2010

Rating Upgrade Vindicates Morales’s Policies

NEWSMAKERS: BOLIVIA   Rating Upgrade Vindicates Morales’s Policies   By Antonio Guerrero   Morales: High hopes for Bolivia’s econom y While many international investors have grown to distrust Bolivian president Evo Morales, a socialist who nationalized the hydrocarbons sector and telephone company, ...

Emerging Markets Roundup: Africa

Roundup   By Antonio Guerrero   South Africa’s central bank: Shareholders to get less control Nigeria has secured a $915 million concessionary loan from the World Bank to help the government fund infrastructure development projects. Funds will be drawn between ...

Emerging Markets: Brazil

Roundup   By Antonio Guerrero   Cotton on: End of trade battle gives hope in ethanol dispute The Brazilian government launched the second phase of its economic stimulus plan, this time involving an estimated $883 billion in infrastructure investments through ...

Emerging Markets: Africa

Roundup   By Antonio Guerrero   Digging deep: Companies mining in Zambia face high taxes The World Bank is asking members to support a controversial $3.75 billion loan to Eskom, South Africa's state-run power utility. The loan would be used ...

Latin America Takes a Right Turn

RIGHT TURN   A rash of recent elections in Latin America has produced a marked swing to the political right. The region's new leaders are trying to strike a delicate balance as they attempt to build on their leftist predecessors' ...

Emerging Markets: Africa

Roundup   By Antonio Guerrero   Nigerian central bank’s energy fund has caused controversy South Africa’s $2 billion dollar-denominated sovereign bond issue in March marked the country’s largest-ever foreign-currency-denominated security. The 10-year paper carries a 5.5% coupon, which is the ...

Emerging Markets: Brazil

Roundup   By Antonio Guerrero   Meirelles: Reining in Brazil’s stimulus measures Brazil’s central bank moved to tighten monetary policy by raising bank reserve requirements on term deposits from 13% to 15% as of April 9. The central bank had ...

Emerging Markets: Africa

Roundup   By Antonio Guerrero   Under threat: Wildlife in Uganda’s Kabwoya reserve African Union (AU) heads of state attending a February summit will review plans to create a $4 billion Libya-based African investment bank. South Africa, Nigeria, Libya, Algeria ...

Emerging Markets: Brazil

Roundup   By Antonio Guerrero   Nacional, part of Wal-Mart’s rapidly expanding Brazilian arm With Brazil’s strong economic recovery fueling consumer demand, local and international retailers are increasing their market presence. Retail sales are expected to grow by 12% in ...

Features: Regional Report: Southern Africa

In From The Cold   Global businesses and investors are taking more interest in sub-Saharan Africa, home to some of the world’s most neglected emerging markets.   By Antonio Guerrero   Sub-Saharan Africa has long been considered to be on ...

Newsmakers: Central Banker Under Fire

Argentina   By Antonio Guerrero   Redrado: Rejected presidential order to resign Argentina’s central bank presidents have long received low grades for their lack of independence. The situation has been exacerbated under Argentine president Cristina Fernández de Kirchner, who has ...

Emerging Markets: Brazil

Roundup   By Antonio Guerrero   Itaipu: Hydro plant blamed for near-nationwide blackout Banco do Brasil, controlled by the federal government, may seek up to $4.4 billion in primary and secondary share offerings during the first half of the year, ...

Emerging Markets: Africa

Roundup   By Antonio Guerrero   Game on: South Africa prepares for the 2010 World Cup This year’s FIFA Soccer World Cup in South Africa will inject nearly $7.5 billion into the nation’s economy, according to a study by the ...

2009

Emerging Markets: Africa

Roundup   By Antonio Guerrero   Panning for gold: African mines spark investor interest Rising gold prices have sparked renewed interest by foreign investors in African mines. Banro, a Canadian gold miner, expects to close a debt financing deal for ...

Emerging Markets: Brazil

Roundup   By Antonio Guerrero   Too strong: Authorities fret over appreciation of Brazilian real The Brazilian government took the controversial step of reintroducing a 2% financial transactions tax on purchases of stocks and bonds by foreign investors that had ...

Cover Story: Opportunity Knocks

  Emerging Markets Focus: Latin America   Much of Latin America is reaping the benefits of a rapid growth in China’s involvement in the region. Booming trade levels are changing some key global market dynamics.   By Antonio Guerrero   ...

Features: Intellectual Values

INTELLECTUAL VALUES   Companies on the hunt for liquidity are unearthing hidden treasures in their intellectual property portfolios.   By Antonio Guerrero   As companies strive to make the best use of their assets, to focus on their core operations ...

Emerging Markets: Brazil

Roundup   By Antonio Guerrero   Banco Santander Brasil, the local subsidiary of Spanish banking giant Banco Santander, in October raised more than $8 billion in Brazil’s largest-ever IPO and the world’s largest this year. Abu Dhabi’s state-controlled Aabar Investments ...

Emerging Markets: Africa

Roundup   —Antonio Guerrero   China is extending its access to Africa’s raw materials with a new deal in which it will provide some $7.2 billion in financing to the de-facto government in Guinea, the world’s largest bauxite producer and ...

Emerging Markets: Brazil

Roundup   By Antonio Guerrero   Banco Santander floats its Brazilian operations in IPO Banco Santander in September launched a much-awaited IPO of its Brazilian unit, in a deal expected to raise more than $5 billion—one of the world’s largest ...

Features : Central Banker Report Cards 2009

During one of the toughest years on record, the world’s central bankers were tested as never before.   Contributors: Gordon Platt, Antonio Guerrero, Anita Hawser and Dan Keeler   It is clear that 2009 is not a year on which ...

Newsmakers: Potential Lula Successor Clears Legal Hurdle

Brazil   Antonio Guerrero   Palocci: Stillfacing more corruption allegatio ns Former Brazilian finance minister Antonio Palocci has won a political victory after the country‘s Supreme Court dismissed charges that he violated bank secrecy laws. The ruling could put Palocci, ...

Emerging Markets: Africa

Roundup   By Antonio Guerrero   Trade between Africa and China is slowing Africa has emerged as one of the key casualties of the global economic slowdown, after newly released figures show its exports to China plummeted this year. Trade ...

Emerging Markets: India

Roundup   By Antonio Guerrero   Growth drive: India’s auto sector is thriving The US government has committed $2.45 billion for Indian borrowers through the US Export-Import Bank’s India Infrastructure Facility. Funds will be used for medium- and long-term dollar ...

Emerging Markets: Brazil

Roundup   By Antonio Guerrero   Brazil’s president, Lula da Silva, tours a Petrobras facility The US Export-Import Bank agreed to provide Brazil with some $10 billion in financing to develop the Petrobras state-controlled oil company’s offshore pre-salt oil reserves. ...

Features: Country Report-Spain

A TOUGH ROAD AHEAD   Spain’s banks and savings institutions are still reeling from the collapse of the country’s housing market.   By Antonio Guerrero   With Spain experiencing its deepest recession in 60 years, its banking sector stands at ...

Emerging Markets: Africa

  Roundup   By Antonio Guerrero   Ghana looks to diversify exports beyond cocoa After years of seeing foreign investors flee amid a plummeting economy and political upheaval, Zimbabwe may be about to reverse the outflow with its impending privatization ...

Emerging Markets: Africa

Roundup   By Antonio Guerrero   Botswana, the world's largest diamond producer, received a $1.5 billion loan from the African Development Bank, marking the bank's largest-ever budget support facility. It is also Botswana's first loan from the development bank in ...

Emerging Markets: Brazil

Roundup   By Antonio Guerrero   Mantega: Welcomes foreign investors to Brazil Taking advantage of falling yields, Brazilian borrowers are returning to international debt markets. BNDES, the state-owned development bank, sold $1 billion in 10-year bonds in June, yielding 6.546%. ...

Newsmakers: Kirchners Face Uncertain Future

ARGENTINA   By Antonio Guerrero   Kirchner: May have to rein in her populist agenda When Cristina Kirchner won Argentina's 2007 presidential election, she was taking over the office held since 2003 by her husband, Nestor Kirchner. Observers speculated the ...

Features: Profiting From Prudence

Despite a recent drop in profits amid the country's economic slowdown, Brazilian banks are poised for long-term growth. By Antonio Guerrero Amid a turbulent global market, Brazil's banking and financial sector is proving remarkably resilient. A stringent regulatory environment, strong ...

Regulars : Newsmakers : Panama

The election of a pro-business leader in Panama now makes president-elect Ricardo Martinelli a member of the somewhat lonely club of Latin American right-wing leaders, in which the only other member is Colombian president Alvaro Uribe.   By Antonio Guerrero ...

Regulars : EM Roundup Brazil

The latest news from Brazil. Just three years after acquiring Brazil’s Banco Pactual investment bank for some $2.5 billion, UBS is selling the bank back to its previous owners for roughly the same amount.   By Antonio Guerrero   The ...

Regulars : EM Roundup Africa

The International Finance Corporation (IFC) estimates less than a quarter of Africans have access to electricity, and those who do pay twice the average retail rate of users in other emerging regions.   By Antonio Guerrero   A report from ...

Emerging Markets : EM ROUNDUP Africa

South Africa’s Standard Bank, Africa’s largest lender by assets, has become the first international financial institution to join the IFC’s $5 billion global trade liquidity program. The program aims to extend loans to regional banks for on-lending to importers and ...

Emerging Markets : EM ROUNDUP Brazil

Citing Brazil’s prudent economic policies, Standard & Poor’s affirmed the country’s BBB- investment-grade rating with a stable outlook. In its rationale, S&P; said Brazil’s low investment-grade ratings are supported by the government’s ongoing commitment to prudent macroeconomic policies. S&P; expects ...

Features : Help Or Hindrance?

  HELP OR HINDRANCE?     Mounting concern over the economic prospects of the world’s poorest nations is encouraging developed nations to reassess their aid policies. By Antonio Guerrero   World Bank president Robert Zoellick calls on the developed world ...