The country had a great vaccine response and had recently voted to renew its constitution. And became basically a protest against everything the government represents,” explains Ávila.Ĭhile, for years, was the international darling of Latin America. It was a very ambitious and complex proposal… didn’t explain the basics of his project…so, when finally withdrew its proposal, things a wrong turn already. “ was absolutely disastrously sold to the public, basically because it was never explained. The demonstrations were initially catalyzed by a tax reform that was barely communicated to Colombia’s citizens. “ When you add to the effects of the pandemic, and the social situation, economics, and political reality in which the government is very ineffective in dealing with the concerns of the people… a rejection from the part of the people towards the government’s policies,” describes Ávila. Give us a sense of what you’re seeing when you go out,” asks Altamar’s Peter Schechter. “It’s so depressing to see what’s happening, on the streets and the anger that people feel. Today, it is a country in disarray.Ĭolombia has seen a significant uptick in demonstrations, as people take to the streets to air their frustrations and anger. And in that sense, I believe that Brazil has a chance of surprising us again…the situation is complex at the moment, but I wouldn’t discount Brazil as a lost cause-I actually never do,” points out Ávila.Ĭolombia, home of both host Muni Jensen and guest Ricardo Avila, is the closest US ally in the region and a country that made important progress in creating a new middle class and fighting corruption and drug cartels. There is a high probability of choosing someone that looks towards the future and is not entangled in the past. How will Brazil make a comeback, particularly in a world that grows more and more critical of Brazilian president Jair Bolsonaro and his government? “I believe that people are getting tired of the Bolsonaro versus Lula confrontation. Brazil, the region’s economic giant, is plagued with the problems that have historically kept Latin America behind. We’ll do it as has been the tradition before: taking two steps forward and one step backward,” elaborates Ávila.īesides COVID deeply impacting the region in all aspects, the region’s legendary problems of corruption and inequality continue to run rampant. “ This is a region that has proven many times in the past that it can go forward. “ I would say that we will get out of this problem the Latin way, in the sense that is not a straight line… a very complex cycle because of the pandemic, as well as because of the political situation and people feeling the pressures of an economic, health and social crisis,” explains Ávila, who feels that the future might not be as bleak as some pessimists believe.
So, how does the region make its way back to growth? Avila is worried, but not an alarmist. Not surprisingly, homicide rates are exploding, much of it as a result of organized criminals taking advantage of widespread discontent and lawlessness,” notes Altamar’s Muni Jensen. News is dire on the economic front, with expected GDP at double digit negative numbers. “COVID put the brakes on all the good numbers, even more than the rest of the world. The numbers tell the story of a worsening Latin America. However, the global pandemic has brought growth to an abrupt halt, catapulting even the most stable countries onto a path of crippling decline. Latin America made important economic progress in the first decades of the 2000’s, as many of the countries in the region took strides towards more equality, economic prosperity and personal freedoms. He is an economist and has held various positions in the news industry as a foreign correspondent, columnist, op-ed writer and many more, offering one of the most balanced voices in Latin American politics. Ávila has authored several books, one of which is titled Latin America and the Domino Effect. He joins hosts Peter Schechter and Muni Jensen on Altamar’s latest podcast episode to discuss the growing crisis in Latin America. Ricardo Ávila, a respected Colombian journalist and advisor to governments, multilateral institutions, and news organizations, is the former Editor in Chief of Portafolio, Colombia’s respected business publication. There is growing restlessness on the streets: what lies in store for Latin America? Guest: Ricardo Ávila, Colombian journalist, former Editor in Chief of Portafolio, and author of Latin America and the Domino EffectĮconomies crushed by COVID, corruption, inequality and incompetence are weathering a perfect storm.