Domestic Politics
Brazilian President Jair Bolsonaro continued to question the decision of various governors and mayors to lockdown cities, warning that Brazil will turn into Venezuela due to unemployment and starvation. Brazil currently has over 4600 coronavirus cases, with 165 deaths. [Merco Press]
After the number of coronavirus cases in Mexico surpassed 1,000, with 28 deaths, the government completely shut down all “non-essential activities” and banned gatherings of more than 50 people. These emergency measures will be in place from March 30 until April 30. [Associated Press]
Mexican President Andrés Manuel López Obrador drew widespread criticism for shaking hands with the mother of a convicted drug trafficker, Joaquín “El Chapo” Guzmán. Critics have lambasted him for defying his own social distancing orders and not taking a hardline stance on criminals. [NPR]
International Relations
The US Department of Justice indicted Venezuelan President Nicolas Maduro and four of his aides, accusing them of narco-trafficking. Secretary of State Mike Pompeo announced a cash reward of $55 million for information leading to their arrest or conviction. In response, Maduro called Trump a “racist cowboy”, while Foreign Minister Jorge Arreaza said that the move indicated the US’ “desperation” and “obsession”. [Al Jazeera]
Economy
Financial experts project that Brazil's $1.8 trillion economy will see its first annual contraction since 2016, with a fall in GDP of about 6%. Thus, President Jair Bolsonaro’s government is preparing a “financial bazooka” to prevent a recession by buying government bonds with newly printed money to lower long-term interest rates through quantitative easing. [Merco Press]
Argentina’s new president, Alberto Fernández, took another shot at his predecessor, Mauricio Macri, saying that he left the country with “unsustainable” debt. Thus, he suggested that he may lean on the International Monetary Fund (IMF), which already granted Argentina a $56.3 billion loan in 2018. However, Fernández said that in order to pay off the debt, Argentina must first grow its economy, with its GDP at its lowest point in the last decade, its GDP per capita at its lowest since 2009, and the foreign debt to GDP ratio at its worst since 2004. [Santiago Times]
Society
The left-wing rebel group, National Liberation Army (ELN), in Colombia declared a ceasefire as a “humanitarian gesture” during the coronavirus pandemic. There are thus far 700 cases in the country, with 10 deaths. The group also said that it was open to renegotiating a peace agreement with President Iván Duque’s government. [BBC]
Law
4,175 people have been arrested in Panama since March 25 for not abiding by the strict curfew and quarantine restrictions. The virus has already killed 24 people in the country. [Newsroom Panama]
Image Source: The New York Times
Latin America in Review: March 31, 2020
Read more about the latest events from Latin America.
March 31, 2020
