LatAm to pass its election year test

Argentine president Mauricio Macri’s passed his crucial mid-term test with flying colours. He gained some seats but, more importantly, momentum in his reform programme was maintained with the population’s clear validation of his attempt to move the economy onto more orthodox footing.

Reinforcing last year’s good political vibes, Chile’s presidential election continued the market-friendly theme with the election of president Sebastián Piñera in mid-December.

Taken together, can we expect these to be a positive signal for this year’s important electoral tests in Colombia, Mexico and Brazil?

Not really.