2010

Emerging Markets: Africa

Roundup

By Antonio Guerrero

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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 and ...

Emerging Markets: Brazil

Roundup

By Antonio Guerrero

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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

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Sub-Saharan Africa has long been considered to be on the far ...

Newsmakers: Central Banker Under Fire

Argentina

By Antonio Guerrero

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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 strengthened ...

Cover Story: Credit Where It’s Due

Credit Where It’s Due


As governments around the world contemplate reeling in the financial lifelines that helped them prevent a global systemic meltdown, the prospects for credit growth in the coming decade are still unclear.

By Antonio Guerrero

While ...

Emerging Markets: Brazil

Roundup

By Antonio Guerrero

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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, according ...

Emerging Markets: Africa

Roundup

By Antonio Guerrero

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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 ...

Newsmakers: Crisis Takes Toll On Mexico’s Ratings

Mexico

By Antonio Guerrero

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Calderón: Reform agenda is in danger of stalling

Analysts had for months warned of an impending Mexico downgrade. When it finally came, it did so in the form of a one-two punch. In November Fitch cut ...

2009

Emerging Markets: Africa

Roundup

By Antonio Guerrero

EM_03

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 its Twangiza ...

Emerging Markets: Brazil

Roundup

By Antonio Guerrero

EM_06

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 been eliminated ...

Milestones: Panama Poised For Investment-Grade Status

Panama

By Antonio Guerrero

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Providing a lift: Canal expansion will boost Panama economy

Panama is poised to become Latin America’s newest investment-grade-rated country. Standard & Poor’s pushed Panama closer to the coveted rating in November when it raised the ...

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

OK_01 As the skies ...

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 ...

Features: Intellectual Values

INTELLECTUAL VALUES

Companies on the hunt for liquidity are unearthing hidden treasures in their intellectual property portfolios.

By Antonio Guerrero

Features_Intellectual-Values-01 As companies strive to make the best use of their assets, to focus on their core operations and to best ...

Newsmakers: Calderón Goes To War Against Inefficiency

Mexico


By Antonio Guerrero

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LFC workers protest against Calderón’s actions

When Mexican president Felipe Calderón decided in October that the staterun LFC electrical utility had sapped resources for too long, to the tune of $3 billion in annual federal ...

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 ...

Emerging Markets: Brazil

Roundup

By Antonio Guerrero

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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 ...

Newsmakers: Economic Gloom Deepens As Honduras Crisis Continues

Honduras

Antonio Guerrero

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Zelaya: Garnering
interna
tional supprt

After Honduran soldiers stormed leftist president Manuel Zelaya’s home in June and he fled into exile, many speculated the Central American nation’s economy was poised for growth. After all, Zelaya ...

Newsmakers: Potential Lula Successor Clears Legal Hurdle

Brazil

Antonio Guerrero

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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, a ...

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 the ...

Emerging Markets: Africa

Roundup

By Antonio Guerrero

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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 between Africa ...

Emerging Markets: India

Roundup

By Antonio Guerrero

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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 ...

Emerging Markets: Brazil

Roundup

By Antonio Guerrero

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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

Features_Spain_1 With Spain experiencing its deepest recession in 60 years, its banking sector stands at a ...

Emerging Markets: Africa

Roundup

By Antonio Guerrero

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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 of Zimbabwe Steel ...

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 ...

Emerging Markets: Brazil

Roundup

By Antonio Guerrero

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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%. The ...

Newsmakers: Kirchners Face Uncertain Future

ARGENTINA

By Antonio Guerrero


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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 couple ...

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 ...

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

09June_06_01 However ...

Regulars : Milestones : Latin American

Latin American markets are feeling the global financial pinch, and ratings agencies are taking notice, with downgrades soon to follow.

By Antonio Guerrero

09June_08_01 Standard & Poor’s downgraded El Salvador from BB+ to BB last month, and it seems Mexico is ...

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

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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

09June_12_02 A report from research firm ...

Emerging Markets : EM ROUNDUP Africa

Regular_EMRounds_5 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 ...

Emerging Markets : EM ROUNDUP Brazil

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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 ...

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

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World Bank president Robert
Zoellick calls on the developed
world to help poorer ...

Newsmakers : Mexico first to tap IMF credit line

Mexico becomes the first country to tap IMF credit line;and risk management remains undervalued by money managers.

Regular-newsmaker1.1 Concerned about a weakening peso and possible 2010 fiscal gap, Mexico has turned to Washington for assistance for the first time since ...

Emerging Markets : Africa

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Tsvangirai: Vowed to restore
relations with the IMF.

The African Development Bank has used its own capital base to create a $1.5 billion trade finance facility that aims to fuel trade and investment in the region. African commercial lenders ...

Emerging Markets : Brazil

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Brazil's air force is helping finance Embraer's $500 million development program for a new military transport plane.

Following Brazil’s recent credit boom, banks are starting to face increased customer arrears. A research report from BB Investimentos, a ...

Newsmakers : Uncle Sam's Southern Friend

Colombia

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Uribe: Washington’s
ally

Colombian president Alvaro Uribe, the conservative right-wing leader reelected in May, remains Washington’s closest ally in a region governed overwhelmingly by center-left administrations. Critics, however, assert that the 53- year-old attorney, educated at Oxford ...

Emerging Markets Roundup: Africa

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Tsvangirai: Vowed to restore relations with the IMF

The African Development Bank has used its own capital base to create a $1.5 billion trade finance facility that aims to fuel trade and investment in the region. African commercial lenders ...

Milestones : Banks And Multilaterals Step In To Boost Trade

BRAZIL

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Brazil’s central bank: Attempting to boost banks’ trade finance lines

With commodity prices plummeting from last year’s highs, Latin American governments are seeking ways to support their trade sectors as part of their economic stimulus plans. Strong ...

Newsmakers : Santander Loses Face In Latin America

LATIN AMERICA

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Sleepless in Madrid: Santander chairman Emilio Botin

Spanish banking giant Santander is struggling to contain the fallout from the more than $3 billion loss its clients sustained through the bank’s investments in funds linked to disgraced New ...

Emerging Markets : Brazil

emr4

Brazilian oil giant Petrobras will use debt issuance to finance new offshore exploration.

The Petrobras state-controlled oil company sold $1.5 billion of 10-year bonds on international markets in February. The deal, which carries a 7.875% coupon, was managed ...

Emerging Markets Roundup: Brazil

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Brazil's air force is helping finance Embraer's $500 million development program for a new military transport plane

Following Brazil’s recent credit boom, banks are starting to face increased customer arrears. A research report from BB Investimentos, a ...

Emerging Markets : Africa

emr1

Zimbabwe has abandoned its "worthless" currency in favor of other currencies such as the US dollar.

After years of trying to defend its near-worthless currency, the Zimbabwean government has abandoned foreign exchange and price controls. Zimbabweans will now be allowed ...

Cover Story : The Party's Over

LATIN AMERICA

Once considered relatively immune to the global economic slump, Latin America is facing hard times as commodity prices crumble, trade dwindles and Venezuela’s oil-funded regional largess begins to dry up.


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On a roller coaster ride: Wild swings ...