"You can cut all the flowers but you cannot keep spring from coming.” - Pablo Neruda
February 1, End Of Day
Wiagro: Wiagro is an Agtech innovator dedicated to digitizing post-harvest processes. Their mission is to reduce global food loss by ensuring quality and keeping assets monitored and insured. Wiagro has digitized over 500,000 tons of produce, preventing the loss of over 7,500 tons of grain at risk. Dive deeper into the case here.
Caligenia: Caligenia dedicated to restoring soils and combating global warming. Their innovative approach converts organic waste into products that improve agricultural yields, transforms degraded soils into productive fields, sequesters carbon to reduce global warming, and generates renewable energy as a byproduct. Dive deeper into the case here.
Worknmates: Worknmates is revolutionizing the way companies and their employees approach remote work. With a mission to "Work from anywhere," Worknmates has established a presence in over 20 countries, partnering with more than 800 coworking spaces. Dive deeper into the case here.
Dive deeper into other fundraising firms in LatAm here.
The global economy is on course for a "soft landing" in 2024, with expected steady growth of 3.1% this year and a slight increase to 3.2% in 2024, despite slow expansion and potential turbulence ahead, according to IMF’s World Economic Outlook update on last Tuesday. Inflation is on a decline, with global headline inflation projected to drop to 4.9%. The IMF highlights divergent growth forecasts across regions.
Emerging markets have shown resilience against global interest rate volatility, with Latin American and Asian emerging markets experiencing reduced sensitivity to US interest rates compared to past periods like the 2013 taper tantrum. This resilience is attributed to improved policy frameworks, increased currency reserves, more flexible exchange rates, and central bank credibility in these regions.
Despite the challenges posed by narrowing interest rate differentials, quantitative tightening in advanced economies, and potential capital flow shifts, emerging markets have managed to maintain stability due to proactive monetary policies and strong commodity prices. However, emerging and frontier economies face challenges like high financing costs and the need for careful policy management to navigate global interest rate volatility and maintain financial stability.
El Salvador: El Salvador's Vice President Felix Ulloa confirmed that Bitcoin will continue to be recognized as legal tender in the country, emphasizing the government's commitment to the cryptocurrency despite the IMF advice to reconsider. This declaration aligns with plans for bitcoin-backed bonds, the development of a tax-free Bitcoin City, and offering passports to investors contributing $1 million in bitcoin. Ulloa, hopeful about overcoming IMF financing challenges, highlighted the country's pioneering role in adopting Bitcoin amidst negotiations for a $1.3 billion loan.
Argentina: The IMF approved a review of Argentina's $44 billion loan program, releasing $4.7 billion in funds. The approval extends the program until the end of 2024 and acknowledges Argentina's recent policy adjustments under President Javier Milei's administration aimed at economic stabilization. This brings total disbursements to $40.6 billion, with expectations for the new measures to support reserve accumulation, reflected in a recent increase in Argentina's reserves to $27.6 billion.
Paraguay: The Inter-American Development Bank has granted Paraguay a $100 million loan to boost its logistics and trade integration, focusing on aiding micro, small, and medium-sized enterprises. This loan, part of a two-loan series, aims to enhance logistics management, infrastructure, and access to international markets, promoting sustainable investment and foreign direct investment.
Exciting news! We have partnered with inDrive, Expert Dojo & TampaBayVentures to bring them more visibility and transparency into the Latin American tech scene.
Here you can read a bit more about the funds, what they a re looking for, and how to register.
