Last year, despite Covid, Guyana’s Real GDP growth rate was an astounding 43.4% per the IMF. Pre-Covid it was supposed to be 85.6%. As one of only 3 Countries globally with a Real GDP growth rate over 5% in 2020 as a result of the global Covid-19 pandemic, Guyana’s future couldn’t look brighter.
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A majority of El Salvador’s lawmakers have approved a bill to officially accept Bitcoin as legal tender. President Nayib Bukele has backed the use of Bitcoin, explaining it will help Salvadorans send remittances home. The US dollar will continue to be legal tender in the South American country.
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In contrast to the excitement shown earlier this year, the Brazilian cannabis sector is wary. Several companies promised in January that cannabis-based medications would be on national pharmacy shelves in the first half of 2021. The bulk of them have had their deadlines pushed out to 2021.
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The digital passport, known as VitalPass, has been developed to track immunization Covid-19 utilizing the powerful Algorand blockchain technology, to provide security, traceability and openness throughout Latin America.
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The US government faces a moral dilema if it is to fulfill its electoral pledge to conserve the Amazon rainforest without allowing Jair Bolsonaro, whose government oversaw the rise in deforestation in Brazil, money and political gain.
In his 2019 campaign, Joe Biden vowed to raise USD $20 billion in private and public funds to avoid “losing the Amazon” and warned of “serious economic repercussions.”
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Both the quantity and quality of jobs are deteriorating rapidly as a result of the economic paralysis created by the pandemic. The UN’s International Labour Organization estimates that the health crisis will push unemployment rates in the region up from 8.1% to 11.5% in 2020
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Uruguay’s current government has been pushing for financial inclusion and putting in place new banking laws that support the use of electronic payments, among other measures.
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Chile’s biggest challenge for the banking sector and specially for FinTechs is to make people move their money from “under the mattress” to a bank. Being innovative with disruptive solutions is a game changer for Chilean FinTechs.
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So, why is Brazil the odd-one-out in the IKEA’s emerging markets success? The reasons are many
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Argentina has a very different economic history than its neighboring countries like Brazil. The Argentinian banking industry is broken and more FinTech startups are challenging the status quo, despite many hurdles.
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