The latest report from the Fraser Institute shows the Index of Economic Freedom in the World. This ranking published in the Economic Freedom of the World measures the degree to which The policies and institutions of different countries support economic freedom.
There, aspects such as personal choice, the freedom to enter markets and compete, involuntary exchange, personal security and private property are looked at. In total, the index is built from 42 pillars where it is also taken into account if women have the same level of economic freedom as men.
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The broad areas of the degree of economic freedom were: size of government, legal system, and right to property, money, freedom of international trade and regulation.
In the case of Latin America, two countries generated alarm: Argentina and Venezuelaa. These along with Guyana and Suriname were rated as mostly non-free economies. In the case of Colombia, the list placed it as a country with a mostly restrictive economy along with others in the region such as Ecuador, Bolivia and Brazil.
According to the Minister of Finance, the Colombian economy will continue to be dynamic, but will slow down in the second half of 2022.
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Among the mostly free economies in the region are Mexico, Paraguay and Uruguay. On the other hand, Chile, Peru and Panama stand out as free economies.
Among the highest scores, for greater economic freedom, andHong Kong is in first place followed by Singapore. Likewise, other countries such as Switzerland, New Zealand, Denmark, Australia, the United States, Estonia, Mauritius and Ireland stand out.
Along with Argentina and Venezuela, other countries that include the worst places on the list are Algeria, Iran, Democratic Republic of the Congo, Libya, Syria, Zimbabwe and Sudan. Chile is the best placed in South America with the 33rd position in economic freedom, followed by Peru (37) and Uruguay (68).
Colombia was ranked 99th on the list.
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Finally, Asia is the continent with the best standards. In addition to Hong Kong and Singapore, among the First places are New Zealand in fourth and Australia in sixth.
It should be noted that the variables in the list are very broad. In this sense, the Fraser research center takes into account aspects such as the increase in public spending, taxes, the companies it controls the government, asset protection, inflation, wages. Likewise, property rights, freedom of exchange, the conclusion of contracts and the tools of governments for economic regulation.
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