US ELECTION SPECIAL
US Election Special: The Big Swing
Latin America stands both to win and lose, depending on the outcome of the US election. Bond investors are preparing for both scenarios to decide where to put their money.
US Election Special: A Hard Trade
Latin America has a lot of what the United States — and the world — needs, for energy and food security. But protectionism is upending the dynamic — and a harder line from Washington could make matters a lot worse.
US Election Special: The Resource Blessing
Latin America has long been a global source of energy and minerals. Whoever comes to power in Washington could impact which resources — fossil fuels or energy transition metals — gain most favor.
US Election Special: Voices on Latin America
An array of experts weigh in on how the US election could affect Latin America and the Caribbean – and why.
FEATURES
Infrastructure Finance: In with the new
Private companies are finding ample opportunities – and good returns – in two infrastructure sectors that have years of growth ahead of them: data centers and water.
Resilience Finance: Adapt or Lose
Pressure is rising on countries to reduce their vulnerability. But more must be done to prepare Latin America and the Caribbean for climate change to prevent billions of dollars in future losses, experts say.
Pemex: Weighing the options
After years of declining oil production and a worsening debt load, Pemex faces few options but to turn to the private sector to help develop Mexico’s wealth of energy resources. Holders of its bonds are waiting for signals on what measures the new administration will take.
Fintechs: On the rebound
After holding out during a long period of high interest rates, financial technology companies are starting to see a recovery in investment dollars, and a few are setting sights on going public.
Parting Shot— LatAm economy: A dream deferred
Latin America should be in an enviable position among emerging markets when it comes to attracting investment and boosting trade. But political ideology is hampering such efforts across the region, warns former Colombian finance minister Mauricio Cárdenas.
Finance Minister of the Year: Luis Caputo
Argentina’s finance chief won the award for averting perhaps the worst economic crisis in the country’s history by slashing spending to achieve a long elusive fiscal surplus. While poverty has surged under his watch, the minister plans to cut taxes and deregulate sectors to spur investment and put the economy on a sustainable growth track that will create jobs and boost wages.
Central Bank Governor of the Year: Roberto Campos Neto
The Brazilian policy-maker won the nod for an unprecedented third year in a row, this time for his deft management of the country’s disinflation process that has kept economic growth above market expectations. Inflation still poses a challenge — but he has a plan for this.
Market Talk
Bonds
After a gush of deals in the third quarter, Latin American bond issuance is poised to decline on concerns over any fallout from the November 5 US elections, analysts say.
Loans
After a good run in the first three quarters of this year, lending activity in Latin America is expected to decline in the fourth quarter on lower demand for refinancing and acquisitions, analysts say.
M&A
After a sluggish year so far, optimism is gaining for an increase in M&A dealmaking, led by cross-border transactions. A big challenge, however, is to broker the closing price between buyers and sellers.
Equity
After a long dry spell, Latin America’s IPO market is poised for a recovery in 2025 as an expected decline in interest rates boosts demand for equity. The first to take the plunge could be Brazilian energy and water firms, but Mexico could also see a spate of deals, analysts say.
Editor’s Letter: The Showdown
Dear Reader, In this issue, we’re covering the US election and its impact on Latin America and the Caribbean. There could be a major fallout on the region – and some benefits – either way the electorate swings. We explore this in our package of cover stories. Tom Azzopardi and Hernán Goicochea dive deep into…
2024 Project & Infrastructure Awards Winners
The LatinFinance Project & Infrastructure Finance Awards recognize the most impressive transactions and institutions in year of extraordinary innovation Photo Gallery 2024 Winners ESG Regions Sectors Banks by region Law Firms by region For more information about the selection process and the winning deals and institutions