CARACAS, Friday November 23, 2012 | Update

Venezuela with the poorest business climate in the region

The Economic Climate Index (ECI) improved in Latin America

Friday November 23, 2012  12:31 PM
The Economic Climate Index (ECI) for Latin America climbed from 4.8 points in July to 5.2 points in October, according to a quarterly report published by the Brazilian center for economic studies Getulio Vargas Foundation (FGV).

The indicator hit the same level as in April and way above the 4.4 points reported in October 2011, when it dropped to its lowest level since the world crisis of 2008.

The quarterly index includes assessments made by 140 experts from 18 countries.

The improvement in the business climate in the region came amidst a worsening of the world Economic Climate Index stemming from the global crisis.  Globally, the ECI slipped from 5.2 in April to 4.7 in July and 4.6 in October.

In details, the business climate is better and more favorable in Bolivia, Brazil, Chile, Colombia, and Paraguay. In Peru and Paraguay, the index did not improve, yet it remained favorable. Other countries reported improvements between July-October. However, the business climate continues being unfavorable in Argentina and stable in Mexico, Ecuador, and Venezuela, whose business climate index was 3.4 points, compared to 4.9 points in Mexico and Ecuador.
Venezuelan reservoirs in critical conditions

According to forecasts made in August by National Oceanic and Atmospheric Administration (NOAA), repercussions of El Niño Southern Oscillation (ENSO) phenomenon would be enhanced at least until March 2016.

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