IBOV 166,334.86 ▼ 0.27% IPSA 11,186.57 ▲ 0.34% IPC MEX 64,301.04 ▲ 0.07% MERVAL 2,891,651 ▼ 1.89% COLCAP 2,461.23 ▲ 0.36% BVL PERÚ 58,401.58 ▼ 1.35% USD/BRL5.21▲ 0.22% USD/MXN17.06▲ 0.13% USD/CLP927.14▲ 1.17% USD/COP3,098▼ 1.01% USD/PEN3.37▼ 0.03% USD/ARS1,495▲ 0.45% USD/UYU40.26▲ 1.93% USD/PYG6,002▲ 2.02% USD/BOB11.48▲ 0.10% USD/DOP58.50▲ 1.26% USD/CRC444.65▲ 1.69% USD/GTQ7.62▲ 2.33% USD/HNL26.80▲ 1.74% USD/NIO36.62▲ 0.81% USD/VES771.38▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.71▲ 1.08% EUR/BRL6.03▼ 0.07% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 166,334.86 ▼ 0.27% IPSA 11,186.57 ▲ 0.34% IPC MEX 64,301.04 ▲ 0.07% MERVAL 2,891,651 ▼ 1.89% COLCAP 2,461.23 ▲ 0.36% BVL PERÚ 58,401.58 ▼ 1.35% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
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Five common keys for Latin America arriving at the Ibero-American summit in Andorra

By · April 20, 2021 · 3 min read

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RIO DE JANEIRO, BRAZIL – Each Latin American country attends the XXVII Ibero-American Summit in Andorra this Wednesday with its own agenda and a series of common problems.

The pandemic has exacerbated a widespread crisis that, although already on the horizon since the 2019 mobilizations in the region, has been accelerated with the arrival of Covid-19.

Despite major geographical, political, and economic differences, Latin America as a whole shows commonalities to be taken into account. Here are five of the key points:

Five common keys for Latin America arriving at the Ibero-American summit in Andorra
Five common keys for Latin America arriving at the Ibero-American summit in Andorra. (Photo internet reproduction)
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1. Covid-19 and lack of vaccines 

Latin America is one of the regions most devastated by Covid-19. More than 27 million infections and more than 800,000 deaths have occurred by mid-April 2021, according to the W.H.O. With just over 8 percent of the world’s population, it has almost 20 percent of those infected and almost 30 percent of those who have died.

The arrival of vaccines has been a volatile hope in most cases. Only Chile and Uruguay – 67% and 36%, respectively – have a solid vaccination rate. Of the remaining countries, few reach 15 percent, and some, such as Cuba and Haiti, have not even started.

2. Economy and poverty

In 2020, the world economy fell by 4.3%. In Latin America and the Caribbean, regional GDP declined by nearly 8% in the same year, according to ECLAC. The IMF outlook presented last week shows some optimism: the region will grow at a rate of 4.6% in 2021, although the persistence of the health crisis in many countries “casts a shadow over the short-term outlook.”

Going back to the ECLAC data, due to the strong economic recession in the region, the poverty rate reached 33.7 % of the population, which means 22 million more poor people.

Meanwhile, the IMF concludes that per capita income in Latin America will not recover its pre-pandemic level until 2024.

3. Politics and surprises

In a region characterized by leaders with strong personalities, the pandemic crisis is a good breeding ground for unexpected solutions. This has been evidenced by some of the results of the elections held this year. In Ecuador, Guillermo Lasso won against the favored leftist candidate, and in Peru, where an unknown ultra-left trade unionist is heading to the second round against a far-right candidate.

As we enter the year, the elections on offer multiply in number: a plebiscite in Chile; mid-term elections in Mexico and Argentina; and presidential elections in Honduras and Nicaragua.

In the background, the position on Venezuela remains the key to the general division of the continent.

4. Woman without a body

The annual report of the United Nations Population Fund (UNFPA) presented last week is conclusive: 26% of women in Latin America and the Caribbean between the ages of 15 and 49 cannot decide about their own bodies. And this is reflected in common actions such as using contraceptives or the possibility of refusing to have sex.

Teenage pregnancy (61 girls aged 15 to 19 per 1,000) and child marriage are other scourges in the region.

The irruption of Covid-19 has also diminished women’s decision-making power, which has further reduced their autonomy and created new barriers in access to health care, according to UNFPA.

5. Environment

The environmental patrimony of Latin America and the Caribbean is losing ground as uncontrolled urbanization, massive cattle ranching, and illegal mining gain ground.

According to the recent Global Forest Watch report, five of the world’s countries most affected by deforestation are in Latin America.

Brazil leads the ranking with the most primary forests lost during 2020. Bolivia, in third place; Peru, fifth; Colombia, sixth and Mexico in tenth place are the nations at the top of the list, which blames the depredation of raw materials as the fundamental cause of this loss of natural wealth.

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