Macroeconomic Outlook for Latin America in an Unusual Global Economic Environment

The opinion of our chief economists

In this regional optimism, albeit cautious, and with a firm bet on the fundamentals of the region, we organized a round table with the chief economists of the regional subsidiaries of Grupo Santander. During the round table, the heads of economic studies of the Latin American subsidiaries shared their economic outlook for their respective countries and analyzed the different opportunities and challenges that exist in each of them.

“The consensus is that monetary policy calibration will continue to be a latent challenge for the region and the global economy. Looking to the outlook for 2023, we expect inflation to slow and by the end the first signs of a gradual recovery in economic activity,” said Juan Cerruti, chief global economist at Banco Santander.

At Grupo Santander, Latin America is in our DNA and today we are the first bank in the region, where we landed 75 years ago. Our presence on the continent is historic and dates back to the dawn of time: Santander was founded in 1857 in northern Spain with the aim of financing trade between this region and Latin America. Today, our global scale combined with our local scale makes our presence in Latin American countries one of our main strengths as a Group.