NEW REPORT - LatAm Political Risk Update

Our Latin American team of on-the-ground experts has just published the March edition of the Political Risk Report, analyzing the key events that could impact business development in the region's main economies.

Read the full report here.

These are the key highlights of this month's report.

• Mexico: The US tariff war under President Donald Trump is heightening recession risks, leading to economic uncertainty and downgraded GDP forecasts. Mexico is negotiating with the US to mitigate trade impacts while preparing countermeasures if needed.

• Brazil: President Lula's approval ratings are declining as inflation and economic slowdown persist. Supreme court decisions on former president Bolsonaro could further inflame political divisions.

• Argentina: President Javier Milei faces mounting social unrest amid austerity measures. The government is negotiating urgent IMF funding while attempting to stabilize the economy.

• Colombia: President Petro's push for a national referendum on stalled reforms is controversial. Violence perpetrated by armed groups continues to escalate, challenging his governance.

• Ecuador: Rising organized crime and economic difficulties define the pre-election landscape. President Noboa faces mounting pressure after a failed oil concession deal and worsening security issues.

• Peru: The government is struggling with a crime wave, triggering widespread discontent. Public outrage has intensified following high-profile criminal incidents, damaging President Boluarte's approval ratings.

• Bolivia: The 2025 elections are expected to be highly contentious, with former President Evo Morales reentering the political scene despite legal barriers. Economic concerns, including inflation and debt, add to the uncertainty.

Our risk ratings for key sectors are as follows:

● Neutral outlook (no increase or decrease in risk)

● High risk

● Low risk

MARCH RISK SCORECARD