Latin America’s economy, taken as a whole, is set to contract 0.9% in 2016, dragged by Brazil’s recession. According to BBVA Research’s Latin America Situation report corresponding to the first quarter of 2016, the region’s economy is expected to start gaining momentum in 2017, with a growth rate of 1.9%.

NOTHING’S IMPOSSIBLE

Nothing can stop Nori Gallegos [BBVA Bancomer, Mexico]. She knows that with patience and lot of teamwork, no distance is too far and no challenge too difficult. “Nothing is impossible. You have to dream big and work every day to make them come true,” she says.

BBVA announces an increase in its financial technology (‘fintech’) fund to $250m and a partnership with Propel Venture Partners (Propel).  BBVA will invest its $250m in Propel’s funds as a limited partner, and Propel will manage the investment independently in a move designed to ensure the capital continues to be invested in the best digital financial services startups.

BBVA executive director said this morning that “the free trade agreement between the EU and the U.S., or TTIP (Transatlantic Trade and Investment Partnership), is an existential agreement for Europe.” José Manuel González-Páramo considers that “trade is at the core of the continent’s DNA, and trade helps us innovate.” Thus, from a point of view of diversifying trade and increasing the soundness of the export sector, “the agreement’s success would be a good thing.”

Market analysts have offered a very positive view about BBVA 2015 results released yesterday.Overall, analysts believe it is a good set of results which confirm BBVA’s  resilience. BBVA’s performance was significantly better than expected, in particular Mexico figures.

Central banks in Latin America are finding it particularly difficult to meet their target of low and stable inflation, since many countries are facing at the same time problems of high inflation (fueled by the depreciation of the exchange rate) and low economic growth.