IBOV 176,716 ▲ 2.30% IPSA 10,989 ▼ 0.33% IPC MEX 66,664 ▲ 0.84% MERVAL 3,231,049 ▲ 0.89% COLCAP 2,294.61 ▲ 0.08% BVL PERÚ 56,194.27 ▲ 1.18% USD/BRL5.10▼ 0.32% USD/MXN17.47▼ 0.43% USD/CLP922.61▼ 0.55% USD/COP3,244▼ 2.97% USD/PEN3.39▼ 0.31% USD/ARS1,487▼ 0.03% USD/UYU40.22▲ 1.20% USD/PYG6,055▲ 1.53% USD/BOB10.14▲ 4.01% USD/DOP58.50▼ 0.09% USD/CRC448.82▲ 1.40% USD/GTQ7.63▲ 2.28% USD/HNL26.72▲ 1.50% USD/NIO36.62▲ 0.26% USD/VES707.92▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD158.07▲ 0.80% USD/TTD6.75▲ 1.32% EUR/BRL5.83▼ 1.02% BRENT 75.75 ▼ 0.72% WTI 71.25 ▼ 1.15% IRON ORE 161.91 — — COPPER 6.29 ▲ 1.21% GOLD 4,120 ▼ 0.26% SILVER 60.28 ▼ 0.17% SOY 1,188 ▲ 0.72% CORN 458.00 ▲ 7.07% WHEAT 642.75 ▲ 5.15% COFFEE 334.15 ▼ 6.39% SUGAR 14.84 ▼ 1.85% ORANGE JUICE 146.35 ▼ 2.37% COTTON 80.87 ▲ 6.18% COCOA 6,007 ▼ 4.79% BEEF 234.75 ▼ 0.21% CATTLE 354.85 ▼ 0.37% LITHIUM 72.40 ▼ 0.58% PETR4 39.44 ▲ 0.59% VALE3 74.42 ▲ 1.74% ITUB4 43.77 ▲ 2.77% BBDC4 18.63 ▲ 3.50% ABEV3 15.87 ▲ 0.95% BBAS3 20.43 ▲ 2.15% B3SA3 15.42 ▲ 4.26% WEGE3 46.47 ▲ 1.60% PRIO3 55.20 ▼ 0.74% SUZB3 41.50 ▲ 1.15% RENT3 40.48 ▲ 2.74% AZZA3 19.08 ▲ 3.36% CSAN3 4.00 ▲ 3.63% RAIZ4 0.36 ▼ 2.70% PCAR3 2.77 ▲ 0.36% GMAT3 3.97 ▲ 1.02% PSSA3 54.09 ▲ 1.39% CVCB3 1.26 ▲ 0.80% POSI3 3.95 ▲ 2.60% SLCE3 13.94 ▲ 1.09% NATU3 8.58 ▲ 1.42% BRKM5 6.51 ▲ 2.36% RANI3 7.97 ▲ 1.40% CSNA3 5.14 ▲ 7.08% CMIN3 5.11 ▲ 5.80% USIM5 8.46 ▲ 1.32% GGBR4 22.95 ▲ 2.09% ENEV3 27.05 ▲ 3.24% CPFE3 47.46 ▲ 2.53% CMIG4 11.31 ▲ 2.08% EQTL3 40.70 ▲ 3.01% LREN3 14.78 ▲ 4.45% VIVT3 35.49 ▲ 2.87% RAIL3 14.03 ▲ 2.04% KLABIN 17.47 ▲ 0.40% RAIA DROGASIL 18.79 ▲ 3.64% RDOR3 35.94 ▲ 2.25% HAPV3 10.57 ▲ 4.97% FLRY3 16.27 ▲ 3.30% SMTO3 15.95 ▼ 0.62% UGPA3 30.54 ▲ 1.46% VBBR3 32.62 ▲ 1.62% BBSE3 39.86 ▲ 1.48% BPAC11 57.33 ▲ 2.96% CURY3 33.72 ▲ 3.12% AERI3 2.08 ▲ 0.97% VIVARA 23.36 ▲ 3.45% COMPASS 25.19 ▲ 2.07% VAMOS 3.04 ▲ 2.70% SANB11 27.17 ▲ 3.50% ASAI3 8.83 ▲ 4.37% SBSP3 30.90 ▲ 3.00% WALMEX 49.29 ▲ 0.55% GMEXICO 198.30 ▲ 1.52% FEMSA 223.67 ▲ 0.58% CEMEX 21.99 ▲ 1.29% GFNORTE 188.06 ▲ 1.46% BIMBO 56.19 ▲ 0.46% TELEVISA 9.62 ▲ 1.37% AMX 23.04 ▲ 1.77% GAP 410.62 ▼ 0.75% ASUR 285.62 ▲ 0.71% OMA 235.79 ▼ 0.93% KOF 182.68 ▲ 0.98% GRUMA 285.30 ▲ 0.96% KIMBER 38.29 ▼ 0.39% SQM-B 67,540 ▼ 2.26% COPEC 6,031 ▲ 0.18% BSANTANDER 78.29 ▲ 1.02% FALABELLA 5,880 ▲ 0.50% ENELAM 84.61 ▲ 0.53% CENCOSUD 2,028 ▼ 1.39% CMPC 1,115 ▲ 1.85% BANCO CHILE 187.97 ▲ 0.52% LATAM AIR 26.12 ▼ 1.06% YPF 74,000 ▼ 2.34% GGAL 8,175 ▲ 3.74% PAMPA 5,165 ▼ 0.77% TXAR 662.00 ▼ 0.38% ALUAR 961.50 ▼ 0.72% TGS 9,485 ▲ 1.88% CEPU 2,325 ▲ 0.43% MIRGOR 17,250 ▲ 0.29% COME 45.70 ▲ 0.62% LOMA NEGRA 3,508 ▲ 0.29% BYMA 309.50 ▼ 0.08% TELECOM ARG 4,185 ▲ 1.58% ECOPETROL 15.47 ▲ 0.52% BANCOLOMBIA 82.89 ▲ 2.42% GRUPO AVAL 5.07 ▲ 1.00% CREDICORP 401.77 ▲ 2.51% SOUTHERN COPPER 175.83 ▲ 0.80% BUENAVENTURA 30.20 ▲ 2.20% MERCADOLIBRE 1,861 ▲ 2.93% NUBANK 13.89 ▲ 1.57% XP 16.99 ▲ 3.53% PAGSEGURO 9.31 ▲ 3.39% STONE 11.20 ▲ 2.14% GLOBANT 30.11 ▼ 3.77% TECNOGLASS 43.96 ▲ 1.90% GAP AIRPORT 235.15 ▲ 0.29% ASUR 285.62 ▲ 0.71% OMA AIRPORT 107.91 ▼ 0.39% AMX ADR 26.28 ▲ 1.70% FEMSA ADR 128.07 ▲ 0.84% CEMEX ADR 12.55 ▲ 1.41% PETROBRAS ADR 17.13 ▲ 0.56% VALE ADR 14.54 ▲ 2.22% ITAU ADR 8.57 ▲ 3.44% SANTANDER BR 5.38 ▲ 4.67% AMBEV ADR 3.08 ▲ 1.32% CSN 1.02 ▲ 6.32% GERDAU 4.51 ▲ 2.15% LATAM ADR 56.57 ▼ 0.82% BTC 63,959 ▲ 1.21% ETH 1,790 ▲ 2.59% SOL 77.95 ▼ 0.12% XRP 1.10 ▲ 0.68% BNB 574.70 ▲ 1.10% ADA 0.17 — 0.00% DOGE 0.07 ▲ 1.62% AVAX 6.74 ▲ 0.85% LINK 7.91 ▲ 2.38% DOT 0.87 ▲ 5.56% LTC 44.67 ▲ 2.07% BCH 248.00 ▲ 4.30% TRX 0.33 ▼ 0.39% XLM 0.19 ▲ 1.04% HBAR 0.07 ▲ 0.41% NEAR 1.89 ▼ 1.43% ATOM 1.58 ▲ 1.75% AAVE 94.97 ▲ 4.07% SELIC 14.25% EMBRAER 84.96 ▲ 1.31% EMBRAER ADR 66.53 ▲ 1.51% JBS 11.91 ▲ 1.49% JBS BDR 60.68 ▲ 1.05% MBRF3 15.78 ▲ 2.40% MBRFY 3.03 ▲ 1.00% INTER 5.87 ▲ 2.71% EGX 52,312 ▲ 0.54% USD/ZAR16.29▼ 0.22% USD/NGN1,376▼ 0.12% NIKKEI 68,558 ▲ 1.20% CSI300 4,781 ▼ 1.96% HSI 24,175 ▲ 0.60% NIFTY 24,207 ▲ 1.02% KOSPI 7,476 ▲ 2.52% JCI 5,924 ▲ 0.20% USD/JPY161.37▼ 0.62% USD/CNY6.76▼ 0.42% DAX 25,067 ▼ 0.20% CAC 8,339 ▲ 0.15% FTSE 10,497 ▲ 0.24% MIB 52,614 ▲ 0.44% IBEX 19,385 ▲ 0.32% STOXX 641.10 ▲ 0.04% EUR/USD1.14▲ 0.11% GBP/USD1.34▲ 0.16% SPX 7,556 ▲ 0.16% DJI 52,593 ▲ 0.20% NDX 29,741 ▲ 0.05% RUT 2,970 ▼ 0.76% TSX 35,267 ▲ 0.19% VIX 15.56 ▼ 1.77% USD/CAD1.41▼ 0.31% US10Y 4.5450 ▲ 0.13% IBOV 176,716 ▲ 2.30% IPSA 10,989 ▼ 0.33% IPC MEX 66,664 ▲ 0.84% MERVAL 3,231,049 ▲ 0.89% COLCAP 2,294.61 ▲ 0.08% BVL PERÚ 56,194.27 ▲ 1.18% USD/BRL 5.10 ▼ 0.32% USD/MXN 17.47 ▼ 0.43% USD/CLP 922.61 ▼ 0.55% USD/COP 3,239 ▼ 3.12% USD/PEN 3.40 ▼ 0.17% USD/ARS 1,487 ▼ 0.03% USD/UYU 40.22 ▲ 1.20% USD/PYG 6,055 ▲ 1.53% USD/BOB 10.14 ▲ 4.01% USD/DOP 58.50 ▼ 0.09% USD/CRC 448.82 ▲ 1.40% USD/GTQ 7.63 ▲ 2.28% USD/HNL 26.72 ▲ 1.50% USD/NIO 36.62 ▲ 0.26% USD/VES 707.92 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 158.07 ▲ 0.80% USD/TTD 6.75 ▲ 1.32% EUR/BRL 5.83 ▼ 1.00% BRENT 75.75 ▼ 0.72% WTI 71.25 ▼ 1.15% IRON ORE 161.91 — — COPPER 6.29 ▲ 1.21% GOLD 4,120 ▼ 0.26% SILVER 60.28 ▼ 0.17% SOY 1,188 ▲ 0.72% CORN 458.00 ▲ 7.07% WHEAT 642.75 ▲ 5.15% COFFEE 334.15 ▼ 6.39% SUGAR 14.84 ▼ 1.85% ORANGE JUICE 146.35 ▼ 2.37% COTTON 80.87 ▲ 6.18% COCOA 6,007 ▼ 4.79% BEEF 234.75 ▼ 0.21% CATTLE 354.85 ▼ 0.37% LITHIUM 72.40 ▼ 0.58% PETR4 39.44 ▲ 0.59% VALE3 74.42 ▲ 1.74% ITUB4 43.77 ▲ 2.77% BBDC4 18.63 ▲ 3.50% ABEV3 15.87 ▲ 0.95% BBAS3 20.43 ▲ 2.15% B3SA3 15.42 ▲ 4.26% WEGE3 46.47 ▲ 1.60% PRIO3 55.20 ▼ 0.74% SUZB3 41.50 ▲ 1.15% RENT3 40.48 ▲ 2.74% AZZA3 19.08 ▲ 3.36% CSAN3 4.00 ▲ 3.63% RAIZ4 0.36 ▼ 2.70% PCAR3 2.77 ▲ 0.36% GMAT3 3.97 ▲ 1.02% PSSA3 54.09 ▲ 1.39% CVCB3 1.26 ▲ 0.80% POSI3 3.95 ▲ 2.60% SLCE3 13.94 ▲ 1.09% NATU3 8.58 ▲ 1.42% BRKM5 6.51 ▲ 2.36% RANI3 7.97 ▲ 1.40% CSNA3 5.14 ▲ 7.08% CMIN3 5.11 ▲ 5.80% USIM5 8.46 ▲ 1.32% GGBR4 22.95 ▲ 2.09% ENEV3 27.05 ▲ 3.24% CPFE3 47.46 ▲ 2.53% CMIG4 11.31 ▲ 2.08% EQTL3 40.70 ▲ 3.01% LREN3 14.78 ▲ 4.45% VIVT3 35.49 ▲ 2.87% RAIL3 14.03 ▲ 2.04% KLABIN 17.47 ▲ 0.40% RAIA DROGASIL 18.79 ▲ 3.64% RDOR3 35.94 ▲ 2.25% HAPV3 10.57 ▲ 4.97% FLRY3 16.27 ▲ 3.30% SMTO3 15.95 ▼ 0.62% UGPA3 30.54 ▲ 1.46% VBBR3 32.62 ▲ 1.62% BBSE3 39.86 ▲ 1.48% BPAC11 57.33 ▲ 2.96% CURY3 33.72 ▲ 3.12% AERI3 2.08 ▲ 0.97% VIVARA 23.36 ▲ 3.45% COMPASS 25.19 ▲ 2.07% VAMOS 3.04 ▲ 2.70% SANB11 27.17 ▲ 3.50% ASAI3 8.83 ▲ 4.37% SBSP3 30.90 ▲ 3.00% WALMEX 49.29 ▲ 0.55% GMEXICO 198.30 ▲ 1.52% FEMSA 223.67 ▲ 0.58% CEMEX 21.99 ▲ 1.29% GFNORTE 188.06 ▲ 1.46% BIMBO 56.19 ▲ 0.46% TELEVISA 9.62 ▲ 1.37% AMX 23.04 ▲ 1.77% GAP 410.62 ▼ 0.75% ASUR 285.62 ▲ 0.71% OMA 235.79 ▼ 0.93% KOF 182.68 ▲ 0.98% GRUMA 285.30 ▲ 0.96% KIMBER 38.29 ▼ 0.39% SQM-B 67,540 ▼ 2.26% COPEC 6,031 ▲ 0.18% BSANTANDER 78.29 ▲ 1.02% FALABELLA 5,880 ▲ 0.50% ENELAM 84.61 ▲ 0.53% CENCOSUD 2,028 ▼ 1.39% CMPC 1,115 ▲ 1.85% BANCO CHILE 187.97 ▲ 0.52% LATAM AIR 26.12 ▼ 1.06% YPF 74,000 ▼ 2.34% GGAL 8,175 ▲ 3.74% PAMPA 5,165 ▼ 0.77% TXAR 662.00 ▼ 0.38% ALUAR 961.50 ▼ 0.72% TGS 9,485 ▲ 1.88% CEPU 2,325 ▲ 0.43% MIRGOR 17,250 ▲ 0.29% COME 45.70 ▲ 0.62% LOMA NEGRA 3,508 ▲ 0.29% BYMA 309.50 ▼ 0.08% TELECOM ARG 4,185 ▲ 1.58% ECOPETROL 15.47 ▲ 0.52% BANCOLOMBIA 82.89 ▲ 2.42% GRUPO AVAL 5.07 ▲ 1.00% CREDICORP 401.77 ▲ 2.51% SOUTHERN COPPER 175.83 ▲ 0.80% BUENAVENTURA 30.20 ▲ 2.20% MERCADOLIBRE 1,861 ▲ 2.93% NUBANK 13.89 ▲ 1.57% XP 16.99 ▲ 3.53% PAGSEGURO 9.31 ▲ 3.39% STONE 11.20 ▲ 2.14% GLOBANT 30.11 ▼ 3.77% TECNOGLASS 43.96 ▲ 1.90% GAP AIRPORT 235.15 ▲ 0.29% ASUR 285.62 ▲ 0.71% OMA AIRPORT 107.91 ▼ 0.39% AMX ADR 26.28 ▲ 1.70% FEMSA ADR 128.07 ▲ 0.84% CEMEX ADR 12.55 ▲ 1.41% PETROBRAS ADR 17.13 ▲ 0.56% VALE ADR 14.54 ▲ 2.22% ITAU ADR 8.57 ▲ 3.44% SANTANDER BR 5.38 ▲ 4.67% AMBEV ADR 3.08 ▲ 1.32% CSN 1.02 ▲ 6.32% GERDAU 4.51 ▲ 2.15% LATAM ADR 56.57 ▼ 0.82% BTC 63,959 ▲ 1.21% ETH 1,790 ▲ 2.59% SOL 77.95 ▼ 0.12% XRP 1.10 ▲ 0.68% BNB 574.70 ▲ 1.10% ADA 0.17 — 0.00% DOGE 0.07 ▲ 1.62% AVAX 6.74 ▲ 0.85% LINK 7.91 ▲ 2.38% DOT 0.87 ▲ 5.56% LTC 44.67 ▲ 2.07% BCH 248.00 ▲ 4.30% TRX 0.33 ▼ 0.39% XLM 0.19 ▲ 1.04% HBAR 0.07 ▲ 0.41% NEAR 1.89 ▼ 1.43% ATOM 1.58 ▲ 1.75% AAVE 94.97 ▲ 4.07% SELIC 14.25% EMBRAER 84.96 ▲ 1.31% EMBRAER ADR 66.53 ▲ 1.51% JBS 11.91 ▲ 1.49% JBS BDR 60.68 ▲ 1.05% MBRF3 15.78 ▲ 2.40% MBRFY 3.03 ▲ 1.00% INTER 5.87 ▲ 2.71% EGX 52,312 ▲ 0.54% USD/ZAR 16.29 ▼ 0.12% USD/NGN 1,376 ▲ 0.08% NIKKEI 68,558 ▲ 1.20% CSI300 4,781 ▼ 1.96% HSI 24,175 ▲ 0.60% NIFTY 24,207 ▲ 1.02% KOSPI 7,476 ▲ 2.52% JCI 5,924 ▲ 0.20% USD/JPY 161.30 ▼ 0.65% USD/CNY 6.7644 ▼ 0.40% DAX 25,067 ▼ 0.20% CAC 8,339 ▲ 0.15% FTSE 10,497 ▲ 0.24% MIB 52,614 ▲ 0.44% IBEX 19,385 ▲ 0.32% STOXX 641.10 ▲ 0.04% EUR/USD 1.1442 ▲ 0.07% GBP/USD 1.3421 ▲ 0.13% SPX 7,556 ▲ 0.16% DJI 52,593 ▲ 0.20% NDX 29,741 ▲ 0.05% RUT 2,970 ▼ 0.76% TSX 35,267 ▲ 0.19% VIX 15.56 ▼ 1.77% USD/CAD 1.4133 ▼ 0.23% US10Y 4.5450 ▲ 0.13%
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Latin America Politics - Brazil

Instability and economic deterioration increase ungovernability in Latin America

By · January 24, 2023 · 3 min read

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“Latin America has always reflected great political and institutional instability, but not like in recent times,” Juan Battaleme, academic director of the Argentine Council for International Relations (CARI), told EFE.

“Today there is political instability in Peru, Bolivia, Argentina, Brazil, Colombia, Venezuela and Central America, and this makes it seem that there is a high degree of instability”, he analyzed.

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These ups and downs, according to the member of the International Institute for Strategic Studies (IISS), “come from a greater degree of social polarization and little possibility of improvement within a reasonable period of time”.

Problems of food insecurity, polarization and loss of competitiveness explain “why we have democratic backlash”, according to Battaleme (Photo internet reproduction)
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This crisis is compounded by the loss of credibility of the democratic system, argued José Miguel Vivanco, senior fellow for Human Rights at the US research institute Council on Foreign Relations.

Most democratic systems in the region offer the possibility of rewarding or punishing incumbent leaders when elections are called, Vivanco recalled.

“This shows that citizens are exercising control through the ballot box, but at the same time it is a proof of great frustration”, analyzed Vivanco, who was for many years director of Human Rights Watch for America.

The adverse economic situation and its consequences for the population are, in the opinion of these analysts, the main factor behind the political and social unrest.

Problems of food insecurity, polarization and loss of competitiveness explain “why we have democratic backlash”, according to Battaleme.

“Caudillismo never leaves Latin America and this leads to the emergence of leaders who offer easy solutions that try to channel social unrest”, commented CARI’s academic director.

Economic difficulties are an important factor, in the opinion of José Miguel Vivanco, because “when an economy stops growing, generating jobs and better opportunities, insecurity grows. If the institutional design is precarious and does not allow the emergence of strong political parties, as in the case of Peru, generates greater political instability”, he emphasized.

Peru‘s international isolation, the attack on democracy in Brazil and the recent diplomatic confrontation between Guatemala and Colombia are also circumstances that are pushing further away the possibilities of regional integration.

“Regional integration works badly because the countries’ realities and objectives are completely different”, says Juan Battaleme.

In this context, the Community of Latin American and Caribbean States (CELAC), whose seventh summit will be held this Tuesday in Buenos Aires, is not only a coordination forum, but also “an arena for China to implement part of its actions policies in relation to the region”.

“Integration is the result of common economic and political interests, and this does not happen in Latin America”, according to Battaleme, for whom “the last great offer of flexible integration” was the FTAA (Free Trade Area of the Americas, sponsored by the USA).

The adoption in 2001 of the Inter-American Democratic Charter was a “genuine attempt” to advance this integration, but the reality two decades later is that “the region cannot be more fragmented”, lamented José Miguel Vivanco.

“The project that has gained strength is that of populism, a populism that is generally authoritarian. Today, everyone is on their own and this desired regional unity is part of the rhetoric of speeches, but in practice it has no connection with reality”, said Vivanco.

With information from Gazeta do Povo

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