Chile and Peru ranked best countries in Latin America for conducting business, World Bank

ibtimes.com reported Chile is the best country in Latin America to do business. The South American powerhouse was the highest-scoring country of the region, clocking in at 34 out of 189 nations surveyed.

The second-largest economy in the region, Mexico, was rated number 53, two positions lower than last year. Mexico was praised for its reformist trend, but experts from the World Bank noted that many of the reforms still have to be approved.

On the other side of the scale, the worst countries in the region were Venezuela (181), Bolivia (162) and Ecuador (135). The largest economy in the region, Brazil, was ranked at 116, penalized mostly for its high tariffs on imports. Read Article