Brazil’s central bank assumed control of the operations of struggling Banco Santos on November 15 after the latter was ordered to provide R$700m ($251m) to cover defaulted loans, a sum that exceeded its ability to pay by R$100m.

Chile may outshine its regional rivals with an economy that has matured since its democratisation in 1990, but there is still work to be done to raise the living standards of the general population, as Jason Mitchell reports.
Chile, the most successful economy in South America, needs major structural reform if it is to enjoy the kind of economic growth seen in the countries of east Asia.

Bermuda has made great strides since the late 1990s on the e-commerce front. Michael Scott, the island’s telecommunications minister, outlines his policy vision.
Bermuda’s recently appointed minister of telecommunications and e-commerce, Michael Scott, is not banking on another dot-com gold rush, predicting that the growth of e-business will be a gradual process. He also believes that it is the government’s responsibility to create an environment that is conducive to private sector development and fosters customer appetite for products and services.

Bermuda’s stock exchange is tightening regulation to fit in with international guidelines.

Relaxation of Bermuda’s foreign ownership laws is boosting the island’s bank sector, reports Mairi Mallon.

Bermuda’s insurance market remains buoyant despite huge payouts after the hurricane season. This is just one of many reasons why the country is so attractive to financial services firms, reports Mairi Mallon.

BRAZIL’S LONGEST EVER banking strike came to an end last month, four weeks after it commenced, as workers heeded their union bosses’ call to return to their jobs. Nearly half of the country’s 400,000 bank employees had walked off the job on September 15, when Brazil’s banks refused to give them a 25% salary increase.

Chilean President Ricardo Lagos talks to Karina Robinson about reform and the challenges ahead of next year’s election.

Can Costa Rica – traditionally stable compared with its central American neighbours – preserve its tradition of consensus building and move ahead with liberal economic reforms? Jane Monahan reports.
The question mark over Costa Rica’s economic future came into sharp focus when the finance minister, Alberto Dent, resigned on September 3, at a time of mounting opposition to his package of economic reforms.

Welcome to Texas, where global banking heavyweights are racing to cater to the banking needs of the fast-growing Hispanic population. Monica Campbell reports.
In Texas, as in other Hispanic US states, such as California, Florida and New York, both foreign and US banks are rushing to cater to a Hispanic market that they merely dabbled in not so long ago.
It is easy to see why Hispanics are finally getting attention. The Hispanic population is the fastest-growing minority group in the US, and it is predicted to grow from 14% of the country’s population – 40 million people – to 24% by 2050, according to the US government.