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���������ֳ�’ asset performance is expected to be neutral for most sectors in Latin American structured finance (SF) during 2024, as inflation recedes and interest rates return to single digits. However, any macroeconomic improvement is expected to be moderate, coupled with lingering global uncertainties. We still expect asset deterioration in unsecured consumer loans and credit cards, whose portfolio is more vulnerable and sensitive to macroeconomic conditions. Deterioration is also expected for trade receivables, as we forecast low GDP growth and high exposure to international markets.