Colombia and more Latin countries, contrary to economic development?

In an opinion column, the editor for Latin America of the Financial Times, Michael Stott, I assure that the countries of the region have been ‘blessed’ with favorable political, economic and geopolitical conditions, however, the presidents miss out on those advantages,”they seem to have other priorities“.

(See: What is the blue economy and why it is vital for Colombia and Latin America).

The editor points out that “andn the midst of Latin America’s struggle to manage good economic growth, it seems that countries do not recognize the extraordinary advantages that have been uncovered“.

In the case of Brazil, as he said, he could take advantage of the conditions to think about green hydrogen, but instead “wants to build oil refineries, revive shipbuilding and seek a monetary union with its near-bankrupt neighbor, Argentina“.

(See: Latin American exports slowed down in the first quarter of 2023).

Refering to Chilean reality, He commented that in order to exploit the country’s lithium reserves, he put future projects under state control, generating a panorama of confusion and uncertainty.

For Mexico, Stott points out that: “It should be the best positioned Latin American nation to win the so-called close-shoring business, given its proximity to the US and its free trade agreement.“but contrary to expectations”abolished investment promotion agency, attacked renewable energy companies, halted a large US beer project“.

(See: The factors that would influence Colombia’s GDP in 2023).

About Argentina He argued that agricultural potential has been slowed down by taxes and foreign exchange on exports. And to this is added that inflation continues to skyrocket.

AND… what about Colombia? For the editor, one of the pillars of the economy is mining and oil, therefore it seems to be going against it by refusing new exploration projects.

Stott concludes that in Latin America has created an anti-business climate, matter that would translate into less investment and development.

(See: Panorama: the delicate situation the world economy is going through).

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