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Avianca indicated that the restrictions were necessitated by “the constant restrictions in different countries in terms of limitation of the entry of tourists, operational reductions, as well as mobility within cities, and the high uncertainty that passengers still have."

The company also plans to open new warehouse clubs in Guatemala City, Guatemala and Bucaramanga, Colombia in the fall of 2021, and in Portmore, Jamaica in the spring of 2022. Once these three new clubs are open, the company will operate 50 warehouse clubs.

With the addition of this new Colombia club and the new clubs already under construction in Guatemala City, Guatemala, and the Kingston suburb of Portmore, Jamaica, PriceSmart expects to have 50 clubs in operation by spring 2022.

While the homicide rate in Colombia fell again in 2020, the nation struggled to confront a number of other security threats. The 12,018 homicides recorded across the country last year marked a murder rate of 24.3 per 100,000 people, down just over six percent from the total...

PriceSmart, Inc. (NASDAQ: PSMT) Net Merchandise Sales grew 2.8%, after negative 3.1% FX impact. Comparable Net Merchandise Sales decreased 1.7%, after 2.9% negative FX impact. E-Commerce Penetration was 2.8% of Total Net Merchandise Sales

Moody's changed to negative, from stable, the outlook on Bancolombia's ratings, while it maintained the negative rating outlook on Banco de Bogota and Davivienda. These actions follow the change in outlook to negative, from stable, on the Government of Colombia's Baa2 government...

For the five weeks ended August 30, 2020, comparable net merchandise sales for the 42 warehouse clubs open at least 13 ½ full months decreased 2.8% when compared to the same period last year.

Bancolombia announced an agreement to acquire full ownership of GAH. Under the agreement, Bancolombia will buy the remaining 40% stake in GAH that it currently does not own. This transaction was approved by the Colombian, Panamanian, Guatemalan, and Barbados regulators.

The Institute for Health Metrics and Evaluation (IHME) at the University of Washington is forecasting nearly 388,300 people will die from COVID-19 in Latin American and Caribbean nations by October 1. Brazil is expected to exceed 166,000 deaths and Mexico 88,000. Six other...

According to Fitch Ratings, Latin America sovereigns' weak public finances make them particularly vulnerable to the coronavirus crisis by limiting both their counter-cyclical policy flexibility and their ability to support post-crisis economic recoveries. The pronounced negative...