The number of coronavirus cases is increasing again in Latin America, one of the few regions where the spread of the virus is still accelerating. However, we believe that media reports are excessively negative. The International Monetary Fund (IMF) approved a USD 5bn loan to Ukraine. Argentina reversed its decision to nationalise the bankrupt soybean processing company Vicentin after private sector’s concerns. China’s aggregate financing was solid in May, buoyed by local government bond issuance. Mexico’s ruling party proposed to merge regulatory bodies for key industries. The Central Bank of Belarus took Belgazprombank into temporary administration. South Korean exports declined at a slower pace in May. Inflation declined to the lowest levels in more than 20 years in Brazil.