The Week Ahead: 14-20 October 2024
The Week Ahead: 14-20 October 2024
Welcome to Southern Pulse’s weekly newsletter, where we dive into the major events and headlines set to shake things up in Latin America this week. We’ll keep you updated on key topics we’re watching and events to keep an eye on. If you were forwarded this newsletter, you can subscribe here:
The Week Ahead
This week is marked by high-level visits in Brazil, Mexico, Argentina and Honduras, as well as strikes in Peru.
Monday 14 October
Holiday: On 12 October, several countries in the region commemorated the day Christopher Columbus arrived in the Americas. Colombia will observe the event with a public holiday on Monday called “El Día de la Raza.”
🇧🇷 Brazil will host the first South American Agroglobal Summit. Dozens of lawmakers from Argentina, Brazil, Chile, Paraguay and Uruguay will participate in the agricultural meeting. The event, organized by the Barbechando Foundation, is designed for agribusiness leaders and South American legislators to discuss innovation and the region’s competitiveness. Agriculture is one of the region’s most important sectors, accounting for between 5%-18% of the national GDP in 20 countries according to the World Bank.
Tuesday 15 October
🇲🇽 Mexico’s president Claudia Sheinbaum will meet with Mexican and US investors at the Annual High-Level Dialogue of US and Mexican Businesses (CEO Dialogue) in Mexico City. She will explain her administration’s economic priorities and seeks to provide certainty to investors in light of the country’s judicial reform, Proceso reported. The reform makes it possible for judges and Supreme Court magistrates to be elected by popular vote, among other things.
Wednesday 16 October
🇵🇪 In Peru, unionized education workers demanding higher salaries plan to begin a strike. The Unitary Union of Peruvian Education Workers (SUTEP) said the strike would start in the Arequipa, Loreto, Tumbes, and Ica regions, El Búho reported. SUTEP warned that if the government fails yet again to provide salary increases, union affiliates in other regions would join the strike on 21 October. Classes would be disrupted if the strike escalates, Infobae reported.
Thursday 17 October
🇵🇾 Paraguay’s President Santiago Peña will visit Argentina. Peña will participate in events including the IDEA Colloquium and Inter-American Press Society’s General Assembly. He will discuss the deterioration of democracy and press freedom. Peña’s tour is part of a series of official visits to promote Paraguay as a destination for investment and international development. However, Peña has been strongly criticized at home and abroad for supporting a law to limit the funding and activities of NGOs operating in Paraguay.
Friday 18 October
🇭🇳 In Honduras, an International Monetary Fund (IMF) mission will conclude a two-week visit. IMF representatives will review an assistance deal totaling USD822 million signed in September 2023, focusing on the country’s economic progress and the next steps to strengthen its macroeconomic stability. Honduras increased its monetary policy rate from 3% to 4% in August 2024.
Weekend
Saturday 19 October
🇦🇷 Argentina’s President Javier Milei is expected to discuss whether the country could adopt a central bank digital currency and other topics with a prominent blockchain founder at the annual Tech Forum Argentina in Buenos Aires. Cryptocurrency adoption is on the rise in Argentina. Blockchain analysis firm Chainalysis ranked Argentina 15th on its 2024 Global Cryptocurrency Adoption Index.
🇵🇪 Peru’s Agricultural Development Minister will wrap up his appearance at an agricultural investment forum organized by the Food and Agriculture Organization (FAO) — a United Nations agency. Minister Ángel Manero will travel to Italy to participate in FAO’s Hand-in-Hand Initiative Investment Forum, seeking to strengthen support for family farmers. In August, he played down FAO’s warning that 51.7% of Peruvians face moderate to severe food insecurity.
Sunday 20 October
🇨🇺 Holiday: Cuba celebrates Cuban Culture Day.
Nothing pressing today. Check out this visual examining Uruguay’s upcoming presidential elections on 27 October.
Keeping an Eye On
In this section, we highlight topics or people we will be monitoring during the week.
🇨🇴 Could Colombia’s president face impeachment?
Colombia’s National Electoral Council (CNE) opened an investigation to bring charges against President Gustavo Petro for allegedly exceeding legal campaign funding limits in 2022. Mexican President Claudia Sheinbaum has publicly supported Petro, but US Rep. Michael McCaul (R-TX) said the Colombian president faces “credible allegations.” While the CNE does not have the power to remove Petro from office, the president warned that a subsequent legislative review could eventually lead to his impeachment. As the issue attracts international attention, we will be keeping an eye out for any new developments that could lead to significant social and political changes.
🇪🇨 Ecuador’s president replaced his energy minister. Will a new vision solve the country’s energy crisis?
Ecuador will implement new power cuts for up to 10 hours per day until 20 October to keep the national electricity grid from collapsing. President Daniel Noboa announced the country’s energy minister would be replaced after being in the position for only three months, amid criticism from the private sector and the general public. Environment Minister Inés Manzano stepped into the role last week, replacing Antonio Gonçalves. While about 90% of Ecuador's electricity comes from hydroelectric sources, hydroelectric plants only supply 65% of energy demand, El País reported. The crisis has worsened since Colombia decided not to export electricity to protect its reserves, the news outlet noted. Meanwhile, organized crime confrontations have forced the government to declare a state of emergency. We will keep an eye on further developments in Ecuador, particularly as Noboa seeks reelection in 2025.
Upcoming Events Across the Region
Harvard’s Center for Latin American Studies will host a presentation of “The End of Populism” by Carla Yumatle on 15 October in Cambridge, Massachusetts.
The Atlantic Council will discuss the future of democracy in the Americas on 16 October in Santiago, Chile. The American Chamber of Commerce in Chile, the US State Department, and CNN Chile will participate.
The Inter-American Dialogue will host an online event about tackling corruption and organized crime in Latin America and the Caribbean on 17 October.
Oxford University’s Latin American Center will hold two events in Oxford, UK. The first will be an online lecture about the travails of democracy in Latin America on 15 October, followed by a 17 October history seminar on El Salvador and the end of the Cold War (also online).
The Wilson Center will host an online discussion on 21 October about Mateo Jarquín’s book “The Sandinista Revolution: A Global Latin American History.”
Thanks for taking the time to read The Week Ahead. If there's something you think we overlooked or you'd simply like to share your thoughts, we'd love to hear from you. Feel free to reach out at press@southernpulse.com.
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