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 ...

Milestones : Copper Giant In Sell-off Talks

CHILE               Chile's state-owned copper mine, Codelco, faces opposition over privatization plans.   With the long wave of Latin American privatizations seemingly coming to an end, Chile looks like it might be about to ...

Newsmakers : Paraguay Joins The Leftist Club

PARAGUAY     Lugo: Promising to improve Paraguay's international standing. Paraguayan president-elect Fernando Lugo, a former Catholic bishop, is the newest member of Latin America’s growing list of left-wing leaders. He faces serious challenges in a country that, until his ...

Newsmakers : In The Hot Seat

ARGENTINA   Fernandez: His appointment unsettled financial markets. As he slips into the seat occupied by four others in less than a year, Argentina’s new economy minister, Carlos Fernandez, faces the unenviable task of restoring confidence in his government’s economic ...

Milestones : Peru Makes The Grade

PERU     Peru's president Alan Garcia: Fiscal policies led to upgrade. While analysts debated whether Brazil or Panama would win the race to become the next Latin American investment-grade-rated country, Peru beat both countries to the finish line. Citing ...