Hello, and welcome to the Latin America Weekly newsletter! In this issue: Currency woes hurt Latin American economies, systemic risks to Chile’s healthcare system, investigations in Mexico, and the move by Paraguay for war reparations.
☕ If you like our work and want to give us an extra boost, you can fill up our reporters’ coffee mugs. Supporters get exclusive perks! Find out more.
Devaluation is becoming the norm for South American currencies
This month alone, three out of South America’s five largest economies saw their currencies reach new negative landmarks.
- The value of the U.S. Dollar breached the CLP 1,000 threshold in Chile, ARS 300 in Argentina, and COP 4,500 in Colombia.
- In Brazil and Peru, meanwhile, no new records were set at this moment, but their currencies registered losses of 15 and 5 percent, respectively, since June.
Strong dollar. Part of the decline was explained by a global phenomenon, as the U.S. Dollar gained strength across the board.
- The benchmark DXY dollar index — which measures the U.S. currency against a basket of global currencies — reached its highest value in 20 years, as the greenback turned into...