Editor’s Note: This is the first piece of a three-part series examining the impact of declining oil prices in Latin America.
By Allison Fedirka
At the start of the year, Geopolitical Futures assessed which countries throughout the world would suffer most from the exporters’ crisis. One major driver behind this crisis is low oil prices, which have a significant impact on many exporting countries that are highly dependent on oil revenue. For the foreseeable future, low oil and commodity prices are the reality in which these countries must operate. Many have attempted to adjust their 2016 budgets to reflect this new normal. Some, like Saudi Arabia, have taken more drastic measures to try and shore up their ability to face low oil prices.
Approximately 20 percent of the world’s proven oil reserves are located in Latin America, which is noticeably absent from the top 10 list of countries suffering from the exporters’ crisis. Six countries – Argentina, Brazil, Colombia, E
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