Latin America Economic Outlook: Leader in Clean Energy

Latin America currently stands as a world leader in clean energy alternatives and hopes to achieve net-zero emissions by 2050.

 

But some of its subregions fare better than others. Latin America’s abundance of riverways allows hydropower energy to keep its industries and communities up and running, but countries will need to diversify their renewable resources to stay on target.

Political unrest has escalated instability in several countries in addition to climate change. Elections in 2021 and 2022 shifted with new outsiders taking the place of powerful existing leaders in Peru, Chile, Honduras and Costa Rica, causing additional political uncertainty for the future. The unstable political environment is a roadblock to innovation, education and infrastructure, all of which factor into the region’s slow economic growth forecast.

While Latin America’s economy had a surprisingly strong recovery from the pandemic, it is already losing steam. Businesses should keep an eye on changes in structural reforms across the region.

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The latest reports by our expert economists can give you peace of mind on what lies ahead in the countries you serve. You can find the full Latin America report here.