The invasion of Russia to Ukraine will exacerbate already high inflation and affect economic growth in Latin Americaalthough the region will suffer less impact than other areas of the world, the credit rating firm said in a report on Tuesday Moody’s.
The report indicated that the acceleration of energy prices and the Economic sanctions against Russia they are complicating access to key food and industrial raw materials from Latin America.
Moody’s expects inflationary pressures in the region to moderate in the second half of the year, although indicators of price increases will continue to remain well above central bank targets.
The agency maintained that the Latin American financial institutions they are relatively insulated from the economic sanctions launched by Western powers against Russia, as trade links with the two warring countries are unrestricted.