In Chile, the budget office lowers its GDP estimates and raises its fiscal deficit forecast for 2014

Summary

Chilean government expenditures should help to support aggregate activity figures in 2H14. Meanwhile the credit conditions survey revealed more restrictive conditions in both consumer loans and mortgages. In Colombia, President Santos confirmed Cárdenas as the Minister of Finance, a sign of continuity of economic policies that will likely drive a tax reform and allow the ambitious 4G infrastructure plan to continue.

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