March 27, 2025 | Emerging Markets Debt

Opportunities in Latin America

Get investment insights from our recent tour of Latin America's dollarized economies—Panama, El Salvador, and Ecuador.

We are finishing a three-country tour of the dollarized economies in Latin America. They are Panama, El Salvador, and Ecuador. Each one of these countries is facing unique challenges.

In the case of Ecuador, there’s a very uncertain electoral outcome. However, we’re becoming more optimistic on the bonds as we think there’s too much pessimism priced into what will be a very tight election.

In the case of Panama, we’re coming away slightly more optimistic as we see more paths forward to improve fundamentals in terms of fiscal and growth.

And lastly, in El Salvador, this is arguably the most bullish sentiment we’ve seen from locals in the last 10 years or so. However, we think most of the good news is already in the price of the bonds.

Filmed March 2025

The views and opinions expressed herein are those of the speaker(s) as of the date of publication, are subject to change without notice as economic and market conditions dictate, and may not reflect the views and opinions of other investment teams within William Blair. Factual information has been obtained from sources we believe to be reliable, but its accuracy, completeness, or interpretation cannot be guaranteed. This material may include estimates, outlooks, projections, and other forward-looking statements. Due to a variety of factors, actual events may differ significantly from those presented. This video has been provided for informational purposes only and should not be considered as investment advice or a recommendation of any particular strategy or investment product, or as an offer to buy or sell any securities or related financial instruments in any jurisdiction. Investment advice and recommendations can be provided only after careful consideration of an investor’s objectives, guidelines, and restrictions. Investing involves risks, including the possible loss of principal. Past performance is not indicative of future results.

Topics: Emerging Markets Latin America

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