Private sector takes a beating in Latin America

Political and financial motivations vary, but the region is noticeably lurching towards greater resource nationalism

Many of Latin America’s largest oil and gas producers are slipping into resource nationalism as the pandemic worsens their economic problems, according to a report from political risk consultancy Verisk Maplecroft. Venezuela bagged the number one spot in Verisk’s Resource Nationalism Index, perhaps unsurprisingly considering the country’s rapid descent into hyperinflation and extreme dependence on state oil firm Pdvsa. But it is Mexico that has seen the greatest shift over the past four years, soaring from 99th position to third place, with Tanzania in second. Mexico had started to slip before the arrival of President Andres Lopez Obrador in December 2018. But the president’s nationalistic a