LatAm lenders face billions in losses, S&P says

LatAm lenders face billions in losses, S&P says

S&P Global Credit Ratings Economy & Policy Debt Latin America Brazil Chile Mexico Coronavirus

Lenders in Latin America face $136 billion in losses in 2020 and 2021 followed by another $64 billion in 2022 as government aid tails off and countries around the region struggle to dispense vaccines during the COVID-19 pandemic, S&P Global Ratings said in a recent analysis. Brazilian banks stand to lose $74 billion by the end of the year as loan defaults rise and loan growth falls by half in 2021 from 2020, S&P said. Mexican lenders, meanwhile, could post $20 billion in losses, the rati

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