While austerity has a history in South America, including by force under military governments in the 1970s, the commodities boom that began around 2000 opened up spending leeway that has now evaporated again. The upshot is that Latin Americans are yet again rejecting austerity sought by investors and the likes of the International Monetary Fund, arguing it does little to reduce income inequality or improve social services. Have a confidential tip for our reporters? “There is a clear sense that it is important to assure some sort of economic development that also tackle inequalities, which may get amplified in a moment of global slowdown and trade uncertainties,” Mexican Finance Minister Arturo Herrera said during the meetings. CQ Press is a registered trademark of Congressional Quarterly Inc. Obstacles to Stable Democratic Government, Mexico's Election and the Continuing Revolution, Export Surpluses and Import Needs of South America, Protection of American Interests in Mexico, Relations Between Mexico and the United States, Imperialism, Colonization, and Independence Movements, Regional Political Affairs: Latin America and the Caribbean, CCPA – Do Not Sell My Personal Information, Environment, Climate and Natural Resources. Latin America has some of the highest COVID-19 death rates in the world. Protests and violent riots throughout the United States, nominally expressing outrage over the death of Minnesota man George Floyd, attracted Latin American leftist iconography this week – not a coincidence given months of violent riots throughout South America, observers told Breitbart News. His running mate, Christina Fernandez de Kirchner, is the standard bearer of Juan Peron’s legacy and oversaw what became a closed-off economy during her two terms as president. Paraguayans are angry about an agreement with Brazil on the Itaipu hydroelectric power plantthat’s considered detrimental to the smaller country. Yet Nelson A. Rockefeller, who served as wartime Coordinator of Inter-American Affairs, has noted that “disunity and unrest in many parts of Latin America are far more widespread and serious than most people of the United States realize”. That was enough to trigger a historic market sell-off, leading the government to reimpose capital controls and unilaterally push out debt maturities. The economy barely missed recession during the first half of 2019, and growth prospects for 2020 remain at just 1%, after repeated forecast cuts. SAN SALVADOR, El Salvador (CN) — With political unrest in Chile, Peru, Brazil, Venezuela, Ecuador and Bolivia, virtually the entire continent of South America is in the throes of drama unseen for a generation. Economic malaise behind Latin America’s year of unrest. Latin America’s Wave of Protests Was Historic—Then the Pandemic Arrived The coronavirus and lockdowns have worsened the region’s economic divides—and set the stage for more political upheaval. Despite Mexico’s economics strengths and its position as Latin America’s second-largest economy, businesses must be aware of heightened risks in the country in 2020 – including sluggish growth. Targets Gas in Next Fight Against Fossil Fuel Pollution, Meadows Suggested Hahnâs Job in Danger Over Vaccine, U.S. Lifts Sudanâs Terror-Sponsor Listing After 27 Years. Take our survey to help us improve CQ Researcher! And yet, despite the turmoil, the country has been one of the strongest economic performers in Latin America. The only outlier was Chile. In Ecuador, unrest blew up after President Lenin Moreno ended fuel subsidies. Finally, following the killing of social and indigenous leaders, Colombia is expecting a general strike on Nov. 21 – opening fears of further unrest. Presidential contender Alberto Fernandez has promised relief, suggesting Argentina may be headed for a renewed populist turn that could unwind economic reforms and push the country toward renegotiating its debt. Investors are already pricing in the return of political risk. In Chile, 2,500 injured and least 20 dead in weeks of unrest. Every living former Peruvian president is being investigated or has been charged with corruption. At the onset of the year, nine of the region’s 10 largest economies sat in the extreme- or high-risk category of our Civil Unrest Index. Mexico is emerging from a disappointing first year of the administration of President Andrés Manuel López Obrador (AMLO). Unrest in Latin America is putting the region’s soldiers back into the public eye. It soon escalated as rioters burned buses and metro stations, looted businesses, and clashed with security forces. A metro station burns during a protest in Santiago, Chile, on Oct. 19. 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