Latin America Chart Pack (Mar. 2025)

Our Latin America Economics Chart Pack has been updated with the latest data and our analysis of recent developments.

The protectionist shift in the US will weigh heavily on Mexico’s economy, which at best might just eke out positive growth this year. The rest of the region is less exposed to tariffs, but tight policy and worsening terms of trade will weigh on growth, which we think will disappoint consensus expectations over the next couple of years. Despite weak growth, inflation will remain uncomfortably high. This will prompt Brazil’s central bank to deliver a few more hikes while central banks elsewhere in the region will lower rates by less than most expect. Fiscal risks are likely to remain in the spotlight as governments miss their ambitious targets and debt ratios continue to rise.