Boric sweeps to victory, ushering in new era in Chile
Read the latest Latin American Weekly Report, exclusively for Canning House Members.
On 19 May, international credit ratings agency Standard and Poor’s (S&P) announced that it had downgraded Colombia’s credit rating from ‘BBB-’ to ‘BB+’, placing it below investment grade for the first time in over ten years. The BB category, otherwise known as ‘speculative’, or ‘junk’ grade, is applied to countries where economic uncertainty is expected to have an impact on the ability to meet future financial obligations. The explanatory note accompanying the decision by S&P highlighted as a cause the recent mass protests that resulted in President Iván Duque withdrawing a tax reform bill that would have increased the tax burden the tax burden on the general population. Whilst not unexpected, the downgrading is another blow to an embattled government, and will increase the costs of borrowing at a time when much of the country needs government support due to the economic upheaval produced by the coronavirus (Covid-19) pandemic.
Download the full briefing to read on...
Learn more and become a member today.
By joining as an individual member you’ll have the opportunity to access our wide range of public events at a discounted rate, as well as additional benefits such as online access to in-depth reports, webinar recordings and This Week in Latin America news articles.
Get the latest information on upcoming Canning House events and other events related to Latin America and Iberia across the UK and beyond.