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
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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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ABN AMRO Opens Mexican Brokerage
With an eye toward the expected flood of new investment-grade issues in Mexico, Netherland’s-based ABN AMRO is launching a brokerage business in Mexico, the only big market in Latin America […]
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Brewer Appoints Marketing Director
Mexico-based brewer Femsa Cerveza has named former Coca-Cola executive Randel Thomas Ransom its new marketing director, replacing Jorge Montemayor who has become a dean at the Instituto Tecnologico y de […]
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CIE Names CEO
Corporacion Interamericana de Entretenimiento has named Rodrigo Gonzalez Calvillo, its general director in Mexico, as chief operating officer. Gonzalez Calvillo has served on the company’s board of directors since 1995 […]
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Mexico and Venezuela Post Best Performance to Date
Steadily rising oil prices have pushed up Mexican and Venezuelan bond prices since January. However, they are not doing much better than the benchmark EMBI+ index, which has gained 9% […]
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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 […]