Jaime Perez-Seoane de Zunzunegui: ALL BLOG POSTS
Largely thanks to the recovering prices of some key commodities, the region recorded a positive first quarter in 2018, with the IMF forecasting Latin America and the Caribbean’s GDP growth for the year to reach 2%. Currency volatility remains among the primary challenges, however, offsetting some gains. The economy is thus centre stage in countries headed to the polls this year, potentially ushering in a period of economic transformation in several of the region’s major players.
With national elections scheduled for July and the renegotiations of the North American Free Trade Agreement (NAFTA) ongoing, 2018 was likely to be a turbulent year for Mexico. In spite of this, the business community appears to be more optimistic than ever. In our latest OBG Business Barometer: Mexico CEO Survey, 88% of interviewed C-suite executives had positive or very positive expectations about local business conditions over the coming 12 months. As the election nears, however, respondents said that tackling corruption (36%) and improving rule of the law (19%) should be the main priorities for the next administration.
With elections scheduled in Colombia, Mexico and Brazil, the coming months will be crucial for the interests of Latin America. For Mexico, 2018 was expected to be a somewhat turbulent year, but in spite of this, the business community appears more positive than ever.