2008

Emerging Markets : Net Benfits

Brazil             President Lula: Basking in Brazil's new net creditor status.   After holding its ranking as the world’s largest emerging markets debtor for several decades, Brazil in January became a net foreign creditor for ...

Features: Growth interrupted

COUNTRY REPORT: SOUTH AFRICA   Flagging global growth, an ongoing energy shortage and increasing wage and inflation pressures are weighing heavily on South Africa’s economy.   In a hole: South Africa's mining industry has been badly affected by recent power ...

Cover Story : Continental Shift

LATIN AMERICA REGIONAL REPORT Latin American governments’ attempts to gain more control over their countries’ economic fortunes are having far-reaching effects on international corporations doing business in the region.       Left in charge: Brazilian president Lula da Silva ...

Cover Story : Mexico

MEXICO Mexico’s recent economic progress could be derailed by turmoil in the US economy and the outcome of the US presidential election.     High aspirations: Mexico is hoping its economy can resist a US downturn.     The last ...

Milestones : Lima Launches Rmbs Market

Peru     Lessons learned? Investors will be looking closely at the assets behind Peru’s mortgage-backed securities. While most global markets are seeking to shield themselves from shockwaves emanating from the US subprime home loan and residential mortgage-backed securities (RMBS) ...

Features : Power Play

COUNTRY REPORT / RUSSIA Having hand picked his successor as Russian president, Vladimir Putin has assured the country there will be a smooth transition of power. How much power he will retain remains in question.   Oil has filled Russia's ...

Emerging Markets : Mind The Gap

Brazil       Mantega: Hiking other taxes will make up for shortfall.       With Brazilian legislators scrapping the country’s financial transactions tax (CPMF) in December, the government says it must now plug a 40 billion real ($22 ...

Features : Country Report: Iceland

EXPANDING HORIZONS ICELAND Iceland is going all out to expand its economy—and the global reach of its banks and corporations.     With a wealthy consumer base that has the sixth-highest per capita GDP in the OECD, 0.8% unemployment, negligible ...

2007

Features : Star Of The South

COUNTRY REPORT / BRAZIL Brazil’s commitment to developing biofuels is paying off handsomely. Investment is flooding in to other areas of the economy, too.   José Sergio Gabrielli, CEO of Petrobras For the administration of Brazilian president Luiz Inácio Lula ...

Features : Growth Pains

COUNTRY REPORT / CHINA China’s continuing economic expansion may be a bumpy ride, but the country’s prospects still look remarkably good.     Reach for the skies: China’s newfound wealth is reflected in its grand plans for Shanghai and beyond, ...

Features : Growth Pains

COUNTRY REPORT / CHINA     China’s continuing economic expansion may be a bumpy ride, but the country’s prospects still look remarkably good.   Reach for the skies: China’s newfound wealth is reflected in its grand plans for Shanghai and ...

Features : World’s Best Banks

ANNUAL SURVEY / WORLD’S BEST BANKS At a time when the world economic outlook is more uncertain than it has been in years, the banking industry finds itself at the vortex of a financial market storm that originated in subprime ...

Features : Central Banker Report Cards 2007

ANNUAL SURVEY / CENTRAL BANKER REPORT CARDS Individually, many of the world’s leading central bankers seemed to be in disarray after the subprime debacle began to unfold in mid-2007. As a group, though, they acted with remarkably unity. The central ...

Newsmakers : The unsinkable mrs. K

Argentina       Double act: Nestor Kirchner and the presidential hopeful, Mrs. K. Argentine First Lady and senator Cristina Fernández de Kirchner is poised to replace her husband, President Nestor Kirchner, in the top post in the October 28 ...

Cover Story : A Changing Agenda

Latin America     There is no longer any doubt that Venezuelan president Hugo Chávez’s “Bolivarian Revolution” is having a significant economic and political impact on Latin America. The question now is, Will it last? It’s 11 o’clock in the ...

Cover Story : A Bumpy Ride

EM SPOTLIGHT - LATIN AMERICA Argentina's president Nestor Kirchner faced off against some of the worlds most powerful investors Latin America has spent the past two decades recovering from the “lost decade” of the 1980s, marked by debt defaults, hyperinflation, ...

Emerging Markets : Sharp Growth In M&A Activity

BRAZIL Gol: Varig offer takes off at last Brazil’s IBGE national statistics institute reformulated its methodology for calculating the nation’s GDP in March, prompting a revision of all GDP data going back to 1996. Under the new formula, which uses ...

Newsmakers : Chávez Banks On Regional Support

LATIN AMERICA Chávez: Extending credit to other Latin American nations Venezuelan president Hugo Chávez’s dream of creating a South American development bank may be coming true. His finance minister, Rodrigo Cabezas, speaking at the annual meeting of the Inter-American Development ...

Emerging Markets : Brazil’s Ethanol Wave Fueled By Higher Oil Prices

BRAZIL New fields: Increasing demand for biofuels is fueling investment in Brazil's ethanol sector. Higher oil prices continue to boost demand for biofuels, making Brazil’s ethanol sector a prime investment target. While annual global ethanol exports total some 6.5 billion ...

Newsmakers : In The Hot Seat

COLOMBIA Zuluaga: Colombia will have to live with a strong currency Oscar Iván Zuluaga, who took over as Colombia’s new finance minister in March, faces important challenges ahead. Among these will be the need to guide the nation’s economy into ...

Emerging Markets : Lula Unveils Growth Plan

BRAZIL Brazils central bank is putting the brakes on interest rate cuts Having vowed to make economic growth the focus of his second term, Brazilian president Luiz Inácio Lula da Silva unveiled a long-awaited plan to boost the nation’s economy. ...

Features : The Tortilla Factor

Mexico’s newly installed president faces a tough first year in office as he struggles to reconcile his promises with fiscal reality. Corn tortillas are a basic staple in Mexicans’ diet. But for the administration of the country’s new president, Felipe ...

Milestones : Uncertainty Surrounds Impact Of Second Chávez Term

Venezuela Chávez:Re-election mandate for nationalization Encouraged by a strong mandate in the December presidential elections and a booming oil sector windfall that boosted GDP by 10.3% in 2006, Venezuela’s president Hugo Chávez began a new six-year term in January by ...

Emerging Markets : Bond Bonanza

BRAZIL Henrique de Campos Meirelles The Brazilian government continues to take advantage of favorable market conditions to issue real-denominated paper. The sovereign again reopened its real-denominated global bond issue in early December, selling an additional $346 million worth of the ...

2006

Newsmakers : El Comandante’s Comeback

Nicaragua Daniel Ortega then … Former Nicaraguan guerrilla leader Daniel Ortega, one of the most outspoken foes of the US during his first administration in the 1980s, will be sworn in as president in January after a November 5 election ...

Emerging Markets : Lula Faces Challenging Second Term

Brazil A jubilant President Lula As Brazilian president Luiz In醕io Lula da Silva begins his second term in office on January 1, following an October 29 run-off victory, analysts are speculating about what the focus of his new administration will ...

Emerging Markets : Robust Economy Fuels Bond Blitz

BRAZIL The Brazilian government continued to tap global markets, despite questions regarding the outcome of the nation's presidential elections, as investor appetite remained high. The sovereign tapped international markets on October 5, even before the second-round vote, with an additional ...

Newsmakers : New President Finds Early Days Are Hard

MEXICO President-elect Filipe Calderón When Mexico’s Electoral Tribunal in September declared Felipe Calderón the official winner of the nation’s hotly contested presidential election, it appeared that it would be smooth sailing until his December 1 inauguration. Instead, it seems Calderón’s ...

EM Roundup : Surplus Peaks As Trade Boom Continues

BRAZIL Guido Mantega: Firm on growth forecast Brazil’s trade sector continues to boom despite concerns over an appreciating currency that could make Brazilian products less competitive. Much of the rise has been driven by strong demand for commodities, whose prices ...

Emerging Markets : Lula Surfs Wave Of Economic Progress

Brazil Lula: Frontrunner in election race Brazil’s central bank slashed its Selic benchmark interest rate in July to 14.75%, the lowest level since 1986. The cut, the bank’s ninth reduction since last September when the Selic stood at a record-high ...

Emerging Markets : Trade Slows As Currency Rises

Brazil Petrobras: Investing heavily The rapid appreciation of the Brazilian real against the dollar since last year is sparking concerns in Brasilia, as the situation has already prompted a slowdown in the nation’s oncethriving export sector. May exports hit a ...

Newsmakers : Dark Horse Becomes New Frontrunner

Mexico Dark horse:Felipe Calderón Just a year ago, former Mexico City mayor Andrés Manuel López Obrador of the Jopposition PRD party, and a center-left populist, held a firm lead in Mexico’s presidential race. Recent polls, however, show ruling PAN party ...