US Government Shutdown Affects Economies of Mexico and Brazil Fox News Latino
go to original October 9, 2013

President of Mexico Enrique Pena Nieto and President of Brazil, Dilma Vana Rousseff arrive to pose with other leaders for a group photo during the G20 summit on September 6, 2013 in St. Petersburg, Russia. (Photo by Alexander Vilf/Host Photo Agency via Getty Images)

As the partial shutdown of the United States government limps into a second week, its effects are being felt not just at home but across the globe. In Latin America, currencies have swung up and down with economists and analysts keeping close watch on the action in Congress for its immediate and long-term impact on the region.

The two largest economies in Latin America, Brazil and Mexico, saw their economies rise and fall respectively in the wake of the U.S. government shutdown and, next up, possibly defaulting due the debt limit impasse. The Mexican peso plummeted to a monthly low because of concerns over demand in the U.S. for Mexican products, while Brazil’s real currency shot up because of speculation that the shutdown would delay the U.S. Federal Reserve’s stimulus program that injected cheap U.S. cash into emerging markets throughout the world.

Read the rest at Fox News Latino

Related: Failure to Raise U.S. Debt Ceiling Could Have Huge Impact - Mexico

We invite you to add your charity or supporting organizations' news stories and coming events to PVAngels so we can share them with the world. Do it now!