1. Latam Chartbook BOULDER STRATEGIES MARCH 2017 Iea usp presentation
Marcelo Carvalho @MCarvalhoEcon

2. GLOBAL MONETARY POLICY
Fed Funds target rate and 2yr Treasury bond yields (%, a.r.)
Source: ECB, FED, BoJ, Macrobond, BNP Paribas
Global monetary policy: still easy

3. GLOBAL: COMMODITY PRICES
IMF non-fuel commodities price index (2005=100)
Source: IMF, Macrobond, BNP Paribas. Dotted lines show IMF forecasts.
Looking better

4. LATAM: COMMODITIES AS A SHARE OF LATAM EXPORTS (%)
Source: IBGE, DANE, INEGI, BCRA, INE. Ratios based on 2013 data.
Export exposure to commodities varies across the region

5. LATAM: REAL GDP GROWTH PERFORMANCE (%, y/y)
Source: IMF, BNP Paribas; *BNP Paribas Market Economics forecasts
Growth is down from the golden days of the commodity price boom, but should recover

6. LATAM: DOING BUSINESS RANKING CORRELATES WITH INCOME
BIGGER NUMBERS MEAN WORSE AT DOING BUSINESS RANK
Source: World Bank, BNP Paribas;
The good: Chile, Mexico, Peru, Colombia. The bad: Brazil, Argentina. The ugly: Venezuela.

7. Latam: Quality of education and infrastructure
HIGHER MEANS BETTER
*Students’ outcomes on mathematics test in the latest Programme for International Assessment (Pisa). The scales reflect the percentile ranking.
Source: OECD, World Economic Forum, BNP Paribas.
Latam countries need to improve their human capital and physical infrastructure