Welcome to our weekly roundup of news from South America.
Mosoj ESG provides information, data and analyses relating to South America integrating Environmental, Social and Governance topics to promote sustainable development.
The double-dip is here
This week we continued to monitor the economic impact of the second wave of the pandemic in South America. As can be seen in the below graphs, Google Mobility data appears to suggests that in some countries (Brazil, Bolivia, Colombia), there is a marked slow-down in activity level compared to the last quarter of last year, and for sure the same period in 2020.
Source: Google Mobility Data
There is some good news, however, in that the second wave appears to be past the peak in several countries. Peru and Paraguay were nevertheless still showing signs that the number of cases could reach higher levels.
Source: Our World in Data
Nevertheless, as the pandemic still rages, and with little hope to vaccinate a sufficient number of people in the short to medium term – and with concerns about vaccines efficacy – the overall picture remains dire for 2021.
Vaccination delay expected to take at least $28 bn from GDP this year
Gross debt of public sector rises to 89.3% of GDP in 2020
Brazil’s energy efficiency grew by 14% in 14 years
Mining revenues were $38.7 bn in 2020, 36% higher than in 2019
Petrobras concludes 2020 with 33% rise in oil exports
BNDES anticipates payment of $7 bn to the Treasury
Micro and small businesses generated 293,200 jobs in 2020, says Sebrae
Bradesco’s net income is $1.2 bn, up 2.3% in one year
BrasilAgro acquires areas in Bolivia for $30 mn to plant grains and sugarcane
Mineração Vale Verde obtains $140 mm for project in Alagoas
Plastic recycling rate in the country grew by 8.5%
IDB division launches green and social securities with ‘transparency’ guaranteed
IMF reviewed down Argentina’s growth to 4.5%
Argentina raised $940.02 mn in treasury bills and bonds
France says won’t ratify Mercosur trade deal in current form
New tax on the rich will raise around $3 bn
Tax collection grew 46.6% in January, reaching $8.81 bn
Industry rebounded by nearly 10% in January
Agribusiness projected to generate $35.9 bn in foreign exchange by 2021
Vaca Muerta recorded a 42% rebound in activity in January
Argentina’s cement market expands 20% in January
Argentina invested over $500 mn in State carriers
Automotive production rose 17.5% in January
OECD projects Chile’s GDP will increase 4.2% in 2021
Chile is top country in Latin America for foreign investment, says Milken Institute
InvestChile portfolio projects grew by 23% to over $21 bn
Engie Chile secures $125 mn to build Calama wind project
Chile produced 1% less copper in 2020
Chile’s Codelco output plunged 16% in December
Opdenergy starts construction on $90 mn 104-MWp solar plant in Chile
381,000 people in Chile stopped being defaulters in 2020
Travel within Chile projected to fall 45% during the summer season
Fedefruta estimates 80 thousand jobs will be affected by the agriculture crisis
Pension funds in January show positive results
Falklands Latam’s links to Chile & Brazil suspended until June
Chile’s Mining Production Index fell by 9.3% in December 2020
Investment in the Fintech industry reached $187mn in 2020
Investment in Colombia oil and gas industry fell 49% in 2020
E-commerce projected to grow by 16% in 2021
Colombia’s Petroleum sector projects up to $3.45 bn investments in 2021
Life insurance had a turnover of $13.038 billion as of November 2020
Pension funds reached $88.88 billion in 2020
Flower exports expected at $1.5 bn in 2021
Unlicensed access to 6 GHz band will add $58.93 bn to Colombian economy
Central bank projects Colombia to grow 4.5% in 2021
Colombian coal production hits 16-year low
More than 70% of tourism companies are betting on flexible packages in 2021
24.5% of Colombians had a drop in income in 2020
Industrial sector declined 11% in 2020
Financial system profits plummet by 58%
Hydrocarbon and mineral exports fell 28% in 2020
Government invests $8.48 mn in 39 contracts related to the fight against COVID-19
Senate approved $350 million loan from CAF
Government to allocate $437.05 mn for hydrocarbon subsidies
The State has already spent $561.26 mn to pay the Hunger Bond
FIE buys the shares of Bamboo Capital Partners
Rains have caused $50 mn losses to Bolivia’s soybean sector
More than 8,300 people registered for 5% VAT refund