Ecuador’s finance minister and chief debt negotiator admits that foreign creditors have reason to doubt the country’s integrity. But Jorge Guzmán says radical economic changes can restore faith.
Category: Regions
Posted inMagazine
Mutual Funds Gain Ground in Mexico
Legal changes and growing prosperity have assured Mexico’s mutual fund industry a significant role. The beneficiaries are savers and financial institutions, including foreign and independent players.
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Santander Buys Serfin
Spain’s Banco Santander Central Hispano won the auction for Mexico’s third-largest bank, Grupo Financiero Serfin, with a bid worth 14.7 billion pesos ($1.56 billion). The government took over Serfin last […]
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Peru’s Moment of Truth
Whoever wins the presidential election, international investors want to see Peru’s new leader stabilize the country’s finances. Even the faintest whiff of populism would discourage foreign investment.
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Spanish Steel Deal
Spain’s Aceralia Corporacion Siderurgica has said it will go ahead and buy Ahmsa, Mexico’s largest steelmaker. Aceralia has until June 15 to make a formal proposal to the bankrupt company’s […]
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ScotiaBank Buys Controlling Stake in Inverlat
Canada’s Bank of Nova Scotia is spending $40 million to become the majority shareholder in Grupo Financiero Inverlat SA, the struggling Mexican bank that was rescued by the government. ScotiaBank […]
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Serfin Sale Could be Harbinger
Three foreign banks have registered to bid for Mexico’s third biggest bank, Grupo Financiero Serfin, at an auction scheduled for May. Spain’s Banco Santander Central Hispano, London-based HSBC, and Citigroup […]
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The Investment Management Review Part II – Equity Funds
Telecommunications came as close as possible to being a one-way bet last year as Latin equity markets caught the Internet bug. Teléfonos de Mexico (Telmex) continued storming ahead and privatized […]
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The Rating Game
Moody’s earlier-than-expected boost of Mexico to investment grade has underscored the more subtle factors at play among rating agencies vying for a piece of the action.