Pandemic drives Latin America’s debt up to 79.3% of GDP

The Covid-19 pandemic has amplified the financial needs of Latin American countries to cope with the health emergency. It has generated an increase in the region's debt levels from 68.9% to 79.3% of Gross Domestic Product (GDP) between 2019 and 2020, making Latin America and the Caribbean the most indebted area in the developing world. A new report by the Economic Commission for Latin America and the Caribbean (ECLAC) reveals that the health contingency has magnified Latin America's structural gaps and put its resilience at risk.

YPFB activates an exploration plan in 20 areas with a $400 mn investment

According to data from the Ministry of Hydrocarbons, gas production, the main export product to Argentina and Brazil, contracted up to 17%, while liquids (gasoline and diesel) production fell to 13% in 2020. Given this, the state-owned Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) informed that during the 2021-2022 period, it would implement an exploration plan that includes the execution of 20 projects, reaching an investment of $400 million.