Our Latin America Chart Pack has been updated with the latest data and our analysis of recent developments.
Brazil and Mexico will outperform others in the region this year, but that’s likely to flip on its head in 2024 as they slow – and by more than most expect – while the Andean economies recover. Rapid wage growth will keep inflation above target for some time. This means that, while policymakers will continue to cut interest rates in the coming months, easing cycles will probably be more gradual than most expect. Public debt risks are likely to build again in 2024 as debt ratios return to an upwards path in many parts of the region. Default risks are most acute in Ecuador and Argentina.
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