António Guterres, the former prime minister of Portugal and UN high commissioner for refugees, took over on January 1 for a five-year term as the United Nations secretary general. The fact that Guterres ran a major UN agency during a global refugee crisis would help him to focus on ways to better integrate the various UN operations and to partner with other institutions.
With alternative lending on the rise, Brazil seeks to establish new and reliable sources of financial information.
The Felaban Annual Assembly in Buenos Aires in November is expected to be one of the biggest networking events of the year for international bankers.
Foreign-currency bonds offer Argentina needed resources but come with heavy risks.
Latin American nations seeking fiscal fixes encounter a wide variety of factors beyond their control.
CREDIT LINE | On a visit to Argentina in August, Citi CEO Michael Corbat met with the country’s pro-market president, Mauricio Macri, and announced a $3.5 billion line of credit for the bank’s 1,300 corporate and institutional clients in the country.
Brazil | Despite the optimistic expectations in 2009, when Rio de Janeiro was chosen to host the 2016 Summer Olympic Games, the competition in August is not likely to show Brazil in the best light.
Well known for his caution, Brazil Finance Minister Henrique Meirelles is well aware of the enormity of his nation’s fiscal hole. Brazil is likely to report a primary deficit of $36 billion this year, instead of the $6.8 billion surplus previously forecast.
While Latin American economies are expected to shrink by roughly 1% this year, Mexico is slated to grow 2.2%.
Milestones | Brazil
In this time of recession, Brazil’s economy is becoming more agribusiness-oriented. The sector generated 23% of Brazilian GDP last year, after 21.4% in 2014, and accounted for 46.3% of total exports.