2006

Newsmakers : Economy Minister Jumps off Deep End

ARGENTINA Felisa Miceli Just weeks after taking over as Argentina’s new economy minister, Felisa Miceli is already tackling one of the country’s biggest bogeys—inflation. The former head of the state-owned Banco de la Nación says she’ll take a tough stance ...

2005

Emerging Markets : Investment Grade Looms for Brazil

Brazil Brazil continues to move closer to a coveted investment-grade rating, albeit slowly. In October Moody’s upgraded the sovereign’s foreign currency rating to Ba3 from B1 with a positive outlook, putting it three notches away from the top rating. The ...

Milestones : Buenos Aires Opens Global Swap

Argentina 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

Colombia 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 guaranteed ...

Emerging Markets : Insurance Industry to Open Up

India 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?

Perú 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 he ...

Emerging Markets : Brazil Debuts Local Currency Sovereign Issue

Brazil Brazil issued its debut real-denominated bond issue on international markets in September. The R$3.4 billion ($1.5 billion) sovereign deal, which matures in 2016, was priced to yield 12.75% (vs. 15.5% for a domestic issue maturing in 2012). The benchmark ...

Emerging Markets: End of the C-Bond Era

Brazil 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 call option ...

Emerging Markets : Markets Shrug Off Lula’s Political Woes

Brazil 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’s economic ...

Milestones : Venezuela’s Debt Proposal Gets Cool Reception

Venezuela 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 for the ...

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

Brazil 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 curb ...

Emerging Markets : Riding the IPO Wave

Brazil 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 corporates ...

Newsmakers : Fox Climb-Down Opens Way for Amlo’s Bid for Presidency

Mexico AMLO: Ready for the race When the Mexican government moved to keep Mexico City mayor Andrés Manuel López Obrador—commonly referred to by his initials, AMLO—from seeking the presidency next year, some 250,000 Mexicans took to the streets. The outcry ...

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 elected secretary ...

Others

About Us

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, ...