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Latin America Reports: The Podcast
Marcela Torres is the former CEO of Hola Code, a Mexican social enterprise that provides software development training for refugees and migrants who have returned to Mexico after having lived in the U.S. She was recently named winner of the ‘Entrepreneur’ category in the list of Latin America’s top innovators under the age of 35 published by MIT Technology Review. In honour of the International Day of Women and Girls in Science earlier this month, we interviewed Torres about being a female CEO of a tech company in Latin America, a region lacking support and funding for women working in STEM.
LATEST NEWS
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Regional development bank raises $1.5 billion to spur economic recovery
The Development Bank of Latin America announced this Friday that it is issuing bonds for the region’s countries valued at $1.5 billion. It is the largest such bond in Latin America’s history, as countries struggle from the economic fallout of the coronavirus pandemic. The bonds have a term of five years from the development bank that has backing from 17 regional countries as well as Spain, Portugal and a number of international banks. “Achieving the highest amount and the lowest coupon in euros in such a challenging context for the region gives us a more competitive margin of action to […]Read more...
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COVID-ravaged Brazil begins vaccine rollout
Brazil’s government approved a pair of vaccines Sunday as the country struggles to contain the coronavirus. Both the AstraZeneca vaccine and the Chinese Sinovac vaccine were approved as healthcare workers begin to receive the first shots in Latin America’s most populous country. Brazil is still waiting on a shipment containing 2 million doses of the AstraZeneca vaccine that has been rolled out in other countries, like the United States. Meanwhile, the government says it has 6 million doses of the controversial Sinovac vaccine, as a Brazilian clinical trial concluded recently that the Chinese vaccine had just a 50 percent efficacy […]Read more...
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These business risks historically associated with Latin America shouldn’t stop you from investing here
Guest Author In this age of globalization, international expansion is increasingly factored into the forward planning and growth estimates of ambitious companies. Yet many corporate leaders and business owners remain wary of investing in Latin America and the Caribbean because of obstacles historically associated with doing business in the region. But to what extent should those risks be considered barriers to investment today? Latin America is one of the fastest developing regions in the world, making it an enticing destination for foreign businesses. Yet challenges still remain for anyone interested in doing business in Latin America. There are a few […]Read more...
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Costa Rica helps lead global coalition committed to protecting 30% of world’s land and oceans
Tiny Costa Rica is acting as co-chair to the massive High Ambition Coalition (HAC) for Nature and People, which has brought 50 countries together in hopes to protect 30 percent of the world’s lands and oceans by 2030. The coalition co-chaired by France, the United Kingdom and Costa Rica was announced Monday at the One Planet Summit in Paris. “Protecting 30% of the planet will undoubtedly improve the quality of life of our citizens, and help us achieve a fair, decarbonized and resilient society,” said Andrea Meza, Costa Rica’s environmental minister. “Healing and restoring nature is a key step towards […]Read more...
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Eyes are on the new U.S. administration to end “Remain in Mexico” asylum program
Human rights groups are calling on the administration of United States President-elect Joe Biden to end the controversial “Remain in Mexico” immigration program. The program established in 2019 under the Trump administration forces asylum seekers to wait in Mexican border towns as their petition is processed in the U.S. Human Rights Watch released an investigation this week detailing the negative impacts the “Remain in Mexico” policy has on families and children who are trying to seek a better life in the U.S. The report gives insight into a wide range of abuses suffered by the asylum seekers as they wait […]Read more...
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Mexico coronavirus cases surge as US tourists keep coming
Hundreds of thousands of people from the U.S. are again traveling into Mexico each month, despite officials’ warnings to help stop the spread in both countries. More American tourists are going to the Mexican state of Quintana Roo than ever before, according to the Washington Post, with arrivals up nearly 25 percent now compared to the end of 2019. Quintana Roo, where Cancun and other popular beach destinations are located, is receiving up to 100 flights every day coming from the U.S. The Center for Disease Control and Prevention (CDC) in the U.S. has advised people to avoid all travel […]Read more...
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Mexico was the deadliest country for journalists in 2020
At least 13 journalists were killed in Mexico last year, making the Latin American country the most dangerous in the world for journalists. There were 15 reporters killed in the entire Latin American region and 42 total throughout the world up until late November of 2020, according to a recent report by the International Federation of Journalists (IFJ). However, the killing of journalist Felipe Guevara Henao in Cali, Colombia last week adds to the year’s gruesome total. This is the fourth time in the past five years that Mexico has led the federation’s list in the number of journalists killed. […]Read more...
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Honduran environmentalist killed as Latin America struggles to protect its environmental activists
Honduran environmental activist Félix Vásquez was killed this weekend in front of his family by a group of masked men in the village of El Ocotal, police said. Vásquez, a member of the Lenca indigenous community, was a well-known protector of local rivers and forests. He had recently stated his plans to run for Congress with the left-leaning party LIBRE. “We condemn the assassination of Félix Vásquez, indigenous leader, defender of the rivers and forests,” said former Honduras president Manuel Zelaya in a Tweet on Sunday. Honduras has the world’s highest rate of environmentalists killed per capita, according to the […]Read more...
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Q&A with creator of Colombian physical therapy app HealthPhy: “It can inspire other women who dare to enter into tech”
Tatiana Chavarriaga of Medellín, Colombia was recently named one of the 35 top innovators under 35 in Latin America by the Massachusetts Institute of Technology (MIT) Technology Review. The 26-year-old physical therapist turned decorated entrepreneur co-founded the platform HealthPhy with her husband. Their app encourages physical therapy rehab to be done remotely, helping relieve users of persistent pain from the comfort of their own homes. Coming from Medellín’s booming tech scene, Chavarriaga says she’s proud to be the only Colombian woman on this year’s list of top young innovators and hopes that it can show fellow Colombianas that they can […]Read more...
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Malnutrition in Latin America is getting worse, UN says
People in Latin America are facing a growing hunger crisis, a new report from the United Nation says. Hunger in the region has worsened over the past five years in Central and South America at a disproportionate rate compared to the rest of the world. The data is even more troubling considering it studies numbers up until the end of 2019, before the arrival of the COVID-19 pandemic. In 2019, 47 million people classified as hungry and nearly 200 million more were food insecure, which can mean they don’t have enough food on a daily basis or have been forced […]Read more...
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Argentina looks for economic recovery via new ‘millionaire’s tax’
Argentina’s Senate approved a new wealth tax recently that could help bolster country’s economic relief efforts as it tries to rebound from the coronavirus pandemic. According to the new tax, those with more than $2.4 million (over 200 million Argentine pesos) will be paying taxes between 2 to 5.25 percent of their fortune. With some 12,000 Argentineans who belong to that wealth bracket, the government said it expects to raise around $3.7 billion. Those funds will then be used, in part, to give stimulus boosts to small businesses and to help low-income Argentineans get through this health and economic crisis. […]Read more...
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How soon will a vaccine be available to Latin America?
The race for a coronavirus vaccine has heated up, as the United Kingdom announced this week it has authorized the use of the Pfizer vaccine, and will begin giving shots in a matter of days. Pfizer, along with Moderna and AstraZeneca, have recently made news from positive Stage III test results for their vaccines. While some countries seem to be on track to roll out these vaccines soon, where does Latin America fit in the race for a coronavirus treatment? The U.S. government said Wednesday that Chinese producers are expected to be the first to distribute a vaccine in Latin […]Read more...
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Two indigenous women in Latin America honored with top prize for environmental protection
A pair of indigenous environmental activists in Latin America received the 2020 Goldman Environmental Prize on Monday. Leydy Pech of Mexico and Nemonte Nenquimo of Ecuador were two of six winners this year for the top environmental award, which is also known as the Green Nobel. Every year winners are picked from each region in the world. Notable past winners from Latin America include Honduras’ Berta Cáceres, who was murdered after she successfully organized protests that prevented a destructive dam project to be carried out. Pech is an indigenous Mayan who went toe to toe with the former agrochemical company […]Read more...
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Diego Maradona dominated his sport like no one else
In a sport where debate rages endlessly over who the greatest of all time is, opinions vary and a person’s answer depends largely on their nationality and age. Conjecture and subjectivity too often cloud talks of football and its best players. But when it comes to Diego Armando Maradona, who died Wednesday at the age of 60 after having suffered a heart attack, there are a pair of takes that have been virtually solidified into universal truths at this point. The first is that Maradona had the greatest sustained performance of a single player that the sport has ever seen. […]Read more...
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SoftBank set to invest $3 billion more into Latin American tech for post-pandemic deals
The Japanese conglomerate SoftBank recently gave the green light to its Latin American fund to invest the remaining $3 billion worth of capital from the fund into the region’s tech companies and startups. SoftBank’s fund for the region has invested money into 30 companies in Latin America. The SoftBank Innovation Fund said it will look for post-pandemic opportunities in Latin America and the Caribbean, especially when it comes to e-commerce, fintech, and insurtech startups. “COVID-19 has had an impact across the board, but where it is most clear is in e-commerce,” SoftBank managing partner Paulo Passoni told S&P Global this […]Read more...
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Latin America could be next hotspot for cannabis industry despite pandemic
Despite the coronavirus pandemic, new legislation and business partnerships have Latin America on the verge of a cannabis boom, according to a new report. The report from Prohibition Partners, a market research firm studying the cannabis industry, looked at recent investments and laws to keep marijuana more accessible in the region. Recent steps towards wider decriminalization from Paraguay, Ecuador and Argentina, among others, have opened the doors for further investment in the region pertaining to marijuana. Earlier this month, Argentina allowed people to grow cannabis at home and for people to take it medicinally if they are uninsured. Though there […]Read more...
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For Latin America, the reality of climate change is already here
On Tuesday, Hurricane Iota became the second Category 4 hurricane to devastate Central America and the Caribbean in as many weeks, following in the path of Eta, which left at least 150 people dead. Hitting just a few miles from where its predecessor made impact, the Nicaraguan city of Puerto Cabezas has seen heavy structural damage and been left without power. Not only is Iota believed to be the strongest hurricane this late in the season, but this also marks the first time on record that two major storms have been produced in the Atlantic in November. These back-to-back strong […]Read more...
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This week’s 100K LatAm highlights the future of tech innovation in Latin America
Fifteen finalists for the decorated 100K LatAm competition will square off on Tuesday to award the Latin American startups with the most promising ideas. Winners will be chosen according to three categories: pitch, accelerate and launch, as a team of judges made up of entrepreneurs and those in the startup industry rank their favorites. Each startup is judged off its ability to leave a major impact on the region’s health, environment and economy, among other areas. The annual competition is run by the Technical Institute of Buenos Aires (ITBA) in conjunction with the Massachusetts Institute of Technology’s (MIT) Sloan Latin […]Read more...
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Could tech be Colombia’s ticket to economic recovery?
Colombian President Iván Duque has repeatedly said during his time in office that he wants the Adean country to be known as the Silicon Valley of Latin America. Often pointing to the success of a unicorn startup like Rappi, the popular food delivery app now valued at more than $3.5 billion, Duque has made it clear he is all in on tech to provide the economic boost he’s promised ever since coming into office in 2018. But will it be enough in a country where nearly one in every five people are without jobs? The Duque government has promised long-term […]Read more...
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Is a Green New Deal possible in Latin America?
The coronavirus pandemic’s devastating effect on poor and minority populations has given even more credibility to the idea of a Green New Deal in the U.S. But progressive policies that prioritize the environment and look to shift economic power should not just be limited to North America. Latin America and the Caribbean countries can also look towards the legislative proposal up north to provide a roadmap to more equal and just societies that actively account for climate change, according to experts and scholars in the region. But certainly, a huge shift would have to happen before Latin America enters into […]Read more...
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Venezuela’s mistreatment of returnees may be intensifying COVID-19 spread
Venezuela is abusing exiles who have had to return to the country during the coronavirus pandemic, which could be leading to heightened transmission of COVID-19 in the South American country, according to a report from Human Rights Watch and Johns Hopkins University. In the joint report, researchers found the quarantine centers where returnees are being required to stay had severe shortages of food, water, and medical attention. Delays in testing are reportedly keeping people in these quarantine sites longer than the recommended 14 days and risking higher rates of transmission. Officials have said that more than 100,000 Venezuelans have come […]Read more...
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Argentina to incentivize tech sector in hopes of boosting recovery
On Friday, Argentina’s congress passed a bill that is slated to provide tax incentives for tech startups and industry mainstays in hopes of stimulating economic recovery. The tax boosts are slated to last for 10 years and are meant to spur on hiring to turnaround the country’s unemployment figures. The measure could double employment numbers over the next decade, Argentina officials said, and is also expected to increase exports from the tech sector by $4 billion. “There’s absolute agreement among all political parties about the relevance of this sector,” Production Minister Matias Kulfas told Bloomberg on Friday. “The pandemic is […]Read more...
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Latin America in need of immediate stimulus measures, UN report says
Latin American and Caribbean governments will need to provide sustained stimulus efforts to get out of the economic crisis caused by the coronavirus pandemic, a new report from the United Nations suggests. The study released Tuesday by the UN’s Economic Commission for Latin America and the Caribbean (ECLAC) said the region will require “expansionary fiscal policies” to help keep economies afloat. “International cooperation is key to amplifying the space for macroeconomic policies,” said ECLAC Secretary-General Alicia Bárcena. The report noted that the countries of Latin America and the Caribbean are expected to contract by an average of 9.1 percent, which […]Read more...
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Used-car startup Kavak now Mexico’s first unicorn
The Mexican startup Kavak has reached a $1.15 billion evaluation, becoming the country’s first unicorn. The rarefied designation follows a successful September investment round and the used car startup has now raised more than $400 million since it was founded just four years ago. Kavak is the latest Soft Bank investment to become a unicorn – a tech company valued at a billion dollars or more – in Latin America, following Colombia’s Rappi and the Brazilian companies Loggi and Gympass. The Japanese investor has promised to put $5 billion worth of capital into tech companies throughout the region. “We’re very […]Read more...
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34 million jobs lost in Latin America due to pandemic
An estimated 34 million jobs have been lost across Latin America and the Caribbean so far due to the coronavirus pandemic, according to a Wednesday report from the International Labor Organization (ILO). No other region in the world has been as adversely affected as Latin America in terms of incomes lost. Unsurprisingly, it has also been the hardest hit region in terms of infections as there have been 9.3 million coronavirus cases and more than 345,000 deaths reported from the virus to date. The ILO, which is an agency of the United Nations, said in its report that up to […]Read more...
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Latin American economies opening back up despite expert warnings
Peruvian President Martin Vizcarra said Friday that the Andean country will resume with a gradual reopening of the economy in October. Peru will begin accepting international flights again and allow 50 percent capacity in restaurants, although bars and movie theaters will stay closed. This is just the latest case of a Latin American country announcing reopening plans despite expert warnings that countries in the region are doing so too soon. The World Health Organization’s Regional Director Carissa Etienne said recently that governments in Latin America should be careful with their reopening strategies. “Although the entire world is racing to develop […]Read more...
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Public sentiment turning against migrants in Latin America, per new index
Nowhere in the world has public sentiment turned more significantly against migrants than in Latin America, according to a new poll. The Migrant Acceptance Index released Wednesday by Gallup shows that public opinion in Colombia, Ecuador and Peru has taken a negative view towards migrants. Each of the three countries has seen the arrival of millions of Venezuelan migrants in recent years. “Initially, many of the migrants and refugees were welcomed in these countries, but public sentiment started to turn against them as their economies, and their health, education and social assistance programs buckled under the strain,” the report read. […]Read more...
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Q&A: How one Latin American startup is using tech to help hotels keep profits during the COVID-19 pandemic
It’s no secret that the tourism industry in Latin America has been flattened by COVID-19, as the industry is expected to suffer $230 billion in revenue drain and more than 12 million job losses throughout the region, according to Reuters. In Colombia, around 80 percent of hotels were closed before the country reopened and the national hotel association reported a 14 percent occupancy at hotels in July, which is about 50 percent lower than pre-pandemic rates. The hotel industry in Colombia and other countries in the region could take at least two years to fully recover. In the meantime, some […]Read more...
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How ed-tech solutions are helping students in Latin America without Internet access
The COVID-19 pandemic has put more than 150 million children in Latin America and the Caribbean out of school due to closures. These students now forced to study from home are having to adapt to new routines where lesson plans are taught over Zoom and assignments are given over WhatsApp. But for kids living in the estimated 40 million homes in the region that are without Internet, the transition to remote learning is considerably more difficult. Countries face the immediate threat of educational gaps between the rich and poor widening even further. The only countries with fully opened schools are […]Read more...
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Women in Latin America facing increased violence during pandemic
Women’s activists in Mexico took over the country’s National Human Rights Commission building Tuesday in protest of their government’s handling of abuse and violence against women. Dozens of activists have refused to leave the building and are saying they will turn the Mexico City building into a shelter for victims to make up for decades of murders and abuse, according to the Associated Press. The event shows the dire situation facing women in Latin America, who have been more exposed than ever to domestic violence and murder. If we think of COVID-19 as a threat multiplier of existing social and […]Read more...
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Funding continues to boom for Latin America’s fintech industry
Major financial technology firms in Latin America have reported at least $8 billion in funding up to this point, according to the inaugural 2020 Latam Fintech Report from KoreFusion. The recent report done by the San Francisco-based consulting firm on the state of Latin America fintech firms showed the immense growth of the fintech sector in key markets throughout the region. The report looked at 1,075 fintech companies in the five major markets of Argentina, Brazil, Chile, Colombia and Mexico. The categories of fintech firms in the analysis included crowdfunding, digital banks, lending and payment operations, among others. B2B financial […]Read more...
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Unemployment rises across Latin America as COVID-19 continues to hammer economies
For decades, the region had success in lifting people out of poverty, as impoverished rates had fallen to about 30 percent recently. Unfortunately, that progress is sure to be reversed as the COVID-19 pandemic is set to bring a historic recession to Latin America and widen the wealth inequality gap even further. The mobilization of poorer people to the middle class is a road that may no longer exist for many in Latin America, as regional leaders and organizations still need to coordinate on needed stimulus efforts that could help keep people afloat. In all, Latin America is at risk […]Read more...
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Former presidents of LatAm countries push back at Trump’s pick for Inter-American Development Bank Chief
Six former presidents of Latin American countries and Spain released a letter Wednesday calling for the postponement of the Inter-American Development Bank’s election for its next president. The call for a suspension in the vote comes as an unprecedented appointment from the United States is set to take charge of the bank for the first time. U.S. President Donald Trump has previously nominated his Latin American adviser Mauricio Claver-Carone, which has been met with criticism across the Americas. That’s because the regional development bank has always run on the agreement that a Latin American official would serve as its president […]Read more...
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How innovative tech is combating COVID-19 across Latin America
As Latin America finds itself as the world’s current coronavirus hotspot, tech companies and governments are working together to slow the spread and help patients in need. There have been more than 3.4 million cases in Brazil alone, second in global case count only to the United States. Elsewhere in the region, Peru and Chile have faced high death rates and cases continue to climb in Colombia in Mexico. Here’s a look at some notable tech innovations that a few countries in Latin America are using to negate the pandemic’s impact. Colombia In Colombia, tech monitoring has allowed people to […]Read more...
