Latin America
Brazil: The Difference a Good Team Makes
There is no way to know for sure what shape the country would be in if Dilma were still president. An abyss would be a fitting image. Fending off the risk of a more prolonged crisis was an important conquest, and despite the still fragile economic situation, confidence, bit by bit, improves.
21 Jun 2018
Brazil: The Kids Aren’t Alright
Despite Finance Ministry’s efforts to clean up public accounts and reduce fiscal risk in the future, the strategy for fiscal adjustment, as with the spending cap, has been gradual. As a consequence, one could not discard the risk of creeping insolvency, which could threaten the recently secured economic stability.
15 Jun 2018
Brazil: Low Selic Rate is Here to Stay
Although the pause in the cuts has come ahead of expectations, the basic interest rate hit an unprecedented level and, this time, it is here to stay. Even if some part of the monetary loosening is temporary, likely to revert when inflation is converging to its goal, there is a good chance of the Selic rate not coming back up to two digits. A key condition for that is the approval of Social…
1 Jun 2018
Arezzo & Co CFO on Improving Consumer Sentiment in Brazil, and International Expansion
With consumer confidence once again on the rise in Brazil, Daniel Levy, CFO of Arezzo & Co. is optimistic about the company’s fortunes as the shoemaker looks to expand its footprint both within the country and abroad. We speak with Levy about the funding team’s core objectives and the company’s expansion efforts.
25 May 2018
CASE STUDY: Albanesi Attracts Traditional Credit PMs to Rare Dual-Tranche Syndication
A testament to solid investor relations, good governance and transparency, Albanesi was able to attract traditional portfolio managers to its latest dual-tranche A/B loan syndication, a rare project finance deal in the country’s power sector.
18 May 2018
Brazil: Understanding the Past Key to Building a Better Future
Brazil is still a teenager when it comes to the functioning of democratic institutions: a country that seeks a path to civility, but not without stumbling first.
16 May 2018
Nexa Resources CFO: “Brazilian economy has been a positive story, though it’s not homogenous”
Latin American miner Nexa Resources – which recently rebranded from Votorantim Metais – has in the past year completed its dual stock exchange listing, weathered a period of low commodity prices and mining sector strikes in Latin America, and maintained strong fundamentals to step confidently into the new financial year. We speak with Mario Bertoncini, the company’s Senior VP and CFO, about its…
9 May 2018
Banco Safra’s Chief Economist: High Taxes, Protectionism Still Driving the ‘Brazil Premium’
Carlos Kawall, the lead economist at one of Brazil’s most prominent banks, talks about the improving macro outlook for the country, burdensome tax and labour laws and the dark shadow of looming presidential elections.
3 May 2018
Lundin Gold CFO Alessandro Bitelli on Financing Mining Projects in Ecuador
Alessandro Bitelli, Executive Vice President & Chief Financial Officer at Lundin Gold, a Canadian gold miner, talks about the company’s Latin American ventures, a USD300mn deal to finance a project in Ecuador, a further loan syndication and a USD400mn equity transaction, as well as broader market outlook and the impact of politics.
1 May 2018
Colombia Sees Improving Internal, External Economic Conditions
Colombia's Central Bank Governor Juan José Echavarría speaks with Bonds & Loans about the economy, interest rates, and blockchain.
17 Apr 2018