![\"アングル：米国の対ベネズエラ介入、中南米投資に強気な見方\"\/](\"https:\/\/www.wacoca.com\/news\/wp-content\/uploads\/2026\/01\/DUE3A3Y27RMYTBHWRJFO2QS2EM.jpg\")
<\/p>\n<\/p>\n
\u5199\u771f\u306f\uff11\u6708\uff17\u65e5\u3001\u30ab\u30e9\u30ab\u30b9\u3067\u30de\u30c9\u30a5\u30ed\u5927\u7d71\u9818\u306e\u89e3\u653e\u3092\u8a34\u3048\u308b\u4eba\u3005\u3002REUTERS\/Gaby Oraa <\/p>\n
[\u30cb\u30e5\u30fc\u30e8\u30fc\u30af\uff0f\u30ed\u30f3\u30c9\u30f3 \uff18\u65e5 \u30ed\u30a4\u30bf\u30fc] – \u30c8\u30e9\u30f3\u30d7\u7c73\u5927\u7d71\u9818\u304c\u30d9\u30cd\u30ba\u30a8\u30e9\u3068\u30a2\u30eb\u30bc\u30f3\u30c1\u30f3\u306b\u5bfe\u3057\u3066\u53d6\u3063\u305f\u5f37\u786c\u306a\u63aa\u7f6e\u306f\u3001\u91cd\u8981\u306a\u9078\u6319\u30a4\u30e4\u30fc\u3092\u8fce\u3048\u308b\u4e2d\u5357\u7c73\u5168\u4f53\u3067\u53f3\u50be\u5316\u3092\u3055\u3089\u306b\u62bc\u3057\u9032\u3081\u3001\u6295\u8cc7\u5bb6\u304c\u5e02\u5834\u91cd\u8996\u306e\u6539\u9769\u304c\u9032\u3080\u3068\u671f\u5f85\u3057\u3066\u6d77\u5916\u8cc7\u91d1\u304c\u4e2d\u5357\u7c73\u5730\u57df\u306b\u6d41\u5165\u3057\u3084\u3059\u304f\u306a\u308a\u305d\u3046\u3060\u3002<\/p>\n
\u7c73\u56fd\u304c\u9031\u672b\u306b\u30de\u30c9\u30a5\u30fc\u30ed\u5927\u7d71\u9818\u3092\u6392\u9664\u3057\u3001\u30c7\u30d5\u30a9\u30eb\u30c8\u72b6\u614b\u3060\u3063\u305f\u30d9\u30cd\u30ba\u30a8\u30e9\u56fd\u50b5\u306f\u6025\u9a30\u3057\u305f\u3002\u4e00\u65b9\u3067\u30c8\u30e9\u30f3\u30d7\u6c0f\u304c\u6628\u5e74\u3001\u30a4\u30c7\u30aa\u30ed\u30ae\u30fc\u7684\u306b\u8fd1\u3044\u540c\u76df\u8005\u306e\u30a2\u30eb\u30bc\u30f3\u30c1\u30f3\u306e\u30df\u30ec\u30a4\u5927\u7d71\u9818\u3092\u652f\u63f4\u3059\u308b\u305f\u3081\u3001\u6700\u5927\uff14\uff10\uff10\u5104\u30c9\u30eb\u306e\u91d1\u878d\u652f\u63f4\u67a0\u3092\u63d0\u4f9b\u3059\u308b\u3068\u3044\u3046\u8ced\u3051\u306b\u51fa\u3066\u3001\u30df\u30ec\u30a4\u6c0f\u306e\u653f\u515a\u304c\u30a2\u30eb\u30bc\u30f3\u30c1\u30f3\u306e\u4e2d\u9593\u9078\u6319\u3067\u597d\u6210\u7e3e\u3092\u53ce\u3081\u305f\u3002<\/p>\n
\u5225\u306e\u6642\u4ee3\u3067\u3042\u308c\u3070\u3001\u30c8\u30e9\u30f3\u30d7\u6c0f\u306e\u3053\u3046\u3057\u305f\u4ecb\u5165\u306f\u5916\u56fd\u306e\u9732\u9aa8\u306a\u5185\u653f\u5e72\u6e09\u3060\u3068\u3057\u3066\u3088\u308a\u5927\u304d\u306a\u53cd\u767a\u3092\u62db\u3044\u305f\u304b\u3082\u3057\u308c\u306a\u3044\u3002\u3057\u304b\u3057\u4e2d\u5357\u7c73\u306f\u5168\u3066\u306e\u56fd\u304c\u6b53\u8fce\u3057\u3066\u3044\u308b\u308f\u3051\u3067\u306a\u3044\u304c\u3001\u653f\u6cbb\u5168\u4f53\u304c\u53f3\u65b9\u5411\u3078\u30b7\u30d5\u30c8\u3059\u308b\u6642\u4ee3\u306b\u3042\u3063\u3066\u53cd\u5fdc\u306f\u6bd4\u8f03\u7684\u843d\u3061\u7740\u3044\u3066\u304a\u308a\u3001\u6295\u8cc7\u5bb6\u306b\u3088\u308b\u3068\u3001\u5e02\u5834\u306b\u3068\u3063\u3066\u597d\u307e\u3057\u3044\u5909\u5316\u306b\u5bfe\u3059\u308b\u671f\u5f85\u304c\u4e2d\u5357\u7c73\u5730\u57df\u306e\u91d1\u878d\u8cc7\u7523\u3092\u62bc\u3057\u4e0a\u3052\u308b\u3068\u3044\u3046\u3002<\/p>\n
\u300c\u4e2d\u5357\u7c73\u306f\u6b74\u53f2\u7684\u306b\u7269\u4e8b\u304c\u6ce2\u306e\u3088\u3046\u306b\u30c8\u30ec\u30f3\u30c9\u3068\u3057\u3066\u4e00\u4f53\u3067\u52d5\u304f\u50be\u5411\u304c\u3042\u308b\u300d\u3068\u30b0\u30e9\u30de\u30b7\u30fc\u306e\u6700\u9ad8\u6295\u8cc7\u8cac\u4efb\u8005\uff08\uff23\uff29\uff2f\uff09\u517c\u30de\u30cd\u30fc\u30b8\u30f3\u30b0\u30fb\u30d1\u30fc\u30c8\u30ca\u30fc\u3067\u3042\u308b\u30ed\u30d0\u30fc\u30c8\u30fb\u30b3\u30fc\u30cb\u30b0\u30b9\u30d0\u30fc\u30ac\u30fc\u6c0f\u306f\u8a9e\u3063\u305f\u3002\u300c\u73fe\u5728\u306e\u4e2d\u5357\u7c73\u306e\u6d41\u308c\u306f\u660e\u3089\u304b\u306b\u5de6\u304b\u3089\u53f3\u306b\u79fb\u884c\u3057\u3066\u3044\u308b\u300d<\/p>\n
\u3053\u3046\u3057\u305f\u8a8d\u8b58\u306e\u305f\u3081\u306b\u3001\u6295\u8cc7\u5bb6\u306f\u8ca1\u653f\u518d\u5efa\u3084\u898f\u5236\u6539\u9769\u304c\u4e2d\u5357\u7c73\u5168\u4f53\u3067\u9032\u3080\u3068\u306e\u898b\u65b9\u306b\u6ce8\u76ee\u3057\u3001\u6295\u8cc7\u898f\u6a21\u3092\u62e1\u5927\u3055\u305b\u308b\u3053\u3068\u306b\u5bfe\u3059\u308b\u5b89\u5fc3\u611f\u306b\u3064\u306a\u304c\u3063\u3066\u3044\u308b\u3068\u30b3\u30fc\u30cb\u30b0\u30b9\u30d0\u30fc\u30ac\u30fc\u6c0f\u306f\u8ff0\u3079\u305f\u3002<\/p>\n
![\"Latam](\"https:\/\/www.wacoca.com\/news\/wp-content\/uploads\/2026\/01\/chart_eikon.jpg\")
Latam stocks remain relatively cheap despite a strong rally in 2025<\/p>\n
\uff1c\u5730\u57df\u7684\u306a\u30b7\u30d5\u30c8\uff1e<\/p>\n
\u6295\u8cc7\u898f\u6a21\u3092\u62e1\u5927\u3059\u308b\u52d5\u304d\u306f\u653f\u6cbb\u7684\u306a\u5909\u5316\u304c\u56fd\u3054\u3068\u306b\u8d77\u3053\u308b\u3088\u308a\u3082\u76f8\u4e92\u306b\u5f37\u5316\u3057\u5408\u3046\u3088\u3046\u306a\u5f62\u3067\u3057\u3070\u3057\u3070\u8d77\u3053\u308a\u3001\u4e2d\u5357\u7c73\u304c\u5730\u57df\u3068\u3057\u3066\u4e00\u4f53\u7684\u306b\u52d5\u3044\u3066\u304d\u305f\u3068\u3044\u3046\u898b\u65b9\u3092\u53cd\u6620\u3057\u3066\u3044\u308b\u3002<\/p>\n
\u8fd1\u5e74\u306e\u30a8\u30af\u30a2\u30c9\u30eb\u3001\u30a2\u30eb\u30bc\u30f3\u30c1\u30f3\u3001\u30c1\u30ea\u306e\u9078\u6319\u52dd\u5229\u306f\u53f3\u6d3e\u653f\u515a\u3078\u306e\u79fb\u884c\u304c\u898b\u3089\u308c\u3001\u3053\u3046\u3057\u305f\u5730\u57df\u3067\u904e\u53bb\uff11\u5e74\u9593\u306e\u682a\u5f0f\u3001\u901a\u8ca8\u3001\u50b5\u5238\u306e\u4e0a\u6607\u3092\u652f\u3048\u308b\u8981\u56e0\u3068\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n
\u5e02\u5834\u306f\u307e\u305f\u3001\u30d6\u30e9\u30b8\u30eb\u3084\u30e1\u30ad\u30b7\u30b3\u306e\u3088\u3046\u306a\u5de6\u6d3e\u306e\u6307\u5c0e\u8005\u304c\u4e3b\u5c0e\u3059\u308b\u56fd\u3067\u3055\u3048\u3082\u3001\u6b63\u7d71\u6d3e\u306e\u91d1\u878d\u653f\u7b56\u3084\u8ca1\u653f\u898f\u5f8b\u3092\u91cd\u8996\u3059\u308b\u5168\u822c\u7684\u306a\u50be\u5411\u304b\u3089\u6069\u6075\u3092\u53d7\u3051\u3066\u3044\u308b\u3002<\/p>\n
\u30d6\u30e9\u30b8\u30eb\u30fb\u30ec\u30a2\u30eb\u3068\u30e1\u30ad\u30b7\u30b3\u30fb\u30da\u30bd\u306f\uff12\uff10\uff12\uff15\u5e74\u306b\u65b0\u8208\u56fd\u901a\u8ca8\u3068\u3057\u3066\u6700\u3082\u597d\u8abf\u306a\u904b\u7528\u6210\u7e3e\u3092\u793a\u3057\u305f\u901a\u8ca8\u306e\u4e00\u3064\u3068\u306a\u308a\u3001\u30b3\u30ed\u30f3\u30d3\u30a2\u3001\u30da\u30eb\u30fc\u3001\u30c1\u30ea\u306e\u682a\u5f0f\u5e02\u5834\u3082\u682a\u4fa1\u4e0a\u6607\u7387\u306e\u4e0a\u4f4d\u306b\u5165\u3063\u305f\u3002<\/p>\n
\uff32\uff22\uff23\u30d6\u30eb\u30fc\u30d9\u30a4\u306e\u65b0\u8208\u56fd\u5e02\u5834\u30b9\u30c8\u30e9\u30c6\u30b8\u30b9\u30c8\u306e\u30b0\u30e9\u30cf\u30e0\u30fb\u30b9\u30c8\u30c3\u30af\u6c0f\u306f\u30de\u30c9\u30a5\u30fc\u30ed\u5927\u7d71\u9818\u306e\u5931\u811a\u304c\u5e02\u5834\u304b\u3089\u597d\u610f\u7684\u306b\u53d7\u3051\u6b62\u3081\u3089\u308c\u3066\u3044\u308b\u3068\u8ff0\u3079\u305f\u3002<\/p>\n
\u300c\u3069\u3061\u3089\u304b\u3068\u8a00\u3048\u3070\u3001\u4e2d\u5357\u7c73\u304c\u3088\u308a\u5e02\u5834\u5fd7\u5411\u306e\u653f\u5e9c\u306b\u30b7\u30d5\u30c8\u3057\u3066\u3044\u304f\u3068\u3044\u3046\u671f\u5f85\u3092\u9ad8\u3081\u3066\u3044\u308b\u300d\u3068\u30b9\u30c8\u30c3\u30af\u6c0f\u306f\u8a9e\u3063\u305f\u3002<\/p>\n
\uff1c\u7126\u70b9\u306e\u9078\u6319\uff1e<\/p>\n
\u4e2d\u5357\u7c73\u304c\u6628\u5e74\u3001\u591a\u304f\u306e\u65b0\u8208\u56fd\u5e02\u5834\u3088\u308a\u3082\u904b\u7528\u6210\u7e3e\u304c\u512a\u308c\u305f\u7d50\u679c\u3092\u3082\u305f\u3089\u3057\u305f\u5f8c\u3067\u3001\u6295\u8cc7\u5bb6\u306f\uff12\uff16\u5e74\u306b\u30b3\u30ed\u30f3\u30d3\u30a2\u3001\u30da\u30eb\u30fc\u3001\u305d\u3057\u3066\u5e74\u5f8c\u534a\u306b\u30d6\u30e9\u30b8\u30eb\u3068\u3044\u3063\u305f\u6df7\u307f\u5408\u3063\u305f\u9078\u6319\u65e5\u7a0b\u3092\u6ce8\u8996\u3057\u3066\u3044\u308b\u3002<\/p>\n
\u30d9\u30ea\u30b9\u30af\u30fb\u30e1\u30fc\u30d7\u30eb\u30af\u30ed\u30d5\u30c8\u3067\u30bd\u30d6\u30ea\u30f3\u5206\u6790\u8cac\u4efb\u8005\u3092\u52d9\u3081\u308b\u30a2\u30a4\u30ea\u30fc\u30f3\u30fb\u30ae\u30e3\u30d3\u30f3\u6c0f\u306f\u3001\u30b3\u30ed\u30f3\u30d3\u30a2\u304c\uff13\u6708\u306b\u8b70\u4f1a\u9078\u3001\uff15\u6708\u306b\u5927\u7d71\u9818\u9078\u3092\u63a7\u3048\u3066\u304a\u308a\u3001\u96a3\u56fd\u30d9\u30cd\u30ba\u30a8\u30e9\u306e\u6df7\u4e71\u306b\u3088\u308b\u5f71\u97ff\u3092\u7279\u306b\u53d7\u3051\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3068\u6307\u6458\u3057\u305f\u3002<\/p>\n
\u30b3\u30ed\u30f3\u30d3\u30a2\u306e\u5de6\u6d3e\u306e\u30da\u30c8\u30ed\u5927\u7d71\u9818\u306f\u30c8\u30e9\u30f3\u30d7\u6c0f\u3068\u5bfe\u7acb\u3057\u6628\u5e74\uff11\uff10\u6708\u306b\u7c73\u56fd\u306e\u5236\u88c1\u3092\u53d7\u3051\u305f\u304c\u3001\u518d\u9078\u306b\u5411\u3051\u3066\u51fa\u99ac\u3059\u308b\u3053\u3068\u306f\u3067\u304d\u306a\u3044\u3002<\/p>\n
\u300c\u9078\u6319\u306b\u5bfe\u3059\u308b\u5727\u529b\u306f\u53f3\u50be\u5316\u306e\u65b9\u5411\u306b\u50cd\u304d\u3001\u50b5\u5238\u4fdd\u6709\u8005\u306b\u3068\u3063\u3066\u4e0a\u632f\u308c\u30ea\u30b9\u30af\u3068\u306a\u308b\u300d\u3068\u30ae\u30e3\u30d3\u30f3\u6c0f\u306f\u8a9e\u308a\u3001\u30d9\u30cd\u30ba\u30a8\u30e9\u306e\u653f\u60c5\u4e0d\u5b89\u5b9a\u306f\u79fb\u6c11\u3084\u8cbf\u6613\u306e\u6d41\u308c\u306e\u5909\u5316\u3092\u901a\u3058\u3066\u30da\u30eb\u30fc\u3001\u30d1\u30ca\u30de\u3001\u30ad\u30e5\u30fc\u30d0\u306b\u3082\u5f71\u97ff\u3059\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3060\u308d\u3046\u3068\u4ed8\u3051\u52a0\u3048\u305f\u3002<\/p>\n
\uff14\u6708\uff11\uff12\u65e5\u306b\u5b9f\u65bd\u3055\u308c\u308b\u30da\u30eb\u30fc\u306e\u5927\u7d71\u9818\u9078\u6319\u306f\u5c11\u306a\u304f\u3068\u3082\uff13\uff14\u4eba\u306e\u5019\u88dc\u8005\u304c\u767b\u9332\u3057\u3066\u304a\u308a\u3001\u6628\u5e74\u672b\u306e\u4e16\u8ad6\u8abf\u67fb\u306b\u3088\u308b\u3068\u6709\u6a29\u8005\u306e\u307b\u307c\u534a\u6570\u304c\u652f\u6301\u5019\u88dc\u3092\u6c7a\u3081\u3066\u3044\u306a\u3044\u3068\u3055\u308c\u7d50\u679c\u306f\u4e88\u65ad\u3092\u8a31\u3055\u306a\u3044\u3002<\/p>\n
\u4e00\u65b9\u3001\u30d6\u30e9\u30b8\u30eb\u306f\uff11\uff10\u6708\u306e\u9078\u6319\u306b\u5411\u3051\u3066\u3001\u30eb\u30e9\u5927\u7d71\u9818\u304c\uff14\u671f\u76ee\u3092\u76ee\u6307\u3057\u3066\u304a\u308a\u3001\u591a\u304f\u306e\u4e16\u8ad6\u8abf\u67fb\u3067\u73fe\u5728\u9996\u4f4d\u306b\u7acb\u3063\u3066\u3044\u308b\u3002<\/p>\n
\u8ab0\u304c\u52dd\u5229\u3059\u308b\u306b\u3057\u3066\u3082\u3001\uff12\uff19\u5e74\uff11\u6708\u307e\u3067\u4efb\u671f\u304c\u6b8b\u3063\u3066\u3044\u308b\u30c8\u30e9\u30f3\u30d7\u6c0f\u3068\u95a2\u4fc2\u3092\u69cb\u7bc9\u3059\u308b\u5fc5\u8981\u304c\u3042\u308b\u3002<\/p>\n
\uff22\uff23\uff21\u30ea\u30b5\u30fc\u30c1\u306e\u30c1\u30fc\u30d5\u30b9\u30c8\u30e9\u30c6\u30b8\u30b9\u30c8\u306e\u30de\u30eb\u30b3\u30fb\u30d1\u30d4\u30c3\u30c1\u6c0f\u306f\u300c\u7c73\u56fd\u304c\u3053\u3046\u3057\u305f\u56fd\u3005\u306b\u5727\u529b\u3092\u304b\u3051\u308c\u3070\u304b\u3051\u308b\u307b\u3069\u3001\u5f7c\u3089\u306f\u7c73\u56fd\u306e\u610f\u5411\u306b\u5f93\u3044\u3084\u3059\u304f\u306a\u308b\u3060\u308d\u3046\u3002\u305d\u306e\u7d50\u679c\u3001\u4e2d\u5357\u7c73\u306e\u5834\u5408\u306f\u3053\u308c\u307e\u3067\u3088\u308a\u3082\u5e02\u5834\u5bc4\u308a\u306e\u653f\u7b56\u304c\u9032\u3080\u3053\u3068\u306b\u306a\u308b\u300d\u3068\u8ff0\u3079\u305f\u3002<\/p>\n
\u30b7\u30c6\u30a3\u30b0\u30eb\u30fc\u30d7\u306f\u30c8\u30e9\u30f3\u30d7\u6c0f\u306e\u30d9\u30cd\u30ba\u30a8\u30e9\u4f5c\u6226\u306b\u5bfe\u3059\u308b\u5426\u5b9a\u7684\u306a\u53cd\u5fdc\u304c\u9650\u5b9a\u7684\u3060\u3063\u305f\u3068\u6307\u6458\u3057\u305f\u3002<\/p>\n
\u300c\u3053\u306e\u884c\u52d5\u304c\u77ed\u671f\u7684\u306b\u300e\u4e2d\u5357\u7c73\u306e\u65d7\u300f\u306e\u4e0b\u3067\u7d50\u675f\u3059\u308b\u3068\u3044\u3046\u53cd\u767a\u3092\u751f\u3093\u3067\u304a\u3089\u305a\u3001\u3053\u306e\u52d5\u304d\u3092\u6b53\u8fce\u3057\u3066\u3044\u308b\u58f0\u304c\u591a\u3044\u300d\u3068\u3001\u30b7\u30c6\u30a3\u306e\u30c9\u30ca\u30fc\u30c8\u30fb\u30b0\u30a2\u30ea\u30fc\u30ce\u6c0f\u306f\u30e1\u30e2\u66f8\u304d\u3067\u8ff0\u3079\u3001\u30d9\u30cd\u30ba\u30a8\u30e9\u95a2\u9023\u306e\u50b5\u5238\u306b\u5f15\u304d\u7d9a\u304d\u5f37\u6c17\u3060\u3068\u4ed8\u3051\u52a0\u3048\u305f\u3002<\/p>\n
\uff1c\u8cc7\u6e90\u63a1\u6398\u4f01\u696d\u306b\u6069\u6075\uff1e<\/p>\n
\u4e00\u90e8\u306e\u5de6\u6d3e\u306e\u5927\u7d71\u9818\u3067\u3055\u3048\u3082\u5b9f\u969b\u3001\u30c8\u30e9\u30f3\u30d7\u6c0f\u306b\u914d\u616e\u3057\u3066\u53d6\u5f15\u3084\u8b72\u6b69\u3092\u6a21\u7d22\u3057\u3066\u3044\u308b\u3002\u30b3\u30ed\u30f3\u30d3\u30a2\u653f\u5e9c\u306f\u3053\u3053\u6570\u65e5\u3001\u9ebb\u85ac\u5bc6\u8f38\u5bfe\u7b56\u3067\u7c73\u653f\u5e9c\u3068\u5354\u529b\u3059\u308b\u3068\u5f37\u8abf\u3057\u3066\u3044\u308b\u3002<\/p>\n
\u300c\u5de6\u6d3e\u306e\u6307\u5c0e\u8005\u305f\u3061\u306f\u305f\u3076\u3093\u5e38\u306b\u80cc\u5f8c\u3092\u6c17\u306b\u3057\u3066\u3044\u308b\u300d\u3068\u30a2\u30cd\u30c3\u30af\u30b9\u30fb\u30a6\u30a7\u30eb\u30b9\u30fb\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u306e\u30c1\u30fc\u30d5\u30fb\u30a8\u30b3\u30ce\u30df\u30c3\u30af\u30fb\u30b9\u30c8\u30e9\u30c6\u30b8\u30b9\u30c8\u306e\u30d6\u30e9\u30a4\u30a2\u30f3\u30fb\u30b8\u30a7\u30a4\u30b3\u30d6\u30bb\u30f3\u6c0f\u306f\u8a9e\u3063\u305f\u3002<\/p>\n
\u4e2d\u5357\u7c73\u306e\u5404\u56fd\u653f\u5e9c\u304c\u7c73\u56fd\u306e\u6226\u7565\u7684\u306a\u512a\u5148\u8ab2\u984c\u306b\u9069\u5408\u3057\u305f\u6295\u8cc7\u3092\u547c\u3073\u8fbc\u3082\u3046\u3068\u3057\u3001\u30a4\u30f3\u30d5\u30e9\u958b\u767a\u3084\u8cc7\u6e90\u63a1\u6398\u306b\u95a2\u308f\u308b\u591a\u56fd\u7c4d\u4f01\u696d\u304c\u4e3b\u306b\u6069\u6075\u3092\u53d7\u3051\u308b\u53ef\u80fd\u6027\u304c\u9ad8\u3044\u3060\u308d\u3046\u3068\u30b8\u30a7\u30a4\u30b3\u30d6\u30bb\u30f3\u6c0f\u306f\u6307\u6458\u3057\u305f\u3002<\/p>\n
\uff22\uff23\uff21\u306e\u30d1\u30d4\u30c3\u30c1\u6c0f\u306f\u300c\u4e2d\u5357\u7c73\u306e\u6c11\u9593\u90e8\u9580\u306f\u8ca0\u50b5\u306e\u5727\u7e2e\u3092\u9032\u3081\u3066\u304a\u308a\u3001\u91d1\u878d\u6a5f\u95a2\u3082\u6069\u6075\u3092\u53d7\u3051\u308b\u4f59\u5730\u304c\u3042\u308b\u300d\u3068\u8ff0\u3079\u305f\u3002\u307e\u305f\u3001\u7dcf\u3058\u3066\u4e2d\u5357\u7c73\u306e\u91d1\u878d\u8cc7\u7523\u306b\u5bfe\u3057\u3066\u5efa\u8a2d\u7684\u306a\u898b\u65b9\u3092\u793a\u3057\u306a\u304c\u3089\u3082\u300c\u7c73\u56fd\u304c\u529b\u305a\u304f\u306e\u624b\u6cd5\u3060\u3051\u306b\u983c\u308b\u306e\u306f\u8aa4\u308a\u300d\u3068\u6307\u6458\u3002\u4e3b\u6a29\u610f\u8b58\u306b\u6839\u3056\u3057\u305f\u53cd\u767a\u3092\u62db\u304f\u53ef\u80fd\u6027\u304c\u307e\u3060\u3042\u308b\u3068\u6307\u6458\u3057\u300c\uff08\u30c8\u30e9\u30f3\u30d7\uff09\u653f\u6a29\u304c\u3069\u3053\u304b\u4e2d\u9593\u7684\u306a\u7740\u5730\u70b9\u3092\u898b\u3044\u3060\u305b\u308b\u3088\u3046\u306b\u9858\u3063\u3066\u3044\u308b\u300d\u3068\u8a9e\u3063\u305f\u3002<\/p>\n
\u79c1\u305f\u3061\u306e\u884c\u52d5\u898f\u7bc4\uff1a\u30c8\u30e0\u30bd\u30f3\u30fb\u30ed\u30a4\u30bf\u30fc\u300c\u4fe1\u983c\u306e\u539f\u5247\u300d, opens new tab<\/p>\n
![\"Rodrigo](\"https:\/\/www.wacoca.com\/news\/wp-content\/uploads\/2026\/01\/https:\/\/author-service-images-prod-us-east-1.publishing.aws.arc.pub\/reuters\/bafe4eb6-3aaf-466c-ace5-.jpeg\")
<\/p>\n
Rodrigo Campos covers economic and financial news from Emerging Markets across the globe. Based in New York, he covered the U.S. stock market during the Global Financial Crisis and its aftermath and rose to be deputy Wall Street editor before turning to EMs. Born and raised in Bogota, Rodrigo began his career on the National desk at Colombian daily El Tiempo.<\/p>\n
![\"Libby](\"https:\/\/www.wacoca.com\/news\/wp-content\/uploads\/2026\/01\/https:\/\/s3.amazonaws.com\/arc-authors\/reuters\/51d96782-4b73-4e73-8ab2-339b4b68b4f7.png\")
<\/p>\n
Libby George is a London-based journalist on the Reuters emerging markets team. She was part of a team named as Pulitzer finalists in 2023, and who won the Selden Ring Award for International Investigative Reporting, for a series of stories revealing abuses by Nigeria\u2019s military. After launching her career as a political journalist in Washington, D.C., she joined Reuters in 2015 covering oil, and from 2019-2023, she was senior correspondent and acting bureau chief based in Lagos, Nigeria. <\/p>\n","protected":false},"excerpt":{"rendered":"
\u5199\u771f\u306f\uff11\u6708\uff17\u65e5\u3001\u30ab\u30e9\u30ab\u30b9\u3067\u30de\u30c9\u30a5\u30ed\u5927\u7d71\u9818\u306e\u89e3\u653e\u3092\u8a34\u3048\u308b\u4eba\u3005\u3002REUTERS\/Gaby Oraa [\u30cb\u30e5\u30fc\u30e8\u30fc\u30af\uff0f\u30ed\u30f3\u30c9\u30f3 \uff18\u65e5 \u30ed\u30a4\u30bf\u30fc] – \u30c8\u30e9\u30f3\u30d7\u7c73\u5927\u7d71\u9818\u304c\u30d9\u30cd\u30ba\u30a8\u30e9\u3068\u30a2\u30eb\u30bc\u30f3\u30c1\u30f3\u306b\u5bfe\u3057\u3066\u53d6\u3063\u305f\u5f37\u786c\u306a\u63aa<\/p>\n","protected":false},"author":2,"featured_media":2741820,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[674789],"tags":[762691,762764,762760,35966,762767,467949,7585,312793,762772,766116,285050,762700,77593,135664,763978,762916,765957,762684,762685,763055,271330,763032,762697,762688,64819,238274,764395,762690,762679,705736,784990,89874,30355,767375,319333,70245,72702],"class_list":{"0":"post-2741819","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-united-states","8":"tag-amers","9":"tag-anlins","10":"tag-anv","11":"tag-ar","12":"tag-bojj","13":"tag-br","14":"tag-cl","15":"tag-co","16":"tag-dbt","17":"tag-destnojpztm","18":"tag-dip","19":"tag-emrg","20":"tag-fes","21":"tag-gen","22":"tag-gfin","23":"tag-gvd","24":"tag-hyd","25":"tag-jfor","26":"tag-jln","27":"tag-latam","28":"tag-min","29":"tag-mtgfx","30":"tag-namer","31":"tag-news1","32":"tag-pe","33":"tag-pol","34":"tag-samer","35":"tag-topcmb","36":"tag-topnws","37":"tag-trn","38":"tag-united-states-of-america","39":"tag-us","40":"tag-usa","41":"tag-ve","42":"tag-vote","43":"tag-70245","44":"tag-72702"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/posts\/2741819","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/comments?post=2741819"}],"version-history":[{"count":0,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/posts\/2741819\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/media\/2741820"}],"wp:attachment":[{"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/media?parent=2741819"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/categories?post=2741819"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wacoca.com\/news\/wp-json\/wp\/v2\/tags?post=2741819"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}