The costs of eccentricity 3
Off mainstream 5
Uruguay: Beating the crisis 18
Country briefs 23
Mexico: fiscal problems and political pressures 23
Brazil: spelled with a ‘V’ 24
Argentina: toying with the IMF 25
Venezuela: breathing room from higher oil prices 26
Colombia: from recession to election 27
Chile: fiscal and monetary leverage 27
Peru: not quite a recession 28
Ecuador: dealing with low growth prospects 29
Uruguay: one of the better performers 29
Dominican Republic: dependent on tourism 30
Guatemala: a resilient economy 30
Costa Rica: nontraditional exports bring recovery 31
El Salvador: in need of a fiscal reform 32
Panama: the best performer in all of Latin America 33
Honduras: political upheaval puts everything on hold 33
Nicaragua: poverty remains the biggest issue 34
Disclosure appendix 50
Disclaimer 51