Banks based in Paraguay, as well as those based in Mexico, are expected to be the top performers across Latin America in 2024, according to credit ratings agency Moody’s.
Comparing 10 markets in the region, the two countries were the only ones rated with a “positive” outlook for the year. Seven countries were given a “stable” rating, while Argentina, which has been severely hit with triple-digit inflation, was rated as “negative”.
Analysts at Moody’s cited “operating conditions” as the main factor for the positive outlook for Paraguay and Mexico.
