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 […]
Category: 2002
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Banking & Business
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 […]
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Sovereign Report
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 […]
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Brazil’s Defining Moment
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.
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Bridging the Credit Divide
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.
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Financial Crises Beget Economic Fallout
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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Going Global with Peso Paper
Bancomext, the Mexican government’s export-import bank, set a new benchmark in November when it issued the first peso issue that can be traded by international investors.
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Going Wrong, Getting Out
Losses, plunging currencies and rating downgrades have
sparked an exodus by international banks from Latin America. Local banks are going on a spending spree.
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IFC Answers the SOS
The World Bank’s International Finance Corporation has
come to the rescue of top-tier Latin American companies strapped for cash as a result of external events.
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Itaú Gains Two Kinds of Capital
By buying local competitor BBA Creditanstalt, Brazil’s
second-largest private sector bank substantially grows its assets
and gains the talent inside a well-run wholesale
franchise.