Latin America and Caribbean

While the region has proved its economic and financial resilience in recent years, it’s time to look ahead and become competitive for whatever the next 50 years will bring, says former Colombia finance minister Mauricio Cárdenas.

After decades of trying, have LatAm’s central bankers finally steadied the ship? Mexico's Agustin Carstens, one of the monetary policy stalwarts of the region, takes stock.

Since Roberto Setubal became chief executive of Itaú Unibanco in 1994, the bank’s growth has been spectacular – but the next stage is harder to target.

Argentina is on a precipice, Venezuela has a humanitarian crisis and Brazil is just exiting its worst-ever recession – so far, so Latin America. But some countries have shown a path to sustainable growth and others are now grasping the nettle of reform. In a series of articles to commemorate 50 years of Euromoney, we speak to architects of previous recovery plans and to today's heads of the region's top banks and investment banks and ask: could an end to Latin America's long history of boom and bust finally be in sight?

The region’s leading banks produce some of the best numbers in the global industry, and success in retail banking – and a hard-learned approach to risk management – are core; could the growth of digital banking bring a new era of change?

Staying committed to a region where deal flow sometimes stops overnight is tough for an international investment bank. Local firms and the few foreign competitors that have stuck around hope to benefit from any upturn in business. The in-and-outers might find it hard to get back.

The country is now in default on almost all of its foreign currency bonds; investors need to think ahead about the debt renegotiation to come.

Multiple positive factors point to outperformance of Brazil’s banks in EM, but pensions reform risks remain.

They aren’t making headlines – for the right reasons.

I can’t seem to stop worrying about Argentina in its election year.

With its focus on SMEs, the bank is well set to grow with the Brazilian economy

Itaú is performing well, but faces challenges in its corporate banking unit.

Santander’s Brazilian bank took lots of deserved acclaim when Santander released its global third-quarter results, but keep an eye on Mexico.

New president’s move to the left sparks growth fears as banks hit by deteriorating macro outlook as well as fee regulations.

A lower-profile announcement caught Euromoney’s eye after the bluster of the G20 meetings in Buenos Aires.

Capital markets could be in for a bumper year in Brazil in 2019, with bankers hoping that a strong economic inheritance and a market-friendly policy agenda will prompt a jolt of activity.

Concerns over president-elect Amlo could see investors rethink their Mexico exposure.

Buyers and sellers need to show some discipline.

Central bank taking further action to lower credit costs through competition; Banco Inter’s post-IPO growth shows digital banking opportunity.

Santiago Peña helped secure Paraguay’s relentless upward trajectory while minister of finance – now he has switched to the private sector and has the perfect perspective to judge the outlook for the Mercosur countries.

Another financial crisis has rocked the country. As it slips into what could be a deep recession, time is running out to achieve the recovery that could create the conditions for a pro-market candidate to win next year’s presidential elections.

When president Macri’s finance team settled with the bond hold-outs and re-opened Argentina to the capital markets, the good times rolled. But following that emerging markets feast came indigestion. Investment bankers in the country face an uncertain future.

They are used to dealing with a crisis, but they can usually see one coming. Does the shock of the IMF bailout leave local firms vulnerable?

It was always going to be a tough year for debt capital markets in Latin America. A turbulent election calendar in three of its biggest economies and rising US rates had been expected to dampen issuance volumes. But few anticipated the drop-off would be so severe.

Jair Bolsonaro's election today as Brazil’s next president could well spell more market upside, but the nationalist protectionism that is likely to follow should give investors pause

If Argentina’s financial crisis is going to turn into a banking crisis, as it did in 2001, that transmission will first be identifiable in the deposits data.

All eyes will be on the next Brazilian president’s first steps towards a much-needed fiscal adjustment. That will likely be Jair Bolsonaro – who is well ahead of Fernando Haddad as the final round of voting approaches on 28 October.

Brazil’s banks are now an election issue.

The resignation letter of Luis Caputo, until September 25 the president of Argentina’s central bank, is effectively the IMF’s receipt for the purchase of the country’s monetary policy.

Credit scoring changes could be the key to breaking Brazil’s interest-rate burden.