Latin America, and the global crisis
- Posted by Marc on February 10th, 2009 filed in economy
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Remittances to Mexico from US emigrants (1995-20089, (source: bespoke)
From Mexico to Argentina or Chile, the world financial crisis reaches the last corner of Latin America. In mexico after a strong increase in recent years, the emigrants remittances from US beguin to decline. In Chile, last years current account superavit, thanks to high cooper prices in the internacional markets, beguins to change. Is expected a significant déficit in 2008 and 2009, because of change in cooper prices trend.
Chilean current account is totally correlated to the price of cooper.
Argentina agricultural production (2004-2008, source: FT)
Argentina is also suffering a lack of rain, and the consecuence is a sharp decline in corn, soybeans and wheat production.
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