Emerging Markets : Brazil

BRAZIL     Revving up: BV stake boosts Banco do Brasil’s auto loan portfolio The Brazilian government returned to international capital markets in January with $1.025 billion in dollar-denominated global bonds maturing in 2019. The 10-year issue, led by Goldman ...

Milestones : Slumping Copper Prices Take Shine Off Growth

CHILE     Chile's president Bachelet: Stimulating economic growth. While high copper prices had maintained Chile’s economy as Latin America’s strongest, it seems the party is over as prices plummet and demand wanes. The South American country, the world’s largest ...

Newsmakers : Correa Steps Up Debt Campaign

Ecuador     Correa: Buying political capital with debt restructuring. Ecuadorian president Rafael Correa has made good on his 2006 presidential campaign promise to default on any foreign debt deemed illegitimate, defaulting on $3.9 billion in global bonds. This marks ...

Emerging Markets : Banks Continue Consolidation

BRAZIL     Brazil’s banks continued their consolidation trend, with the most recent deal in November creating Latin America’s largest financial group. Itaú, Brazil’s second-largest non-state-owned bank, announced its acquisition of Unibanco, the country’s third-largest, in a stock transaction valued ...

Features : Brazil Points The Way

LATIN AMERICA President Lula’s bold program of social and economic reform has become a model for economies in Latin America and beyond.   Under Lula, Brasilia has focused on growing the economy in a way that benefits people at all ...

Milestones : Sovereign Funds Eye Santiago Principles

GLOBAL       Place of principles: Santiago, Chile's capital, where the funds agreed to a series of standards. The International Working Group (IWG) of 26 member countries of the International Monetary Fund last month released a statement of Generally ...

Milestones : Argentina Seeks End To Default Saga

ARGENTINA       Seeing off the debt: Kirchner hopes investors will accept deal.   In a major policy reversal, the Argentine government is reaching out to holdouts from its $100 billion debt workout in which bondholders received a 70% ...

Milestones : Rating Downgrade Bucks Local Trend

ARGENTINA   Don't cry for me: Kirchner's woes deepen as inflation accelerates. While Peru and Brazil crossed the investment-grade threshold this year, Argentina is moving in the opposite direction. Ratings agency Standard & Poor’s downgraded Argentina’s foreign and local long-term ...

Newsmakers : Calderón Aide Takes Top Economy Job

MEXICO     Mexico's president Felipe Calderón is hoping Ruiz can help get the economy back on track. Faced with the fallout from the US economic slowdown, Mexico’s president, Felipe Calderón, appointed former businessman Gerardo Ruiz to the country’s top ...