☀ Domingo Brief — LatAm Game Developer Paradise
Each Sunday, take two minutes to catch key stories and opportunities shaping Latin America.
Welcome back to the Domingo Brief! This week, we’re keeping up with Brazilian economic diplomacy, the Mexican energy market, and more.
Trivia of the Week
Just 14% of you correctly guessed Mexico as the first Latin American country to formally withdraw from the 1947 Rio Treaty. The Inter-American Treaty of Reciprocal Assistance, more commonly known as the Rio Treaty, was the first of many hemispheric defense doctrines under a mutual security principle. The treaty was signed by all then-independent countries in the Americas on September 2nd, 1947 in Rio de Janeiro, hence the colloquial name, and came into force a year later. In 2002, over disputes with the US over the Iraq War and the subsequent possibility of Latin American involvement, Mexico was the first country to formally withdraw from the treaty.
Each week, tune back in for the answer to the previous week’s trivia question. No cheating!
🇦🇷 Argentinian Minister of Economy Luis Caputo assured that the country’s 2025 interest & capital disbursements will be paid using fiscal surplus, in contrast with President Javier Milei’s earlier statements of using sale-and-repurchase agreements (repos). The expiry of these hard currency sovereign bonds amounts to a payment of $7.6B; however, Caputo guaranteed that the government already has the pesos needed to buy the dollars to pay the interests, downplaying concerns about Argentina’s risk premium and re-emphasizing efforts for economic recovery.
🇧🇷 Brazilian president Luiz Inácio Lula da Silva is looking establish a long-term strategic partnership with his country’s biggest trade partner, China, following the upcoming G20 summit in November. While details of the negotiation remain unknown, Lula noted that Beijing aims to discuss its **Belt & Road Initiative** (BRI), hinting at his willingness to consider adhering to the project’s development.
Latinometrics: Brazil and China have had a strategic partnership since the early 1990s—in fact, it was China’s first such partnership with any country worldwide. But given this week marked a half-century of diplomatic relations, both Lula and his Chinese counterpart Xi Jinping are playing up the importance of this year for deepening bilateral ties. This could well be the year Brazil joins the BRI, following neighboring Argentina’s lead in 2022.
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