Archive

March / April 2013

Peru Sees Rates Steady: Velarde

Peru's central bank does not yet see signs for a rate cut, central bank governor Julio Velarde said.

China forex chief signals investment shift

China Economy & Policy Corporate & Sovereign Strategy

China will forge ahead with efforts to diversify its $3.3 trillion foreign exchange stockpile into higher yielding assets, Yi Gang, director of China’s State Administrati...

Ecuador Plans Exchange, New Bond

Ecuador plans to launch an exchange offer for holdout creditors, clearing the way for a new sovereign bond sale, deputy finance minister Fausto Herrera said.

Front Notes: The new world

Jim O’Neill's grouping of the Brics in 2001 defined a concept for investment in the decade ahead. The acronym focused attention on the emerging markets, and investors who...

Man of the year: Seize the moment

Economy & Policy Corporate & Sovereign Strategy

Having confounded observers with his pragmatism, Ollanta Humala now has an historic opportunity as president to cement the gains of Peru's economic boom - and secure his ...

Exclusive: Humala pledges fresh currency action

Economy & Policy Corporate & Sovereign Strategy

Peru will press ahead with measures to protect its currency from any rapid appreciation that could threaten its export sector, the country’s president Ollanta Humala has ...

‘Unite, don’t divide’: an interview with Ollanta Humala

In his most extensive interview to date with the foreign press, Peruvian president Ollanta Humala tells LatinFinance his plans for economic reform – and how he hopes to s...

Tax and protectionism: part two of an interview with Ollanta Humala

In his most extensive interview to date with the foreign press, Peruvian president Ollanta Humala tells LatinFinance his plans for economic reform – and how he hopes to s...

Legacy and regret: part three of an interview with Ollanta Humala

In his most extensive interview to date with the foreign press, Peruvian president Ollanta Humala tells LatinFinance his plans for economic reform – and how he hopes to s...

Currency wars: Pressure point

Economy & Policy Corporate & Sovereign Strategy

Latin officials are struggling with the fallout of capital inflows in an era of easy money. The risk of financial instability may be growing

Finance ministry scorecard: Standing out

Economy & Policy Corporate & Sovereign Strategy

The past year has cemented the status of a fresh crop of small, nimble economies as the region’s most dynamic – and resilient. When it comes to economic management, Chile...

Public credit scorecard: A step ahead

Bonds Corporate & Sovereign Strategy

Mexico once again leads the pack for its sophistication in well-timed, tightly priced sales and a number of groundbreaking deals

Sovereign debt: Next in line?

Ecuador Bonds Economy & Policy

Bolivia and Paraguay have shown the bond market is open for riskier credits at exceptionally low rates. An Ecuadorian benchmark may push the limits of incredulity – but m...

Venezuela: Making change

Venezuela Economy & Policy Corporate & Sovereign Strategy

Despite devaluing the bolívar in February, Venezuela’s chronic dollar shortage continues. Another devaluation may well be on the cards

Africa: Height of the sky

Economy & Policy Corporate & Sovereign Strategy Africa

As economies boom on both sides of the south Atlantic, the potential for trade and investment between Latin America and Africa has scarcely been so great

China: Forward march

China Bonds

After years of tentative steps, China’s banks are poised to expand aggressively in Latin America

Russia: Hand in hand

Economy & Policy Corporate & Sovereign Strategy Russia

Russian energy companies and banks have started venturing into Latin America. Despite their aspirations, the extent of the new relationship remains in doubt

Itaú 2013 Investor Perception Study: Shopping spree

Equity Funds

Retail, mining and processed foods are investors' favorites according to LatinFinance's survey of six industries. Andean countries come out on top and Argentina, at the b...

Loan market: Silver linings

Loans

Loan volumes are likely to pick up later in 2013, especially for acquisitions. But attractive rates on bonds and local currency deals continue to draw borrowers

Brazil: Charm offensive

Brazil Funds

Despite Brazil's latest infrastructure drive, private investors still need convincing that the country is serious about welcoming them

Brazil real estate funds: A local affair

Brazil

Brazilian real estate funds are maturing – but getting international accounts involved is no easy task

Brazil Stars Index: In good company

Brazil Funds

Strong management practices pay off: the M&E LatinFinance Brazil Stars Index outperforms the IBovespa by 53.6%

Mexico: Turning point

Mexico Bonds

Mexico’s state finances are set for an overhaul under a new economic reform plan. But short-term borrowing is causing concern

Mexico banking: Rules of the game

Bonds Corporate & Sovereign Strategy Mexico

Mexico’s banks hope to benefit from the country’s fast-tracking of new global regulations

Mexico real estate: A matter of trust

Mexico

Mexican Fibra funds are growing in size and popularity. But quality management and properties will be key to replicating the success of US REITs

Panama: Building a deficit

Panama Economy & Policy Corporate & Sovereign Strategy

Construction is driving Panama's economy, and the infrastructure boom goes far beyond the canal expansion, with mining set to increase. But budget worries still lurk in t...

Parting Shot: Armed resistance

Economy & Policy Corporate & Sovereign Strategy

Battling the effects of quantitative easing is one of the biggest challenges facing emerging markets. But capital controls are no solution, says Chile’s finance minister ...

People: Doebeli heads Lupatech

People

Brazilian oil services company Lupatech has hired Ricardo Doebeli as CEO, replacing Alexandre Monteiro, who has left the company. Doebeli joins from private equity firm G...

Debt: High-yield leaps then stumbles

Bonds

High-yield credits surfaced earlier than usual this year and dominated issuance in the first weeks of 2013, taking advantage of an uptick in risk appetite. But by Februar...

Equity: A price to pay

Equity

The equity markets got off to a better start this year than last, but the results have so far been mixed. Optimists’ mantra that markets are open for the right names at t...

M&A: BBVA continues pensions exit

M&A

BBVA continues to dispose its LatAm pension businesses, with the $2 billion sale of its Chilean AFP Provida unit in February. That followed the $530 million sale of Horiz...

Costa Rica | A matter of time: Interview with president Laura Chinchilla

Costa Rica Economy & Policy Corporate & Sovereign Strategy

As Costa Rica’s president Laura Chinchilla enters her final year in office, she talks to LatinFinance about her remaining ambitions – and her legacy

Costa Rica | Banking Sector: Holding steady

Costa Rica Economy & Policy Corporate & Sovereign Strategy

Costa Rican banks are confronting tighter credit controls as authorities grapple with an explosion in dollar lending. The central bank insists such moves are a necessary ...

Costa Rica | Capital markets: Blue sky thinking

Costa Rica Bonds Economy & Policy

Heavy government debt issuance locally has put a damper on Costa Rica’s fledgling capital markets. Yet dynamism is coming from specialized areas

Costa Rica | FDI. Sum of the parts

Costa Rica is courting increasingly specialized industries. But further development as a tech hub will demand more investment

Costa Rica | Macro economy: Finding hope

Costa Rica Economy & Policy Corporate & Sovereign Strategy

Costa Rica wants to jump into the club of high-income economies. To do so will require better infrastructure and education – and a way to pay for it

Costa Rica | On a mission: Interview with finance minister Edgar Ayales

Costa Rica Economy & Policy Corporate & Sovereign Strategy

Edgar Ayales returned from Washington DC to Costa Rica two years ago, following a career as an economist at the IMF. Then, last year, he got the call to take on the finan...

Costa Rica | Overview: Work in progress

Costa Rica Economy & Policy Corporate & Sovereign Strategy

Costa Rica is seen as a beacon of stability in a troubled region. But it must confront a range of challenges if it’s to build on more than half a century of economic prog...

Costa Rica | Terms of Trade: Interview with Costa Rica's trade minister Anabel González

Costa Rica Economy & Policy Corporate & Sovereign Strategy

Anabel González became Costa Rica’s trade minister in May 2010, joining from the Inter-American Development Bank, where she was a senior adviser. She spoke to LatinFinanc...

Costa Rica | Tourism: Come rain or shine

Costa Rica Economy & Policy Corporate & Sovereign Strategy

Its green credentials have long attracted tourists, but in the wake of the global crisis, Costa Rica needs more hotels and flights to bolster one of its biggest industrie...