Nimble Colombia is outshining Brazil on growth
Swift growth by nimble Latin American countries like Chile, Colombia and Peru has put renewed focus on regional heavyweight Brazil, whose relatively closed, high-tax economy is now sputtering below its potential.
The three Andean countries grew more than twice as fast as Brazil last year and are expected to outpace it again this year. Brazil has also lagged its peers in the BRIC club of emerging market heavyweights.
Officials in the Andean countries say they have benefited from low public debt loads, fiscal surpluses that allow them to invest heavily, and an aggressive pursuit of free-trade deals with big countries.