Category: 2002
The Price of Reform
The Inter-American Development Bank has little to show for the billions of dollars it has pumped into Latin America. But Enrique Iglesias, who has led the IDB for 14 years, defends the bank’s role and revelance.
Dirty Dollars Elude the Authorities
The international offensive on money laundering has successfully cordoned off much of the world’s financial system from drug money, but an informal money laundering industry continues to flourish.
Too Tantalizing to Refuse
Argentina’s financial crisis has yielded fine pickings for predatory companies. In July, Brazil’s Petrobras snatched up the beleaguered Pérez Companc but the deal significantly raised its risk profile.
Dollarizing From a Position of Strength
El Salvador’s experiment with the greenback has gone well so far. The economy is growing, but bankers and government
officials realize there is still a lot of work ahead.
Wanted: Entrepreneurial Adventurers
Entrepeneurs in Latin America face monumental obstacles: scarce and expensive financing, bureaucracies and unstable economies. Success is rare, but if governments keep the
faith with pro-market policies enterprise may yet thrive.
No Small Tasks Lie Ahead
Roberto Junguito, Colombia’s new finance minister, has his work cut out for him. He must deal with the country’s budget
deficit, wage fiscal war on the guerillas and grow the
economy.
Presidential Promises Falter
President Vicente Fox has been unable to overcome the
political obstacles to many of his vaunted reform plans. Still,Mexico has largely avoided South America’s malaise and remains a regional economic powerhouse.