Banking
SANTANDERS CLOUD GAMBIT: WILL MORE BANKS FOLLOW THEIR LEAD?
Trends | Global Banking
On the surface at least, Spain’s Banco Santander and Cloud storage providers do not appear to have much in common.
Latin America
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Capital Raising & Corporate Finance
VENEZUELA: FREE-FLOATING CURRENCY UNLIKELY TO STAVE OFF DEFAULT
Milestones | Venezuela
Venezuela’s introduction of a marginal free-floating currency system that will freely trade the US dollar and the bolivar seems unlikely to enlarge the country’s foreign exchange reserves or stem its growing external debt.
Economics, Policy & Regulation
Brazil: Correcting Its Fiscal Slippage
In a presentation in New York on February 18—his first official visit to the US since his appointment—Brazil’s Finance minister Joaquim Levy said that Brazilians are learning by doing.
Emerging & Frontier Markets
COSTA RICA: THE FDI SUCCESS STORY
Frontier Markets Report | Costa Rica
Costa Rica has a long history of actively and successfully seeking outside investment. However, the country is dealing with high unemployment and an uncertain fiscal outlook, given that the government plans to ramp up spending on social programs, which could raise the debt level.
Emerging & Frontier Markets
US-CUBA RELATIONS THAW, BUT CHALLENGES REMAIN
Milestones | United States & Cuba
After 54 years of economic and diplomatic isolation, relations between Cuba and the United States appeared to thaw in mid-January, when the U.S. implemented a host of regulatory changes to its sanctions regime against the Communist country.
Economics, Policy & Regulation
BRAZILIAN ECONOMY: CAN LEVY HELP IT TURN A CORNER?
<strong>Brazil | Newsmakers</strong><br />
Joaquim Levy, Brazil’s newly appointed minister of Finance, will need to muster all his skills to navigate the rough waters of Brazilian domestic politics and restore the public budget surplus that made the country a darling of Wall Street investors.
Capital Raising & Corporate Finance
MEXICAN COMPANIES GAIN ACCESS TO EUROCLEAR FOR PESO DEBT
<strong>Corporate Debt | Capital Markets</strong><br />
Euroclear will extend its cross-border settlement services at the end of January to Mexican corporate debt instruments known as cebures, or “bourse certificates.” This will enable Mexican companies to issue peso-denominated debt specifically targeted to international investors.
Capital Raising & Corporate Finance
ARGENTINA’S TAX DEPARTMENT STRIPS PROCTER & GAMBLE LICENSE
<strong>Corporate Tax | Management</strong><br />
Approximately 500 American companies operate in Argentina—but on November 3 that number abruptly decreased by one as the country’s tax authority, the Administración Federal de Ingresos Públicos (AFIP) revoked the company’s registration, accusing P&G of tax and accounting fraud.
Economics, Policy & Regulation
LATIN AMERICA: END OF THE BOOM ERA?
<strong>Latin America | Emerging Markets Regional Review</strong><br />
After years of strong growth, many key markets in Latin America are faltering. Although overall the region is no longer producing the high growth it once did, a number of markets continue to rise to new heights.
Capital Raising & Corporate Finance
OIL-RICH VENEZUELA FORCED TO IMPORT CRUDE
<strong>Venezuela | Milestones</strong><br />
Venezuela, home to the world’s largest oil reserves at 298 billion barrels, is having a tough time getting the stuff out of the ground.
Banking
ARGENTINE GOVERNOR MAY FURTHER DILUTE CENTRAL BANK INDEPENDENCE
Newsmakers | Argentina<br />
Argentine president Cristina Fernández de Kirchner in early October triggered the resignation of the head of the country’s central bank, Juan Carlos Fabrega, by criticizing him for not reducing manipulation of the country’s currency. His replacement, Alejandro Vanoli, formerly the head of the country’s securities regulator, CNV, doesn’t look likely to set Argentina on a better path.
Economics, Policy & Regulation
COLOMBIA TO JOIN OECD
Milestones | Colombia<br />
The Organization for Economic Cooperation and Development (OECD) is a relatively small club of 34 countries. It seeks long-term social and economic development through data collection, analysis and discussions.