of 0.73% in 2017 and 2.50% in 2018.
Buenaventura, very questioned in environmental and social aspects, is the largest producer of precious metals in Peru, some sources commented that the Uchucchacua unit, located in the Andes of Lima, the capital of the country, resumed operations after the nearby community decided to lift the road blockade.
Uchucchacua stopped its operation as we indicated on October 31st after the protests of the community of Oyón, protest that happened in request of compensation for the use of land, said a source.
The community of Oyón protested during the weekend, after a work table was set up, which is made up of representatives of the Ministry of Energy and Mines, the Council of Ministers, the Buenaventura Company and some members of the community, this was according to the information given by the companies, and it is a very important fact that it was released to the regulating entity of the Peruvian securities market.
The Mexican stock market yielded in its negotiated amounts in its first operations of the beginning of the session, extending the losses of the previous week after local economic data that revealed a deceleration was known, said a specialized source.
Industrial production indices suggest a moderate activity, and consumer and business confidence remain low, which will likely keep the investment weak in the short term, that is what the investment bank, Goldman Sachs, said in a release document for its clients.
A number of leading indicators begin to show a loss of impetus in private consumption going forward, he said.
Meanwhile, Venezuela is facing very serious problems with the payment of the PDVSA bonds, the oil regulator of the Latin American country and the restructuring of a debt of over 1,000 million dollars.
The government of the country announced a meeting in the capital of the country, Caracas, but the international entities refused due to the security problems and decadent services in the region.
The spokesman of the restructuring, Tarek El Assaimi, faces blockades in different countries, but the strongest are those of the United States where he is on the Black List due to the charge of drug trafficking.