Americas
With BNDES reigned in, questions over infrastructure investment in Brazil remain
With reform on the horizon for BNDES, investment opportunities are likely to open up for private banks. Infrastructure projects will still receive assistance from the country’s state development bank, but in a less direct manner, experts suggest.
14 Jun 2016
LatAm sees back-to-back annual recession for first time in 30 years
The World Bank has slashed growth forecasts across the globe, revising down its previous figure of 2.9% to 2.4%, and has warned against a further slowdown in the world’s major emerging markets. Whilst sluggish growth persists across most EMs, the World Bank predicts Latin America’s economy will experience the first back-to-back years of recession in more than 30 years.
10 Jun 2016
Commodity-linked corporates find window in Brazil
Brazilian corporates like mining giant Vale are looking to tap international markets in a brief window provided by higher commodity prices and an improving economic outlook in the country. The majority of funding would be used to refinance existing debt.
8 Jun 2016
Commodity uplift driving Latin America’s debt revival
After a quiet spell in the debt markets, Latin American issuance is again picking up as a result of rising commodity prices and regime changes among other factors. But market activity is not evenly distributed, with many Brazilian corporates such as Gol Linhas Aereas struggling to find funding that Argentine and Mexican issuers enjoy access to.
3 Jun 2016
Increased US consumer spending is a boon for Mexico
The performance of Mexico’s economy is closely tied to that of the US. The recent monthly rise in US consumer spending is likely to have a direct impact on the Mexican economy and boost investor sentiment around the latter at a time when questions are being raised about the long term performance of its markets.
3 Jun 2016
VIDEO: Neil Shearing, Chief Emerging Markets Economist, Capital Economics
Neil speaks about the difficulties the Brazilian economy faced over the last couple of years, and what could be done to improve the country's fiscal outlook amid the current economic crisis.
3 Jun 2016
VIDEO: Marcos Meireles, CEO, Rio Energy
Marcos talks about whether the project developers in the renewable energy sector are looking to raise capital for ventures in Brazil.
2 Jun 2016
VIDEO: Greg Saichin, CIO, Emerging Markets, Fixed Income, from Allianz Global Investors
Greg speaks about how Brazilian debt compares to that of other emerging markets from an investor perspective.
2 Jun 2016
Can Temer’s policies save Brazil from old politics?
Interim Brazilian president Michel Temer has set out a new economic plan that has been seen as a positive move by the international markets, but a likely delay in the implementation of pension reform and overarching concerns over political events – particularly the recent resignation of two senior ministers – will likely temper market sentiment.
1 Jun 2016
Test of Maturity
We’ve had other fiscal crises in the past. But those were other times, marked either by negligence regarding fiscal discipline or imbalances and skeletons inherited from the past. The government needed to call on the IMF on some occasions in the 1980s and 90s, and even at the start of this century, because the fiscal crisis implied inability to honor foreign debt.
23 May 2016