IBOV 175,963 ▼ 1.07% IPSA 10,950 ▼ 0.96% IPC MEX 65,928 ▼ 0.85% MERVAL 3,260,164 ▼ 0.61% COLCAP 2,307.67 ▲ 0.65% BVL PERÚ 56,917.82 ▼ 0.73% USD/BRL5.13▲ 0.43% USD/MXN17.52▲ 0.30% USD/CLP931.83▲ 0.75% USD/COP3,242▼ 0.11% USD/PEN3.41▲ 0.49% USD/ARS1,482▼ 0.37% USD/UYU 40.22 — 0.00% USD/PYG6,045▼ 0.17% USD/BOB10.35▲ 2.07% USD/DOP58.30▼ 0.31% USD/CRC448.53▼ 0.06% USD/GTQ7.62▼ 0.10% USD/HNL26.73▲ 0.04% USD/NIO 36.62 — 0.00% USD/VES719.54▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD156.98▼ 0.70% USD/TTD6.74▼ 0.12% EUR/BRL5.84▲ 0.35% BRENT 82.88 ▲ 9.04% WTI 77.71 ▲ 8.82% IRON ORE 161.91 — — COPPER 6.28 ▲ 0.70% GOLD 4,005 ▼ 2.41% SILVER 57.82 ▼ 3.33% SOY 1,194 ▼ 0.25% CORN 463.00 ▲ 5.71% WHEAT 635.25 ▲ 0.51% COFFEE 330.50 ▼ 3.64% SUGAR 14.76 ▼ 0.81% ORANGE JUICE 137.15 ▼ 7.24% COTTON 81.49 ▲ 1.96% COCOA 5,808 ▼ 1.88% BEEF 234.95 ▼ 0.11% CATTLE 354.20 ▼ 0.11% LITHIUM 70.13 ▼ 3.03% PETR4 40.79 ▲ 2.88% VALE3 72.66 ▼ 2.05% ITUB4 43.65 ▼ 1.47% BBDC4 18.76 ▼ 0.53% ABEV3 15.84 ▲ 0.13% BBAS3 20.26 ▼ 1.55% B3SA3 15.07 ▼ 2.27% WEGE3 44.61 ▼ 4.09% PRIO3 57.14 ▲ 3.05% SUZB3 41.59 ▲ 0.10% RENT3 40.17 ▼ 2.26% AZZA3 19.23 ▲ 0.68% CSAN3 3.93 ▼ 3.44% RAIZ4 0.33 ▼ 5.71% PCAR3 2.61 ▼ 4.40% GMAT3 3.96 ▼ 0.25% PSSA3 54.04 ▼ 1.69% CVCB3 1.24 ▼ 0.80% POSI3 3.94 ▼ 0.76% SLCE3 13.88 ▼ 1.00% NATU3 8.66 ▼ 0.23% BRKM5 6.82 ▲ 2.87% RANI3 7.96 ▼ 0.62% CSNA3 5.25 ▲ 1.35% CMIN3 5.47 ▲ 4.59% USIM5 8.40 ▼ 0.59% GGBR4 22.93 ▼ 0.35% ENEV3 27.01 ▼ 1.96% CPFE3 46.97 ▼ 1.88% CMIG4 11.09 ▼ 2.55% EQTL3 40.17 ▼ 1.81% LREN3 14.24 ▼ 2.60% VIVT3 35.02 ▼ 2.04% RAIL3 14.08 ▼ 1.95% KLABIN 17.54 — 0.00% RAIA DROGASIL 18.30 ▼ 2.50% RDOR3 35.57 ▼ 1.25% HAPV3 10.45 ▼ 1.42% FLRY3 16.26 ▼ 0.97% SMTO3 16.55 ▲ 1.10% UGPA3 31.00 ▲ 0.94% VBBR3 32.80 ▼ 0.61% BBSE3 40.31 ▼ 0.10% BPAC11 57.82 ▼ 1.55% CURY3 33.50 ▼ 2.08% AERI3 2.08 ▼ 0.48% VIVARA 23.16 ▼ 1.57% COMPASS 24.79 ▼ 2.78% VAMOS 3.02 ▼ 1.31% SANB11 27.21 ▼ 1.48% ASAI3 8.69 ▼ 2.03% SBSP3 30.35 ▼ 2.44% WALMEX 49.58 ▲ 0.53% GMEXICO 195.10 ▼ 2.07% FEMSA 224.45 ▲ 0.51% CEMEX 21.63 ▼ 1.05% GFNORTE 182.42 ▼ 2.23% BIMBO 55.93 ▼ 0.30% TELEVISA 9.64 ▼ 0.93% AMX 22.83 ▲ 0.57% GAP 408.44 ▼ 0.98% ASUR 278.30 ▼ 2.39% OMA 233.02 ▼ 1.46% KOF 180.86 ▲ 0.40% GRUMA 283.07 ▼ 0.17% KIMBER 38.24 ▲ 0.45% SQM-B 67,262 ▼ 0.72% COPEC 6,109 ▼ 0.49% BSANTANDER 77.78 ▼ 1.54% FALABELLA 5,911 ▲ 0.10% ENELAM 84.77 ▼ 0.74% CENCOSUD 2,037 ▼ 0.40% CMPC 1,084 ▼ 2.29% BANCO CHILE 184.33 ▼ 2.41% LATAM AIR 25.17 ▼ 4.15% YPF 77,250 ▲ 3.83% GGAL 8,190 ▼ 1.74% PAMPA 5,290 ▲ 2.12% TXAR 664.00 ▼ 1.04% ALUAR 963.00 ▼ 1.28% TGS 9,605 ▲ 0.10% CEPU 2,345 ▼ 2.13% MIRGOR 17,025 ▼ 1.30% COME 44.89 ▼ 2.22% LOMA NEGRA 3,500 ▼ 2.30% BYMA 310.00 ▼ 1.27% TELECOM ARG 4,250 ▲ 0.12% ECOPETROL 15.88 ▲ 1.93% BANCOLOMBIA 81.23 ▼ 2.08% GRUPO AVAL 4.92 ▼ 2.96% CREDICORP 389.30 ▼ 2.87% SOUTHERN COPPER 174.32 ▼ 0.86% BUENAVENTURA 29.83 ▼ 0.58% MERCADOLIBRE 1,872 ▲ 1.09% NUBANK 13.71 ▼ 0.36% XP 16.36 ▼ 3.31% PAGSEGURO 9.25 — 0.00% STONE 11.14 ▼ 0.67% GLOBANT 31.93 ▲ 6.58% TECNOGLASS 42.94 ▼ 2.19% GAP AIRPORT 233.13 ▼ 1.07% ASUR 278.30 ▼ 2.39% OMA AIRPORT 106.11 ▼ 1.79% AMX ADR 26.01 — 0.00% FEMSA ADR 128.39 ▲ 0.57% CEMEX ADR 12.35 ▼ 1.08% PETROBRAS ADR 17.87 ▲ 3.15% VALE ADR 14.12 ▼ 2.39% ITAU ADR 8.50 ▼ 1.39% SANTANDER BR 5.33 ▼ 1.21% AMBEV ADR 3.07 ▼ 0.16% CSN 1.03 ▲ 1.49% GERDAU 4.47 ▼ 0.62% LATAM ADR 53.73 ▼ 4.82% BTC 61,976 ▼ 2.79% ETH 1,765 ▼ 2.26% SOL 74.78 ▼ 2.72% XRP 1.06 ▼ 2.20% BNB 564.11 ▼ 1.71% ADA 0.16 ▼ 3.00% DOGE 0.07 ▼ 1.75% AVAX 6.44 ▲ 0.59% LINK 7.86 ▼ 1.68% DOT 0.83 ▼ 1.56% LTC 43.16 ▼ 1.84% BCH 235.57 ▼ 1.83% TRX 0.33 ▼ 1.74% XLM 0.18 ▼ 2.67% HBAR 0.07 ▼ 1.87% NEAR 1.89 ▼ 0.03% ATOM 1.54 ▼ 1.86% AAVE 94.54 ▼ 2.60% SELIC 14.25% EMBRAER 82.66 ▼ 2.29% EMBRAER ADR 64.47 ▼ 2.33% JBS 11.79 ▼ 1.05% JBS BDR 60.27 ▼ 0.84% MBRF3 15.93 ▲ 2.44% MBRFY 3.07 ▲ 1.66% INTER 5.62 ▼ 3.44% EGX 52,608 ▲ 0.67% USD/ZAR16.45▲ 0.79% USD/NGN1,378▼ 0.05% NIKKEI 67,243 ▼ 1.92% CSI300 4,695 ▼ 1.79% HSI 24,214 ▲ 0.16% NIFTY 24,211 ▲ 0.02% KOSPI 6,807 ▼ 8.95% JCI 6,038 ▲ 1.92% USD/JPY162.43▲ 0.44% USD/CNY6.77▼ 0.09% DAX 25,114 ▲ 0.19% CAC 8,365 ▲ 0.31% FTSE 10,498 ▲ 0.01% MIB 52,809 ▲ 0.37% IBEX 19,336 ▼ 0.25% STOXX 641.01 ▼ 0.01% EUR/USD1.14▼ 0.12% GBP/USD1.34▼ 0.25% SPX 7,521 ▼ 0.71% DJI 52,493 ▼ 0.27% NDX 29,284 ▼ 1.82% RUT 2,952 ▼ 0.86% TSX 35,236 ▼ 0.20% VIX 16.93 ▲ 12.64% USD/CAD1.42▼ 0.03% US10Y 4.6120 ▲ 0.94% IBOV 175,963 ▼ 1.07% IPSA 10,950 ▼ 0.96% IPC MEX 65,928 ▼ 0.85% MERVAL 3,260,164 ▼ 0.61% COLCAP 2,307.67 ▲ 0.65% BVL PERÚ 56,917.82 ▼ 0.73% USD/BRL 5.13 ▲ 0.44% USD/MXN 17.52 ▲ 0.30% USD/CLP 931.83 ▲ 0.75% USD/COP 3,242 ▼ 0.11% USD/PEN 3.41 ▲ 0.49% USD/ARS 1,482 ▼ 0.37% USD/UYU 40.22 — 0.00% USD/PYG 6,045 ▼ 0.17% USD/BOB 10.35 ▲ 2.07% USD/DOP 58.30 ▼ 0.31% USD/CRC 448.53 ▼ 0.06% USD/GTQ 7.62 ▼ 0.10% USD/HNL 26.73 ▲ 0.04% USD/NIO 36.62 — 0.00% USD/VES 719.54 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 156.98 ▼ 0.30% USD/TTD 6.74 ▲ 1.31% EUR/BRL 5.84 ▲ 0.35% BRENT 82.88 ▲ 9.04% WTI 77.71 ▲ 8.82% IRON ORE 161.91 — — COPPER 6.28 ▲ 0.70% GOLD 4,005 ▼ 2.41% SILVER 57.82 ▼ 3.33% SOY 1,194 ▼ 0.25% CORN 463.00 ▲ 5.71% WHEAT 635.25 ▲ 0.51% COFFEE 330.50 ▼ 3.64% SUGAR 14.76 ▼ 0.81% ORANGE JUICE 137.15 ▼ 7.24% COTTON 81.49 ▲ 1.96% COCOA 5,808 ▼ 1.88% BEEF 234.95 ▼ 0.11% CATTLE 354.20 ▼ 0.11% LITHIUM 70.13 ▼ 3.03% PETR4 40.79 ▲ 2.88% VALE3 72.66 ▼ 2.05% ITUB4 43.65 ▼ 1.47% BBDC4 18.76 ▼ 0.53% ABEV3 15.84 ▲ 0.13% BBAS3 20.26 ▼ 1.55% B3SA3 15.07 ▼ 2.27% WEGE3 44.61 ▼ 4.09% PRIO3 57.14 ▲ 3.05% SUZB3 41.59 ▲ 0.10% RENT3 40.17 ▼ 2.26% AZZA3 19.23 ▲ 0.68% CSAN3 3.93 ▼ 3.44% RAIZ4 0.33 ▼ 5.71% PCAR3 2.61 ▼ 4.40% GMAT3 3.96 ▼ 0.25% PSSA3 54.04 ▼ 1.69% CVCB3 1.24 ▼ 0.80% POSI3 3.94 ▼ 0.76% SLCE3 13.88 ▼ 1.00% NATU3 8.66 ▼ 0.23% BRKM5 6.82 ▲ 2.87% RANI3 7.96 ▼ 0.62% CSNA3 5.25 ▲ 1.35% CMIN3 5.47 ▲ 4.59% USIM5 8.40 ▼ 0.59% GGBR4 22.93 ▼ 0.35% ENEV3 27.01 ▼ 1.96% CPFE3 46.97 ▼ 1.88% CMIG4 11.09 ▼ 2.55% EQTL3 40.17 ▼ 1.81% LREN3 14.24 ▼ 2.60% VIVT3 35.02 ▼ 2.04% RAIL3 14.08 ▼ 1.95% KLABIN 17.54 — 0.00% RAIA DROGASIL 18.30 ▼ 2.50% RDOR3 35.57 ▼ 1.25% HAPV3 10.45 ▼ 1.42% FLRY3 16.26 ▼ 0.97% SMTO3 16.55 ▲ 1.10% UGPA3 31.00 ▲ 0.94% VBBR3 32.80 ▼ 0.61% BBSE3 40.31 ▼ 0.10% BPAC11 57.82 ▼ 1.55% CURY3 33.50 ▼ 2.08% AERI3 2.08 ▼ 0.48% VIVARA 23.16 ▼ 1.57% COMPASS 24.79 ▼ 2.78% VAMOS 3.02 ▼ 1.31% SANB11 27.21 ▼ 1.48% ASAI3 8.69 ▼ 2.03% SBSP3 30.35 ▼ 2.44% WALMEX 49.58 ▲ 0.53% GMEXICO 195.10 ▼ 2.07% FEMSA 224.45 ▲ 0.51% CEMEX 21.63 ▼ 1.05% GFNORTE 182.42 ▼ 2.23% BIMBO 55.93 ▼ 0.30% TELEVISA 9.64 ▼ 0.93% AMX 22.83 ▲ 0.57% GAP 408.44 ▼ 0.98% ASUR 278.30 ▼ 2.39% OMA 233.02 ▼ 1.46% KOF 180.86 ▲ 0.40% GRUMA 283.07 ▼ 0.17% KIMBER 38.24 ▲ 0.45% SQM-B 67,262 ▼ 0.72% COPEC 6,109 ▼ 0.49% BSANTANDER 77.78 ▼ 1.54% FALABELLA 5,911 ▲ 0.10% ENELAM 84.77 ▼ 0.74% CENCOSUD 2,037 ▼ 0.40% CMPC 1,084 ▼ 2.29% BANCO CHILE 184.33 ▼ 2.41% LATAM AIR 25.17 ▼ 4.15% YPF 77,250 ▲ 3.83% GGAL 8,190 ▼ 1.74% PAMPA 5,290 ▲ 2.12% TXAR 664.00 ▼ 1.04% ALUAR 963.00 ▼ 1.28% TGS 9,605 ▲ 0.10% CEPU 2,345 ▼ 2.13% MIRGOR 17,025 ▼ 1.30% COME 44.89 ▼ 2.22% LOMA NEGRA 3,500 ▼ 2.30% BYMA 310.00 ▼ 1.27% TELECOM ARG 4,250 ▲ 0.12% ECOPETROL 15.88 ▲ 1.93% BANCOLOMBIA 81.23 ▼ 2.08% GRUPO AVAL 4.92 ▼ 2.96% CREDICORP 389.30 ▼ 2.87% SOUTHERN COPPER 174.32 ▼ 0.86% BUENAVENTURA 29.83 ▼ 0.58% MERCADOLIBRE 1,872 ▲ 1.09% NUBANK 13.71 ▼ 0.36% XP 16.36 ▼ 3.31% PAGSEGURO 9.25 — 0.00% STONE 11.14 ▼ 0.67% GLOBANT 31.93 ▲ 6.58% TECNOGLASS 42.94 ▼ 2.19% GAP AIRPORT 233.13 ▼ 1.07% ASUR 278.30 ▼ 2.39% OMA AIRPORT 106.11 ▼ 1.79% AMX ADR 26.01 — 0.00% FEMSA ADR 128.39 ▲ 0.57% CEMEX ADR 12.35 ▼ 1.08% PETROBRAS ADR 17.87 ▲ 3.15% VALE ADR 14.12 ▼ 2.39% ITAU ADR 8.50 ▼ 1.39% SANTANDER BR 5.33 ▼ 1.21% AMBEV ADR 3.07 ▼ 0.16% CSN 1.03 ▲ 1.49% GERDAU 4.47 ▼ 0.62% LATAM ADR 53.73 ▼ 4.82% BTC 61,976 ▼ 2.79% ETH 1,765 ▼ 2.26% SOL 74.78 ▼ 2.72% XRP 1.06 ▼ 2.20% BNB 564.11 ▼ 1.71% ADA 0.16 ▼ 3.00% DOGE 0.07 ▼ 1.75% AVAX 6.44 ▲ 0.59% LINK 7.86 ▼ 1.68% DOT 0.83 ▼ 1.56% LTC 43.16 ▼ 1.84% BCH 235.57 ▼ 1.83% TRX 0.33 ▼ 1.74% XLM 0.18 ▼ 2.67% HBAR 0.07 ▼ 1.87% NEAR 1.89 ▼ 0.03% ATOM 1.54 ▼ 1.86% AAVE 94.54 ▼ 2.60% SELIC 14.25% EMBRAER 82.66 ▼ 2.29% EMBRAER ADR 64.47 ▼ 2.33% JBS 11.79 ▼ 1.05% JBS BDR 60.27 ▼ 0.84% MBRF3 15.93 ▲ 2.44% MBRFY 3.07 ▲ 1.66% INTER 5.62 ▼ 3.44% EGX 52,608 ▲ 0.67% USD/ZAR 16.44 ▲ 0.56% USD/NGN 1,378 ▲ 0.15% NIKKEI 67,243 ▼ 1.92% CSI300 4,695 ▼ 1.79% HSI 24,214 ▲ 0.16% NIFTY 24,211 ▲ 0.02% KOSPI 6,807 ▼ 8.95% JCI 6,038 ▲ 1.92% USD/JPY 162.36 ▲ 0.42% USD/CNY 6.7709 ▲ 0.06% DAX 25,114 ▲ 0.19% CAC 8,365 ▲ 0.31% FTSE 10,498 ▲ 0.01% MIB 52,809 ▲ 0.37% IBEX 19,336 ▼ 0.25% STOXX 641.01 ▼ 0.01% EUR/USD 1.1391 ▼ 0.25% GBP/USD 1.3361 ▼ 0.28% SPX 7,521 ▼ 0.71% DJI 52,493 ▼ 0.27% NDX 29,284 ▼ 1.82% RUT 2,952 ▼ 0.86% TSX 35,236 ▼ 0.20% VIX 16.93 ▲ 12.64% USD/CAD 1.4150 ▼ 0.01% US10Y 4.6120 ▲ 0.94%
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Covid-19 Brazil

Analysis: Argentina and Mexico strengthen alliance, seeking to lead Latin America

By · February 26, 2021 · 4 min read

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RIO DE JANEIRO, BRAZIL – The void left by Brazil, which gave up its regional leadership mainly under the government of Jair Bolsonaro, is making room for the rise of new players in Latin America.

Two presidents are looking to coordinate in order to fill this role, Alberto Fernández and Andrés Manuel López Obrador, a goal that became clear during the Argentine president’s visit to Mexico this week. The two left-wing leaders’ domestic issues, which have caused their approval ratings to plunge during the coronavirus pandemic, do not seem to be hindering their plans. However, assuming a leadership position in the region is a difficult goal to achieve in the current context, according to analysts.

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Mexican President Andres Manuel Lopez Obrador, Argentinian President Alberto Fernandez , (Photo Internet Reproduction(
Mexican President Andres Manuel Lopez Obrador (left), Argentinian President Alberto Fernandez , (Photo Internet Reproduction(
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The three-day visit – Fernández is the first Argentine president in a decade to visit Mexico – revealed the ideological affinities and leadership plans of the two politicians. López Obrador recalled that “Mexico and Argentina are partner nations,” while Fernández promised “a new plan to pull millions of Latin Americans out of poverty.” Fernández had already been focusing on other partners, such as Bolivia, which elected Evo Morales’ candidate Luis Arce to the presidency last year; and possibly Ecuador, where an ally of Rafael Correa, Andrés Arauz, has a good chance of winning a runoff election on April 11th.

“Argentina has always had a regional agenda, particularly during the Peronist governments. Now, Fernández has a presence not only with like-minded governments, but with center-right neighbors with whom he needs to establish relations, such as Chile and Uruguay,” explains Professor Monica Hirst of Argentina’s Di Tella University.

“But at the same time, neither Argentina nor Mexico is in a position, together or separately, to push forward a process of resuming a regional political agenda of greater impact. The absence of Brazil, which is now pursuing a bad neighbor policy that was exacerbated during the pandemic, is creating a void in the region that is very difficult to fill.”

The visit took place against the backdrop of the two countries’ cooperation with AstraZeneca in the production of some 200 million doses of the Covid-19 vaccine, which will be produced in Argentina, packaged in Mexico and sold to countries in the region. Fernández visited the Liomont laboratory where the immunizer will be packaged.

The highlight was the publication on Wednesday of a joint document that includes trade agreements and strategies to tackle the pandemic and restructure the regional economy after the health crisis. “The Covid-19 pandemic has highlighted the importance of keeping Latin America and the Caribbean strong, united and in solidarity, where no country in the region is excluded from universal, fair, equitable and timely access to medicines, vaccines and medical supplies,” the document reads.

On that same day, at an event to announce an alliance “against inequality” in the state of Guerrero, Fernández spoke about the partnership:

“Our duty is for Mexico and Argentina to be united. It is our obligation to face a common future and that this helps Latin America. From the northernmost country to the southernmost, we must be able to trace an axis that unites the whole continent,” said the Argentine president.

However, Professor Paulo Esteves, from the International Relations Institute of PUC-Rio, observes that the two countries together “do not hold the required capacity to lead an effort capable of becoming a hub for vaccine production.”

“Brazil could indeed be manufacturing a higher number of vaccines and eventually lead a regional purchasing process, but it can’t even coordinate actions domestically. As a result, other players in the region, and also from abroad, such as China and Russia, have been playing this role, further deepening their presence in Latin America.”

Esteves does not believe that the Mexican-Argentine partnership could develop into a larger alliance:

“With serious internal crises, Argentina increasingly economically dependent on China, and Mexico tied to the United States, I don’t see how this relationship could deepen. There is a potential to strengthen certain institutions in the region, such as the ECLAC (Economic Commission for Latin America and Caribbean States), of which Mexico is rotating president.”

The latest moves by AMLO, as the Mexican president is known, and the partnership with Fernández, evidence a change in tone from the denialist discourse he had at the beginning of the pandemic, when he was even compared to Bolsonaro. According to Dawisson Belém Lopes, professor of international politics at UFMG (University of Minas Gerais), the partnership in favor of vaccination may effectively help the leaders restore their image.

“Fernández has skillfully used the current context diplomatically to leverage Argentina’s role. AMLO himself, who was a denialist and against the vaccine, has understood the potential political rewards that a broad and quick vaccination of the population can yield, not only for economic recovery, for sectors such as tourism, and for the improvement of social and health conditions, but thinking about a potential re-election. By supporting each other, they can please their populations. In the pandemic context, foreign policy and domestic policy are strictly the same thing.”

Source: O Globo

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