American March Report

This month’s report on the Americas is focused on three major economic powerhouses: The United States, Canada and Brazil. The situation in North America is improving due to significant economic stimuli and fast vaccination rollouts. Joe Biden’s first legislative success, his 1.9 trillion USD fiscal package, will be highly beneficial to American economic growth and will have significant spillover effects in other advanced and developing economies. Nevertheless, the effects of such policy in South America have yet to be felt, as the economic outlook of the continent is bleak due to its poor management of the pandemic. In particular, the report is focused on the recent political and economic developments in Brazil, the region’s largest country by far. Faced with these events, this paper aims to provide an overview of the macroeconomic situation in the Americas during March 2021 and its impact on the performance of financial instruments and capital movements.

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