The new conservative governments are seeking closer ties with Washington without severing relations with Beijing. For Europe, this opens up new opportunities as a trade and investment partner.

After the re-election of Nayib Bukule, his policy of a firm hand against crime but also the rule of law could find imitators in the region.

Guyana, Brazil and Argentina are increasing production, while Ecuador, Mexico, Colombia and Venezuela are losing ground.

However, individual economists see high inflation as a greater threat to growth in the region than the new covid wave.

In Ecuador and Peru, elections have now been held. The Brazilian government successfully auctioned off licenses for airports, rail lines and ports.