Americas - Banking and finance in North America, South America & Central America -

Latest articles from Americas

Marriages face a rocky future

August 2, 2004

A newly-elected minority Liberal government has left the prospects for Canadian bank mergers looking uncertain. Sheldon Gordon reports from Toronto. Canada’s general election on June 28 produced the worst possible outcome for the country’s banking sector. Prime minister Paul Martin’s Liberals were returned to office but, with only a plurality of the seats, they will have to cater to two smaller, left-wing parties in order to command a majority in parliament. Bankers would clearly have preferred the stability of a clear-cut victory by either Mr Martin’s Liberals or their main opponent, the Conservative Party.

Mexican bank accord eases bad debt spat

August 2, 2004

One of the thorniest chapters of Mexico’s 1994-95 financial meltdown may be closing. In mid-July, four of the country’s biggest foreign-owned banks – Citigroup-controlled Banamex, HSBC of the UK, BBVA Bancomer, the local unit of Spain’s Banco Bilbao Vizcaya Argentaria, and Mexican-run Banorte – agreed to absorb nearly $830m in bad loans that the government took on in return for bonds in order to help save the banks following the peso crash.

Shaken but still standing

July 2, 2004

In the past decade, the Bolivian banking system has faced economic crises brought on by social unrest but has withstood them. Jason Mitchell reports from La Paz.

Bermuda opens up to foreigners

June 2, 2004

Bermuda is relaxing its rules on foreign ownership of banks, witnessed by HSBC’s recent acquisition of Bank of Bermuda. Mairi Mallon reports on changing times.
Walking into one of the two main banks in Bermuda is like going back in time to England in the 1970s. The doorman knows many customers by name and long queues form every Friday as customers deposit their weekly pay cheques.

Can-do attitude

June 2, 2004

Luiz Fernando Furlan, Brazil’s minister of state for development, industry and foreign trade, tells Brian Caplen that his country’s approach to trade is positive.

Chase is on for the whole enchilada

June 2, 2004

Mexico’s prospects look bright but, as Monica Campbell reports, politicians are resentful that the dominant – and prosperous – foreign banks are not doing enough to help the local population.

Does Iraq herald America’s last stand?

June 2, 2004

While the US gets further embroiled in Iraq, economies such as China and Brazil are starting to assert themselves.

America for sale

June 2, 2004

European banks are rushing to buy American banks, but will they make money? Or will it all end in tears, as it did the last time they tried in the 1980s.

Investors search for stability overseas

May 3, 2004

Local asset managers in Argentina may be suffering but foreign firms are benefiting. Jason Mitchell reports from Buenos Aires.

Exports key for lifting economy

May 3, 2004

Bolivia is anxious to capitalise on its resources but political unrest is making this difficult.
Bolivia’s new finance minister, Javier Cuevas, faces a tough task. He has to steer the poor, landlocked country’s economy amid an intense period of political uncertainty.