9. Latin American Discontent

Public anger over sluggish growth, corruption and low-quality services will keep the risk of political instability high in Latin America. Argentina’s faces contentious negotiations with private creditors and the International Monetary Fund. In Ecuador, President Lenin Moreno will struggle to cut spending or raise additional revenue, putting pressure on the nation’s IMF program. Meantime, constitutional changes in Chile will hurt the economy by spurring higher spending, greater regulation and persistent uncertainty.

10. Turkish Provocations

President Recep Tayyip Erdogan may lash out in 2020 if he feels his popularity is slipping, further damaging the nation’s already ailing economy. U.S. Congressional sanctions will probably take effect in the first half of the year, putting pressure on the lira. The Turkish leader could enact counter-sanctions, provoking an escalation.

This article provided by Bloomberg News.

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