Hunton Andrews Kurth LLP
  November 6, 2013 - Florida

Latin America 2014: Economic, Legal and Political Trends
  by Jane Bussey, Susan Failla, Carlos Garcia, Jane Hopwood and David Yates

Latin America in 2014 remains a tale of many regions, underscoring ideological, economic performance and political divides among countries that once appeared to march closer in unison. The national economies are further diversified by the varied reactions to the continued volatility of the world economy. With the year well underway, some economic forecasters have trimmed their expectations for economic growth in Latin America and the Caribbean for 2014, from 2.75% to 2.5%. But domestic consumer spending, huge infrastructure projects and world demand for commodities have yielded a level of business activity where no major setback is expected in investment, mergers and acquisitions and demands for professional business services. For the moment, 2014 is not the year of drastic regional reversal, although countries still face major challenges. At the global level, both the easing of the U.S. economic stimulus and the potential for a Chinese economic slowdown will buffet the economies. The two biggest countries – Brazil and Mexico – are experiencing moderate growth. But foreign investors are still eager to take advantage of historic changes in Mexico’s energy policies, as well as opportunities in other countries, especially the Andean nations. This year is a key political year, with eight countries holding presidential elections that experts agree may bring in new faces but no radical changes in economic policies. To safely take advantage of the opportunities, companies need to comply with growing regional compliance rules. The new anti-corruption law enacted in Brazil in early 2012 now imposes liabilities on corporations for corruption of government officials. Mexico enacted an anticorruption law in 2012, and Chile gave teeth to its anti-corruption rules by criminalizing the offering of bribes to government officials. These jurisdictional laws are in addition to the existing U.S. Foreign Corrupt Practices Act and the British anti-corruption legislation, the Bribery Act of 2010. 

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Latin America 2014: Economic, Legal and Political Trends



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