Latest articles from Americas

Driven by confidence and conscience

February 3, 2004

Alfonso Prat-Gay, Argentina’s central bank governor, talks to Karina Robinson about his plans for recapitalising the ailing financial system.
In the run up to my meeting with 38-year-old Alfonso Prat-Gay, governor of the Central Bank of Argentina, I had met 16 top businessmen, bankers and economists who were uniformly charming and informative. So I feared for the famed trait of Argentine arrogance (the classic joke told to me by a host of locals is: How can you make a lot of money? Buy an Argentine for what you know he is worth and sell him for what he thinks he is worth). It was with a sigh of relief, then, that I encountered Mr Prat-Gay, who has that famed trait in spades.

Offshore era ends abruptly

February 3, 2004

Hugh O’Shaughnessy talks to Grenada’s Prime Minister, Dr Keith Mitchell, about why the island’s time as an offshore financial services centre was so shortlived.

Why the US deficit

February 3, 2004

Andrew Smithers argues that the US current account deficit is too small and its financial markets need to fall.

US banks show record profits

February 3, 2004

Top US banks, led by Citigroup, again produced strong profits growth in the fourth quarter and for all of 2003, reflecting imp-roved credit quality and strength in retail financial services.

Asset managers’ Latin boom

February 3, 2004

Jonathan Wheatley reports on the phenomenal growth opportunities of the asset management industry in Latin America, with Brazil leading the pack.
When Brazil introduced a temporary tax on financial transactions, the CPMF, in 1997, it was met with howls of protest. It was a regressive tax that would damage the competitiveness of Brazilian companies, critics said, and once introduced, it was unlikely to be withdrawn. The tax has indeed persisted and is much despised. But one industry has done well from it: asset management.

Trade deal loses clout

February 3, 2004

The new plans for an FTAA fall far short of ideals and economic growth could suffer, says Jonathan Wheatley.

Crumbling away behind a facade of optimism

January 5, 2004

Social unrest and a government that turns a blind eye to problems means Argentina’s future looks bleak, reports Karina Robinson from Buenos Aires.

Past lessons learnt, hope for the future

January 5, 2004

Henrique de Campos Meirelles assesses the achievements of the Lula administration in leading Brazil out of crisis.
Brazil is living through a time of hope, in which it is re-discussing its past and its present in order to create a new future. Today, it is clear that this new future may be quite different and much better than the one envisaged at the beginning of 2003.

US legislators likely to delay Basel II signing

January 5, 2004

US concern over domestic banks looks set to put back the Capital Accord again, and may jeopardise hopes of a level playing field.

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