Trade to fall 23% in the entire Latin American region

The international trade of Latin America and the Caribbean will decline this year by 23% due to the impact of the COVID-19 pandemic, which forces a 9.1% decline in the regional economy, says a report by the Economic Commission for Latin America and the Caribbean (ECLAC). Both exports, whose value will shrink 23% this year, and imports, which will be down 25%, will be affected—the setbacks in Latinamerica's shipments of manufactured goods, minerals and fuel. The collapse of tourism (-50%) will drag down service exports, especially from the Caribbean, while intraregional trade will also show a sharp contraction of -23.9%, especially in manufactures.


Mutun’s steel project disbursed about $104 mn, but the progress of the work is not clear

The Mutun steel project to date has disbursed around 104 million dollars. However, there are inconsistencies in the progress of the work; the government argues that the development is 3% and the Consul General of China Wang Jialei reported that the company Sinosteel, which executes the project, has an advance of 40%. The steel plant has already had two failed attempts: with the Brazilian EBX in 2006 and with the Indian Jindal in 2012. In January 2019, the construction of the steel plant began with a 30-month completion period.