How falling oil has hit Latin America

The drop in the price of crude oil from around $115 a barrel to as low as $44 a barrel has had a major impact on Latin America, where many countries are dependent on “black gold” for import and tax revenues.

We were asked by LatinFinance, the magazine that covers the region, to look at how the impact of cheaper oil had impacted the main economies and what the effect might be of a return to previous three-digit prices.

In this article we contributed the results of interviews with leading private sector and multilateral institutional economists as well as comments by the Colombian finance minister Mauricio Cardenas. We saw howe the region was divided into winners and losers and how economists believed the region would cope wth low oil – but benefits is prices rebounded. The full article is here (login).