*

Rate decisions in Chile, Brazil, Colombia this week

*

Colombia's peso leads losses amid weak crude prices

*

Venezuela sovereign bonds down after contested election

result

(Updated at 3:38 p.m. ET/ 1938 GMT)

By Lisa Pauline Mattackal and Shashwat Chauhan

July 29 (Reuters) - Most Latin American currencies

slipped on Monday as investors remained cautious ahead of a

plethora of central bank decision this week, including the

Federal Reserve, while Venezuelan bonds fell after the results

of its presidential election were hotly contested.

Colombia's peso led losses in the region, down 1%

against the dollar as prices of crude oil, one of the country's

top exports, fell more than 1% after Israel officials said they

wanted to avoid dragging the Middle East into an all-out war.

Fellow oil producer Mexico's peso also dropped 0.9%,

extending losses to a fifth straight session and touching a

six-week low.

Chile's peso fell 0.4% ahead of a local central bank

decision this week, where analysts expect the central bank to

ease policy by 25 basis points.

Rate decisions from the central banks of Colombia and Brazil

are also due this week.

Brazil's real, bucked the trend to appreciate

0.5% against the dollar. The global economic uncertainties that

led Brazil's central bank to halt its monetary easing cycle have

persisted, preventing an interest rate cut this week, a Finance

Ministry official told Reuters.

Venezuela was in focus as both President Nicolas Maduro

and opposition rival Edmundo Gonzalez claimed victory in its

presidential election, with several countries both regionally

and internationally questioning the results.

"We think a debt restructuring led by the Maduro

administration remains a possibility, where the US position on

the elections and recognizable results will be key," strategists

at Citi wrote in a note.

The Biden administration said that electoral manipulation

had stripped the announcement of Venezuelan President Nicolas

Maduro's reelection victory of "any credibility," and Washington

left the door open to fresh sanctions on the OPEC nation.

Venezuela's sovereign bonds fell, with the 2038 maturity

down 1.75 cents, while state oil firm PDVSA's

2022 bond fell as much as 1.6 cents.

Trading was cautious ahead of a raft of central bank

decisions this week, with the Fed and Bank of Japan the most

closely watched.

The Fed is widely expected to keep rates on hold at its

meeting this week, with all focus on whether policymakers signal

they could start easing policy in September.

Emerging markets have struggled over the past year as

interest rates in economies such as the U.S. have dimmed the

relative appeal of higher yielding but riskier EM assets,

particularly in Latin America where policymakers across the

region have eased policy to stimulate economic growth.

Amongst equities, MSCI's index for the region

shed 0.5%, with Brazil's benchmark index

down 0.4%, while shares in Argentina fell close to 4%.

HIGHLIGHTS:

** Poll: Global economy's growing resilience at odds with

rate cut expectations

** Ratings agency Fitch upgrades Pakistan's credit rating

** EXCLUSIVE-Union at BHP's Escondida mine urges rejection

of contract offer, strike possible

** Ethiopia clinches deal with the IMF for $3.4 billion in

financing, IMF says

Key Latin American stock indexes and currencies:

Latest Daily % change

MSCI Emerging Markets 1077.62 0.5

MSCI LatAm 2186.97 -0.44

Brazil Bovespa 126940.75 -0.43

Mexico IPC 52626.04 -0.37

Chile IPSA 6451.54 0.29

Argentina MerVal 1481500.88 -3.925

Colombia COLCAP 1340.30 -0.4

Currencies Latest Daily % change

Brazil real 5.6286 0.52

Mexico peso 18.6150 -0.89

Chile peso 955.5 -0.42

Colombia peso 4059.5 -1.01

Argentina peso 931.5000 -0.21

(interbank)

Argentina peso 1395 2.87

(parallel)