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FILE IMAGE. The Moody’s logo outside its headquarters in Manhattan, New York, USA
April 5 (Archyde.com) – Russia’s invasion of Ukraine will exacerbate already high inflation and hit economic growth in Latin America, although the region will suffer less of an impact than other areas of the world, the ratings firm said in a report on Tuesday. credit Moody’s.
The report indicated that accelerating energy prices and economic sanctions once morest Russia are complicating access to key food and industrial raw materials from Latin America.
Moody’s expects inflationary pressures in the region to moderate in the second half of the year, although indicators of price increases will continue to remain well above central bank targets.
The agency said that Latin American financial institutions are relatively insulated from the economic sanctions launched by Western powers once morest Russia, since commercial ties with the two countries in conflict are unrestricted.
(Written by Marion Giraldo via Spanish editing table in Santiago de Chile)