Economy and Development
Today’s headlines surrounding Latin America illustrate a continent full of raging protests in Nicaragua, political oppression in Venezuela, and economic crisis’s in countries like Brazil and Argentina. Yet, there lies one country with significant stability compared to its Latin American brethren. Chile, although it encompasses a similar history to its neighbors, including economic instability, socialism, and military dictatorships—persists as a Latin American success story.
In the past few years, countries throughout Latin America have been narrowing their focus on the renewable energy sector. Latin America was predicted to take one of the leading roles with renewable energy as of 2017.
As the headline in the news remind us daily: immigration in the U.S. is an important policy topic of today. There is a high dependence on the U.S. as haven for refugees and people seeking a better life.
Venezuela’s prolonged economic crisis has not slowed down. The International Monetary Fund projects an 1,000,000% inflation rate by the end of 2018 (Ellsworth). The country’s paper currency, the bolívar, has become nearly worthless while the government scrambles to implement different monetary reforms to ease inflation and reboot the economy. Despite the government’s attempts, Venezuelans have taken matters into their own hands, turning to the black market, exchanging goods and services, or using the U.S. dollar for functionality.