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@IDGconnect Latin America 2016: A year of twists and turns ahead

Coming into 2015, one of the biggest issues facing Latin America was the falling price of commodities, as outlined this time last year. Falling oil prices can be detrimental to Venezuela and Colombia while drops in prices for grain, copper, and iron ore can be felt across South and Central America.

Meanwhile GDP in some of South America’s biggest economies has painted a worrying picture. By the end of this year, analysts predict that Brazil’s gross domestic product (GDP) will contract more than 3%. The early November analysis marked the country’s “16th straight downward revision”.
Argentina recently underwent a power shift in its elections with Mauricio Macri, a centre-right conservative, taking the presidency. He has promised to open up the country further to investment, and economic reform will be at the top of his agenda as the IMF has forecast another recession for the country in 2016.

This Argentine election result could possibly be the beginning of a trend across South America too, with growing frustration over current governments, who are struggling on the opinion polls.
Brazilian president Dilma Rousseff’s standing in the polls is at an all-time low and she has faced threats of impeachment. While Venezuela faced its own election on December 6.

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