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Pemex, Mexico’s national energy company, earns billions of dollars a year. But that prodigious wealth is vanishing
because the government has failed to feed its exploration
budget.
Wortman Joins JP In November, JP Morgan appointed Charles Wortman as the new head of its Brazilian unit. Wortman replaces Patrick Morin, who is leaving JP Morgan after a 31-year career. Morin […]
Argentina’s financial crisis has affected the region’s
markets far more deeply than many expected. It has changed the way investors and banks approach risk in Latin America.
A 123-year-old Peruvian brewer has become the prize in
a fight to dominate the region’s beer market. The battle involves some of South America’s most powerful families.
Risk is everywhere, it is often said, and rarely has Latin America seemed riskier. However, without risk there would be no opportunity. Risk is on the rise in the region […]
Globopar Defaults Globopar, the financial arm of Brazilian media conglomerate, Organizações Globo, has defaulted on $1.5 billion in debt, because of Brazil’s falling currency and a stagnant advertising market. Rio […]
Another Argentine Default Argentina defaulted on a World Bank loan in November when it failed to make the full $805 million payment originally due October 15. Instead, the government made an […]
When President-elect Luiz Inácio Lula da Silva takes office in January, he caniether srenghthen the institutions needed
for job growth and poverty reduction, or undermine them and face the effects of collapsing economic activity, higher inflation and imploding financial systems. Mohamed El-Erian believes Lula has the guts and the will to restore financial stability to Brazil.
Commercial banks in Latin America are finally beginning to cultivate low-income customers, and finding the business highly profitable. They also are taking cues from
established micro finance lenders.
Author Michael Pettis says Latin American governments’
tendency to overspend when liquidity is abundant leaves them with precarious finances that magnify economic shocks.
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