March 16, 2021 |
In March 2020 the Ecuadoran city of Guayaquil provided the world with some of the most chilling images of Covid-19’s deadly potential. The cemetery reached capacity, the city ran out of coffins, there were bodies in the street. In April the country will be the first of three Andean countries to elect a new president in 2021. Following a year of protests in 2019, the human and economic cost of the pandemic look set to accelerate the swing of the political pendulum towards anti-establishment, left-wing candidates.
Latin America is home to around 8% of the world’s population but by August last year accounted for 18% of Covid-19 cases and 28% of Covid-19 related deaths, according to WHO statisti
The Covid-19 pandemic has seriously undermined incumbent governments and boosted Latin America’s political left to its strongest point since the ‘pink wave’ of socialist governments in the early 2000s. This year the presidential elections in Chile, Ecuador, Honduras and Peru, combined with legislative elections in Argentina and Mexico spell uncertainty and political risk for investors.