Millicom International Cellular S.a. · NASDAQ:TIGO
Millicom International Cellular — Oxford Economics Latin America webinar 2019
17 slides from Millicom International Cellular's conference presentation, October 2019
Slide 1: Latin America Economic Outlook
LATIN AMERICA ECONOMIC OUTLOOK Marcos Casarin, Chief Economist for Latin America Oxford Economics October 2019
Slide 2: Macro-Economic Outlook: Summary
MACRO-ECONOMIC OUTLOOK: SUMMARY Regional growth is anticipated to cool this year in line with deteriorating conditions in major economies, soft commodity prices and US slowdown. Key drivers of short term regional growth include: ▪ Commodity prices—countries such as Bolivia, Colombia, Honduras, Nicar
Slide 3: Key External Influencers: Summary
KEY EXTERNAL INFLUENCERS: SUMMARY Growth to settle at around 2% in all key markets except Argentina. Current situation 10 year outlook ▪ US economy is cooling. ▪ Rising trade tensions represent a ▪ GDP growth around 1.9%. US non-negligible risk. ▪ Strong real wage growth should ▪ Dovish US Fed to co
Slide 4: Nicaragua Outlook
NICARAGUA OUTLOOK Political crisis has crippled economic activity and hit confidence, with recovery contingent on crisis resolution and recovery in remittance flows. Economic outlook Consumer outlook 4
Slide 5: Honduras Outlook
HONDURAS OUTLOOK Domestic demand supporting strong growth outlook, supported by robust remittances, with significant catch-up potential. Economic outlook Consumer outlook 5
Slide 6: El Salvador Outlook
EL SALVADOR OUTLOOK Stable remittance flows should support household spending, with long term growth forecast to settle at around 2% per annum. Economic outlook Consumer outlook 6
Slide 7: Guatemala Outlook
GUATEMALA OUTLOOK Steady growth forecast over long term, supported by a stable FX rate, with household spending settling at just over 3% per annum. Economic outlook Consumer outlook 7
Slide 8: Costa Rica Outlook
COSTA RICA OUTLOOK Pro-business government to drive structural reform and support long term stability, with income growth continuing to outperform region. Economic outlook Consumer outlook 8
Slide 9: Panama Outlook
PANAMA OUTLOOK Stable environment to support long term growth, with high incomes supporting consumer spending, although outlook sensitive to world trade. Economic outlook Consumer outlook 9
Slide 10: Bolivia Outlook
BOLIVIA OUTLOOK Growth expected to remain robust over the long term, with stable inflation and solid labour market gains supporting rising household incomes. Economic outlook Consumer outlook 10
Slide 11: Paraguay Outlook
PARAGUAY OUTLOOK Macroeconomic and policy stability to support growth, with solid household spending growth of around 4% per annum forecast over long term. Economic outlook Consumer outlook 11
Slide 12: Colombia Outlook
COLOMBIA OUTLOOK Growth picking up momentum as authorities grasp control of inflation, with income and household spending growth to remain robust. Economic outlook Consumer outlook 12
Slide 13: Summary: Exchange Rates
SUMMARY: EXCHANGE RATES Active management of exchange rates has resulted in much reduced volatility over last decade compared with larger regional peers. 13
Slide 14: Summary: Demographics
SUMMARY: DEMOGRAPHICS Economic growth will continue to be supported by a young and dynamic population over the next decade. 14
Slide 15: Summary: Economic Growth
SUMMARY: ECONOMIC GROWTH Robust growth in GDP and household consumption forecast over long-term, underpinned by significant catch-up potential. 15
Slide 16: Summary: Household Income
SUMMARY: HOUSEHOLD INCOME The number of households with annual income over US$ 20,000 is forecast to grow at a robust 6.6% per annum on average over the next decade. 16
Slide 17: Oxford Economics offices and contact details
Global headquarters Europe, Middle East Americas Asia Pacific Oxford Economics Ltd and Africa Abbey House New York Singapore 121 St Aldates Oxford Philadelphia Sydney Oxford, OX1 1HB London Mexico City Hong Kong UK Belfast Boston Tokyo Tel: +44 (0)1865 268900 Frankfurt Chicago Paris Los Angeles Lond
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