LatAm infra markets struggle to shake off corruption

LatAm infra markets struggle to shake off corruption

Project & Infrastructure Finance Argentina Brazil Chile Colombia Mexico Peru China Bonds Loans Economy & Policy Corporate & Sovereign Strategy Canada Special Reports

If 2016 was a year of cautious optimism in Latin America’s project finance market, then 2017 feels like a time of hopeful pessimism. Last year’s downturn is dragging on, and the expectations that the number of deals would build back up in a matter of months have been frustrated. Project finance deals slumped 30% in 2016 and have not shown signs this year of returning to 2015 levels. Debt and equity funding came to $13.8 billion in the first half of 2017, flat on $13.6 billion in 2016, according to data from Dealogic. By contrast, $18.6 billion in deals were closed in the first half of 2015. The number of projects that reached financial close was fairly constant in each of the three periods,

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