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Latin America
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News
Milestones : Slumping Copper Prices Take Shine Off Growth
CHILE Chile's president Bachelet: Stimulating economic growth. While high copper prices had maintained Chile’s economy as Latin America’s strongest, it seems the party is over as prices plummet and demand wanes. The South American country, the world’s largest ...
Emerging & Frontier Markets
Emerging Markets : Banking Giants Push For Growth
BRAZIL Presidents Medvedev and Lula call for the first-ever BRIC summit. Eager to maintain its status as Latin America’s largest financial institution, Banco do Brasil, Brazil’s largest state-controlled bank, announced the acquisition of Nossa Caixa, a bank ...
News
Newsmakers : Correa Steps Up Debt Campaign
Ecuador Correa: Buying political capital with debt restructuring. Ecuadorian president Rafael Correa has made good on his 2006 presidential campaign promise to default on any foreign debt deemed illegitimate, defaulting on $3.9 billion in global bonds. This marks ...
Emerging & Frontier Markets
Milestones : Rating Slides As Default Looms
ARGENTINA President Kirchner makes overtures to avoid debt default. After months of analysts’ warnings that Argentina may be facing a new debt default, Standard & Poor’s agreed. The ratings agency lowered Argentina’s sovereign rating on October 31 ...
Emerging & Frontier Markets
Emerging Markets : Banks Continue Consolidation
BRAZIL Brazil’s banks continued their consolidation trend, with the most recent deal in November creating Latin America’s largest financial group. Itaú, Brazil’s second-largest non-state-owned bank, announced its acquisition of Unibanco, the country’s third-largest, in a stock transaction valued ...
Emerging & Frontier Markets
Emerging Markets : Colombian Cement Maker Starts Level I Adr Program
DR NEWS Cementos Argos, the fifth-largest cement producer in Latin America, began trading its shares in the US over-the-counter market in the form of American depositary receipts. The Medellín, Colombia-based company makes white and gray cement, as well ...
Emerging & Frontier Markets
Features : Brazil Points The Way
LATIN AMERICA President Lula’s bold program of social and economic reform has become a model for economies in Latin America and beyond. Under Lula, Brasilia has focused on growing the economy in a way that benefits people at all ...
Emerging & Frontier Markets
Milestones : Four-Year Fight Ends In Cafta Ratification
COSTA RICA President Arias successfully concludes free trade agreement. Four years after it was first signed, Costa Rican lawmakers in November finally ratified Cafta, the free trade agreement between Central America, the Dominican Republic and the United States. ...
Emerging & Frontier Markets
Emerging Markets : Government Mobilizes Reserves To Boost Liquidity
BRAZIL Oil finds saw Brazil's national petroleum agency ANP reduce new exploration concessions. While Brazilian officials had touted the country’s resilience to the global financial meltdown, they got a disturbing wake-up call in October as the ...
News
Milestones : Argentina Seeks End To Default Saga
ARGENTINA Seeing off the debt: Kirchner hopes investors will accept deal. In a major policy reversal, the Argentine government is reaching out to holdouts from its $100 billion debt workout in which bondholders received a 70% ...
News
Milestones : Sovereign Funds Eye Santiago Principles
GLOBAL Place of principles: Santiago, Chile's capital, where the funds agreed to a series of standards. The International Working Group (IWG) of 26 member countries of the International Monetary Fund last month released a statement of Generally ...