Latest

Daily Brief

Dec 12, 2008 Issue

Inflation Down in DR and Guatemala

Central America

The Dominican Republic and Guatemala are seeing lower inflation rates, says JPMorgan. The DR’s monthly inflation dropped by 3.3% in November, taking the annual rate to 7....

Chile Keeps Rate at 8.25%

Chile

Chile’s central bank opted to keep interest rates unchanged 8.25% Thursday. The decision to keep the TPM at its current rate was widely expected by economists. In a state...

Brazil, Peru to Cut Rates in 2009

Brazil

Brazil and Peru are expected to start easing rates next year. Credit Suisse believes there is room for a monetary easing cycle in Brazil starting at the next Copom meetin...

IDB Funnels Funds into Argentine Wineries

Bonds Structured Finance

The IDB has approved a $50m loan to Argentina’s government so it can help small-scale grape growers boost income and carry out investment plans. The program will be carri...

Brazil Telecom Clinches BNDES Funds

Economy & Policy

GVT Holdings, the Brazilian telecom company, has secured BRL616m in funds from the BNDES. The average annual interest rate of the facility is equivalent to approximately ...

Gran Tierra Eyes Argentine, Andean Investments

Argentina

Oil exploration and production company Gran Tierra Energy says it plans to make capital expenditures of $198m in Colombia, Argentina and Peru in 2009. The company, which ...

Brazil’s Bonsucesso Downgraded

Brazil

Moody’s has downgraded Brazilian midcap bank Bonsucesso to Ba3 from Ba2. The move follows the agency’s downgrading of Cruzeiro do Sul on Wednesday. The move is driven by ...

Peru’s BCP Targets $150m in DPR Bonds

Structured Finance

Banco de Credito del Peru is looking to place $150m in notes backed by diversified payment rights (DPR), say people close to the deal. The Series 2008-B bonds, which have...

Brazil Sugar Specialist Draws Suitors

Brazil

Several companies have recently shown interest in acquiring Brazilian sugarcane grower and ethanol producer Nova America, according to two sugar industry experts who aske...

Citi’s Boord Returns to Region

People Corporate & Sovereign Strategy

Veteran investment banker John Boord is returning to Citi’s LatAm unit where he will co-head regional investment banking starting January, Manuel Medina-Mora, chairman an...

Citi Rules Out More LatAm Cuts

Citi does not plan to exit any LatAm banking businesses and has completed is headcount reduction, according to the bank’s regional head. “The Latin America network has be...