In contrast to last year's study, which was set at a time of more promising economic conditions, this year's research into Latin American private equity (PE) exits has a more challenging backdrop. The year saw GDP growth forecasts revised downward for many of the region's most significant economies, and uncertainty prevailed in the public markets following the US Federal Reserve's announcement of a tapering of quantitative easing. Meanwhile, in some countries, such as Brazil, stubbornly high inflation remained an issue.