COLOMBIA
The arrival of 5G equipment in Colombia grew by 63 % in 2024.
In 2024, the entry of cell phones in Colombia reached 9.9 million units, with a 29 % share of devices with 5G technology, representing an approximate growth of 63 %. This progress reflects a greater adoption of high-speed networks in the country, driven by the support of large manufacturers such as Samsung, Oppo, Motorola, and Xiaomi. These brands have diversified their portfolio with a wide range of 5G equipment covering different price segments, facilitating access to this technology for more consumers.
Deforestation in Colombia recorded a cumulative reduction of 40% between 2022 and 2024.
Between 2022 and 2024, Colombia managed to reduce deforestation by 40%, avoiding the felling of more than 212,000 hectares and preserving more than 118 million trees. The Minister of Environment and Sustainable Development, Susana Muhamad, highlighted that in the last year, a historic reduction was achieved, consolidating one of the greatest advances in forest protection. Despite a slight increase in 2024, with approximately 27,700 hectares deforested, the country recorded the second-lowest deforestation figure in its history.
ARGENTINA
This month, Argentina became embroiled in a major political and financial scandal: the “$LIBRA case”. The controversy began when President Javier Milei promoted a new cryptocurrency called $LIBRA on his social networks, describing it as a private initiative aimed at stimulating the Argentine economy by financing small businesses and entrepreneurs. This endorsement triggered a rapid increase in the value of the cryptocurrency, attracting numerous investors. However, shortly thereafter, the value of $LIBRA plummeted, generating significant financial losses for more than 40,000 investors.
On the economic front, the scandal had immediate repercussions. The Argentine stock market suffered significant declines, with the S&P Merval index plummeting more than 5% as investors reacted to the crisis.
The fallout from the fall of $LIBRA had a major impact on President Milei and his administration. Multiple legal complaints were filed against him, accusing him of participating in a fraudulent scheme. In response to the growing scandal, the government authorized the Anti-Corruption Office to investigate the case to determine whether any public officials, including the president, engaged in wrongdoing.
URUGUAY
In February 2025, the Uruguayan economy showed signs of sustained growth. The Central Bank of Uruguay (BCU) estimated that the country’s Gross Domestic Product (GDP) grew by approximately 3.5% in 2024 and projected a similar rate for 2025. This growth is mainly attributed to increased private spending, supported by a recovery in the wage bill and a decrease in the flight of consumption to Argentina. In addition, sectors such as industry and foreign trade have shown positive indicators, contributing to the country’s economic dynamism.
Tourism has also experienced a remarkable recovery. It is projected that during 2025 Uruguay will receive more than 400,000 additional foreign visitors compared to 2024, an increase of 15%. This increase is due, in part, to the narrowing of the price gap with Argentina, which has made Uruguay a more attractive destination for Argentine tourists. This tourist flow is expected to boost key sectors of the economy, generating higher income and employment opportunities in various areas related to tourism activity.
PERU
Peru projected to be the region’s second fastest growing economy by 2025
The Minister of Economy, José Salardi, assured during a press conference that Peru is expected to be the second fastest growing economy in Latin America this year. This is due to several factors such as fiscal improvement and foreign investment, which are helping the Peruvian economy to recover from the recession experienced in recent months. Among the forecasts, Peru expects to gain a dozen new markets for its agro-exports this year, among them Indonesia, the Philippines and Israel, while the country has been registering strong growth in its shipments for years, industry and government sources said.
Regional exports in 2024 hit record high, reaching US$ 62.927 billion and growing 15.5%.
The Ministry of Foreign Trade and Tourism took stock of exports from Peru’s inland regions in 2024. The figures obtained beat the previous year’s record, totaling US$ 62,927 million and growing 15.5%. The regions of Ica and Arequipa were the main exporters in the interior of the country, each contributing 9% of total exports. The regions of Ancash and La Libertad also performed remarkably well, accounting for 8.4% and 7.7% of the total, respectively. The agro-export sector was a key driver of growth in 2024, with increases of 24% in the interior regions and 22% in the national total.
Through the approval of Supreme Decree No. DS 003-2025-MINAM, the Peruvian government launched the National Circular Economy Roadmap to 2030 (HRNEC), which will have substantial benefits for Peru’s sustainable development, including a 2 % increase in the Gross Domestic Product (GDP), around S/. 14 billion. The HRNEC to 2030 establishes a strategic framework that will guide the country’s transition towards a sustainable production and consumption model, aligning sectoral initiatives and policies towards a unified circular economy vision. This regulatory framework will also generate more than 306 thousand new jobs with sustainable production models. In addition, the consumption of 75.3 million tons of materials will be reduced, thus promoting efficiency in the use of resources.
CENTRAL AMERICA
COSTA RICA
73 new investment projects were developed in Costa Rica supported by CINDE in 2024
In 2024, Costa Rica successfully maintained its attractiveness for foreign investment despite a challenging global context. According to CINDE, the country supported 73 new investment projects, of which 21 were new companies and 52 were reinvestments from existing businesses. These projects generated 5,482 new net jobs, with the life sciences sector leading the way by creating 2,599 vacancies. However, foreign direct investment (FDI) is showing signs of slowdown, and competition from other countries remains a challenge, particularly regarding talent availability and operational costs. To maintain its competitiveness, Costa Rica must continue adapting, strengthen its talent ecosystem, and improve its overall competitiveness.
PANAMÁ
Panama launches its economic plan with a $350 million investment and over 10,000 jobs
Panamanian President José Raúl Mulino announced a $350 million investment in 14 projects aimed at reactivating the country’s economy, which will create over 10,000 jobs. These projects include improvements to water networks, the rehabilitation of treatment plants, the construction of hospitals, penitentiary and rehabilitation centers, and the renovation of schools. This initiative is part of a broader plan of 19 projects, designed to boost the economy and generate employment by 2025.
GUATEMALA
The Center for Data Analysis and Artificial Intelligence (CADIA), with an investment of more than US$5 million, boosts operational efficiency and logistics planning through AI and machine learning, strengthening the competitiveness of Guatemala’s productive sector. It also promotes training in emerging technologies, boosting local talent and generating new job opportunities, positioning the country as a benchmark in technological innovation, although challenges remain in terms of digital infrastructure, access to specialized talent, and technology adoption.
EL SALVADOR
IMF concludes Extended Fund Facility Agreement for El Salvador for $1.4 billion dollars
The International Monetary Fund (IMF) approved an Extended Fund Facility Agreement (EFF) for El Salvador for US$1.4 billion over 40 months, allowing for an immediate disbursement of US$113 million. This program seeks to correct macroeconomic imbalances, strengthening fiscal sustainability and financial stability, with a primary balance adjustment of 3.5% of GDP over three years. Priority is given to fiscal consolidation through efficiency in public spending, reforms in the civil service and the pension system, protecting social spending and key infrastructure. In addition, bank liquidity buffers and central bank reserves are strengthened, along with financial sector regulation. Bitcoin project risks are also addressed, limiting government involvement in cryptoasset transactions and purchases. With transparency and governance measures, this agreement seeks to attract investment and generate confidence in the Salvadoran economy, ensuring stronger and more sustainable growth.
DOMINICAN REPUBLIC
Abinader presents indicators on the good state of the Dominican economy
President Luis Abinader presented indicators highlighting the growth of the Dominican economy, including an increase in employment, with over 5 million people employed, and a historic reduction in poverty to 19%. He emphasized the 5.0% GDP growth in 2024, the rise in exports, and foreign direct investment, as well as the country’s financial stability. He also highlighted inflation control, the reduction of public debt, and the fiscal deficit. Abinader reaffirmed his commitment to social well-being and sustainable economic growth.
MEXICO
Mexico faces Donald Trump’s tariff initiative
A week before the one-month suspension of tariff measures imposed by the United States, President Claudia Sheinbaum reaffirmed Mexico’s position on its sovereignty and internal decisions. During an official event, Sheinbaum stressed that Mexico is a free, independent and sovereign country, and emphasized that decisions in the country are made by Mexicans, without influence from external forces. In relation to the tariffs and duties that the United States has proposed, the president questioned the logic of these measures, since, in her opinion, they will harm both nations.
Likewise, the president took the opportunity to remember that, according to the Mexican Constitution, the country is based on three independent powers, which reinforces its sovereign character. Sheinbaum also highlighted the importance of Mexicans residing in the United States, stating that this country would not be what it is without them. He called for unity among Mexicans, both inside and outside Mexico, to defend those living in the neighboring country. “Tell your families that there is a President, governors and an entire people to protect them,” he said, highlighting the significant contribution of Mexican migrants to families in both countries.
Deportations of Mexicans in the United States
Since Donald Trump assumed the presidency, Mexico has received more than 13,400 people deported from the United States, of which 10,485 are Mexicans and 2,970 are foreigners, according to President Claudia Sheinbaum. The president highlighted that approximately 500 Mexican deportees have been able to find employment thanks to the “Mexico Embraces You” initiative, launched in January to support deportees. In addition, Sheinbaum mentioned that, for humanitarian reasons, Mexico has helped some foreigners at the border, facilitating their return to their countries of origin, as in the case of migrants sent to Honduras on recent flights.
BRAZIL
On February 25th, the Chamber of Deputies analyzed Bill 3.339/2024, which proposes increasing penalties for environmental crimes. The main change is the increase in the penalty for forest fires, from two to four years to three to six years in prison, in addition to fines. Furthermore, the bill expands the penalty for emitting pollutants that harm human health or cause the death of animals, raising the penalty limit from four to six years.
Law of the Sea
Also on February 25th, Bill 6.969/2013, known as the “Law of the Sea,” was discussed. This proposal establishes the National Policy for the Conservation and Sustainable Use of the Brazilian Marine Biome (PNCMar). The law aims to regulate the exploration of marine resources and define Brazil’s maritime boundaries, impacting sectors such as energy and mining. Additionally, the “Law of the Sea” may hinder the so-called “PEC of the Beaches” and the privatization of coastal areas, as well as establish a regulatory framework for coastal governance.
Federal Supreme Court (STF)
The STF reviewed cases related to abuse of authority. ADPF 338 questions the constitutionality of increasing penalties for crimes against the honor of public servants, while other actions discuss the legal definition of abuse crimes committed by public agents.
