Latin America

Milestones | Mexico
Mexico is now Latin America’s largest annual automobile manufacturer, with 2014 production outpacing that of Brazil for the first time since 2002.

Regional Report | Latin America
Colombia, Chile, Mexico and Peru are handling the drop in commodities prices better than the rest of Latin America.

Newsmakers | Brazil
Aldemir Bendine became one of Brazil’s poster boys for success while at the helm of Banco do Brasil, but his new role as chief executive of the country’s oil giant, Petrobras, is causing him headaches.

Trends | Global Banking
On the surface at least, Spain’s Banco Santander and Cloud storage providers do not appear to have much in common.

Milestones | Venezuela
Venezuela’s introduction of a marginal free-floating currency system that will freely trade the US dollar and the bolivar seems unlikely to enlarge the country’s foreign exchange reserves or stem its growing external debt.

In a presentation in New York on February 18—his first official visit to the US since his appointment—Brazil’s Finance minister Joaquim Levy said that Brazilians are learning by doing.

Frontier Markets Report | Costa Rica
Costa Rica has a long history of actively and successfully seeking outside investment. However, the country is dealing with high unemployment and an uncertain fiscal outlook, given that the government plans to ramp up spending on social programs, which could raise the debt level.

Milestones | United States & Cuba
After 54 years of economic and diplomatic isolation, relations between Cuba and the United States appeared to thaw in mid-January, when the U.S. implemented a host of regulatory changes to its sanctions regime against the Communist country.

Brazil | Newsmakers
Joaquim Levy, Brazil’s newly appointed minister of Finance, will need to muster all his skills to navigate the rough waters of Brazilian domestic politics and restore the public budget surplus that made the country a darling of Wall Street investors.

Corporate Tax | Trends
By replacing cascading sales taxes with a value-added tax (VAT), Africa has succeeded in lowering its total tax rate to 46.6% from a peak of 72.2% in 2005.

Corporate Debt | Capital Markets
Euroclear will extend its cross-border settlement services at the end of January to Mexican corporate debt instruments known as cebures, or “bourse certificates.” This will enable Mexican companies to issue peso-denominated debt specifically targeted to international investors.

Latin America | Emerging Markets Regional Review
After years of strong growth, many key markets in Latin America are faltering. Although overall the region is no longer producing the high growth it once did, a number of markets continue to rise to new heights.

Venezuela | Milestones
Venezuela, home to the world’s largest oil reserves at 298 billion barrels, is having a tough time getting the stuff out of the ground.

Corporate Tax | Management
Approximately 500 American companies operate in Argentina—but on November 3 that number abruptly decreased by one as the country’s tax authority, the Administración Federal de Ingresos Públicos (AFIP) revoked the company’s registration, accusing P&G of tax and accounting fraud.

Newsmakers | Argentina
Argentine president Cristina Fernández de Kirchner in early October triggered the resignation of the head of the country’s central bank, Juan Carlos Fabrega, by criticizing him for not reducing manipulation of the country’s currency. His replacement, Alejandro Vanoli, formerly the head of the country’s securities regulator, CNV, doesn’t look likely to set Argentina on a better path.

Milestones | Colombia
The Organization for Economic Cooperation and Development (OECD) is a relatively small club of 34 countries. It seeks long-term social and economic development through data collection, analysis and discussions.

MILESTONES | LATIN AMERICA
In Latin America, the outlook for private equity and venture capital remains bright. Despite a 10% fall in investments during the first half of 2014, local and global players increased the amount of funds raised.

TRENDS | DIGITAL CURRENCIES
Ecuador is gearing up for the launch of a new digital currency that will go into use as early as October alongside the US dollar, the country’s official tender.

BRAZIL
Brazilian president Dilma Rousseff will be running for a second term in October, and if she can keep her momentum going, there’s a good chance she’ll win.

TRENDS | SNAPSHOT: PANAMA