Brazil: The Banco Central do Brasil gave new Finance minister Nelson Barbosa a bit of help on January 20, when it decided to hold the short-term interest rate, the Selic, to 14.25%.
The axe fell on Brazil heading into 2016 as it suffered a downgrade to junk status by Fitch Ratings, heightening the air of crisis as the beleaguered nation grapples with political turmoil and recession.
Corporate Governance | Management
Selling the assets could improve BTG’s net worth by 20 billion reais ($5 billion).
The appointment of Alfonso Prat-Gay as Argentina’s new Finance minister was a clear sign to international investors that president Mauricio Macri, sworn in December 10, was serious about unraveling the populist policies of the previous government.
Grassroots anti-corruption movement promises new era of transparency.
He has become the face of Puerto Rico’s woes, warning in media interview after interview of its inability to pay its bills and serving as the island’s bearer of bad financial news.
Trends | Taxation
Brazil is well known in the global business sector for its tax complexity, heavy tax burden (around 35% of GDP) and high use of technology for tax collection. Not for nothing do Brazilians call their tax authority—Receita Federal do Brasil—“the Lion.”
Global Finance interviews senior executives from some of the banks featured in this year’s World’s Safest Banks rankings.
Guatemala’s political turmoil, with parties deadlocked in Parliament, a runoff election looming and corruption scandals exploding, means the government will operate in a kind of suspended animation until 2016.
Global Finance unveils its annual list of the best banks globally, regionally and by country. The winners have provided the best service to clients.
Global Finance’s annual evaluation of the work of the world’s central bankers found some stellar performances, and some dismal ones. The toughest challenge for many: propping up falling prices.