Bloomberg Línea — Ecuador’s government has submitted a bill to the Legislative Assembly to place bonds abroad over a period of four years. The maximum amount to be placed is $1.5 billion per year, starting in March 2023 and continuing in March 2024, March 2025 and March 2027. The maturities of the bonds would be at a minimum of five years.
Panama has begun a transition to electric vehicle use with the enactment of a law to foment the development and operation of electric mobility. The legislation establishes that as of 2025, 10% of public transport must be electric, increasing to 25% in 2027 and 40% by 2030.
On the region’s stock markets, Chile’s IPSA (IPSA) led the region’s recovery after Tuesday’s losses, with a rise of 1.57%, while Brazil’s Ibovespa (IBOV) closed with a 1.05% advance.
Following is a roundup of Wednesday’s news from Bloomberg Línea and Bloomberg reporters across Latin America.
Argentina:
- The CEO of PanAmerican Energy Group, Marcos Bulgheroni, said Wednesday that gas has to be “a priority” for Argentina, highlighting that it is “a clean fuel”, and that the country must become an exporter of shale gas, taking advantage of its vast reserves of the resource.
Brazil:
- Closed since 2020 due to the pandemic, Agrishow, the largest agricultural fair in Latin America, has opened this week, and which brings together representatives of agribusiness from across South America. Bloomberg Línea went backstage to learn about the event’s history and its potential for the closing of significant business deals.
Chile:
- Bloomberg has updated its Covid Resilience Ranking, according to which Chile was ranked as the best country in Latin America in which to endure a pandemic in April, with the country having also come out top in the region in March. Chile ranked 13th out of 53 countries in April, having moved up five places compared to March. In contrast, Peru was ranked among the worst countries in which to endure a pandemic.
Dominican Republic:
- Mexican cement giant Cemex has announced the reopening of its second line at the San Pedro Macoris plant, its main cement operation in the Dominican Republic.
Ecuador:
- Ecuador’s government has submitted a bill to the Legislative Assembly to place bonds abroad over a period of four years. The maximum amount to be placed is $1.5 billion per year, starting in March 2023 and continuing in March 2024, March 2025 and March 2027. The maturities of the bonds would be at a minimum of five years.
El Salvador:
- Mexico’s President Andres Manuel Lopez Obrador will visit the country in early May as part of a wider tour that will also take in Guatemala, Honduras, Belize and Cuba. Migration, development cooperation and economic integration are some of the issues to be discussed with those countries’ authorities during his trip.
Mexico:
- Inflation has raised the prices of black beans and chicken in Mexico, two essential components of the staple diet, along with corn and wheat, as a result of the war in Ukraine. Black bean prices per ton increased by 67.2% in January, while chicken prices rose by 64%.
Panama:
- Panama has begun a transition to electric vehicle use with the enactment of a law to foment the development and operation of electric mobility. The legislation establishes that as of 2025, 10% of public transport must be electric, increasing to 25% in 2027 and 40% by 2030. The transition to electric vehicles has been slow so far, with a total of 65 electric cars sold in the country in 2021.
