Inflation runs rampant across the world. US interest rates, the most powerful force driving money across borders, from which no economy can hide, rose faster than at any time in 40 years, taking a clutch of banks down in their path.
Not least in Latin America, where you might expect economic chaos to have ensued.
After all, Argentina is Argentina. In Brazil, a new president lashes out at the central bank and tries to relax the country’s budget rules. Mexico’s leader takes aim at its electoral institutions and hands a slew of new authorities to the military. Chile’s leader takes a second shot at redoing the constitution after failing the first time. And Peru’s leader tries to shutter Congress but is put in prison instead.
The injection of economic turmoil…
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Sunday Independent (Digital) - 1 Issue, 2023-04-09