Milestones : Buenos Aires Opens Global Swap


Buenos Aires: Offers default swap

Nearly four years after its default, the Argentine province of Buenos Aires opened a global debt swap in November that analysts predict will prompt bondholders to tender as much as 85% of defaulted debt ...

Newsmakers : Colombia’s Uribe Goes for Second Round



Alvaro Uribe

Colombian president Alvaro Uribe, 53, scored a victory in November when the nation’s Constitutional Court overturned a 1991 ban on reelection for sitting presidents. The move hands Uribe, whose approval rating hovers near 80%, a virtual ...

Emerging Markets : Insurance Industry to Open Up


The Indian government is considering raising the equity foreign holding limit in insurance companies to 49% from the current level of 26%. Several global insurers, including AIG, New York Life, Sun Life Financial, Allianz, Old Mutual, Chubb and Standard ...

Newsmakers : Fujimori: Back on Campaign Trail?



Alberto Fujimori

Former Peruvian president Alberto Fujimori, in exile in Japan since 2000, has vowed to seek re-election in next year’s presidential race, despite a constitutional ban that precludes him from seeking public office before 2010.

Authorities say ...

Emerging Markets: End of the C-Bond Era


On a tear: Brazil’s stock indexes are surging

Ranked as the world’s most-traded emerging market security for nearly a decade, Brazilian capitalization bonds (C-bonds) will soon be a thing of the past. The government will exercise a ...

Emerging Markets : Markets Shrug Off Lula’s Political Woes



Troubled: President Lula da Silva

While Brazilian corporates have stayed clear of a political scandal surrounding key leaders of President Lula Da Silva’s ruling Workers’ Party (PT), the ongoing fallout may be taking a toll on the country ...

Milestones : Venezuela’s Debt Proposal Gets Cool Reception



Venezuela’s Hugo Chavez

Skeptics are questioning the rationale behind the Venezuelan government’s proposed debt alliance for Latin American emerging markets. Its chief cheerleader, Hugo Chavez, claims the move should bolster emerging market debt prices and provide financing ...

Newsmakers : Iglesias' Early Departure Prompts Race For Successor

Latin America

Iglesias: Stepping down

Enrique V. Iglesias, president of the Inter-American Development Bank (IADB), has decided to cut short his current five-year term in order to hand over control to "new hands." Iglesias, 74, has been at the multilateral ...

Emerging Markets : Monetary Tightening Pays Off



Antonio Palocci

The Brazilian central bank’s nearly year-long monetary policy tightening drive is finally bearing fruit. The monetary policy committee (Copom) hiked the benchmark Selic interest rate by 375 basis points since last September in a move to ...

Emerging Markets : Riding the IPO Wave



Lula (bottom right) hosts an Arab/Latin-American summit

As the Brazilian central bank hikes the benchmark lending rate to curb inflation, resulting high interest rates are prompting a streak of IPOs on the São Paulo stock exchange (Bovespa), as ...

Milestones : US Receives Bloody Nose from the OAS

Unitd States


José Miguel Insulza

Washington was dealt a blow when neither of its two candidates to head the Organization of American States (OAS)—considered a US-dominated regional organization—garnered enough votes. Instead, Chilean interior minister José Miguel Insulza was ...


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GLOBAL FINANCE A PIONEERING VOICE FOR MODERN FINANCE   Global Finance is a monthly magazine founded in 1987 by publishing entrepreneurs Joseph Giarraputo and Carl Burgen. Giarraputo continues as Publisher and Editorial Director. Its mission is to help corporate leaders, ...