Latin America and Caribbean

AmBev is awarded Best-Managed Company in Latin America 2012 The food and beverage company also wins Most Convincing and Coherent in the region and the Consumer Goods sector category.

Decoupling the country’s economy from inflation will take a long time and prevents long-term credit from developing.

International investor interest in Latin America has intensified scrutiny of the corporate governance and investor relations of companies in the region. Big companies such as Vale, Petrobras and bank BBVA have responded remarkably well to this scrutiny. Rob Dwyer reports.

Bank of America Merrill Lynch has become one of the top-five investment banks in Latin America in just two years. There are plans to double revenues over the next three. In its new role as a universal bank, will BAML be able to compete with the international banking incumbents? Helen Avery reports.

Global and regional financial crises provide Latin America’s corporate executive with stark evidence of benefits of good corporate governance and risk management.

The partly state-owned Brazilian oil company sees no conflict between profitability, state ownership and social responsibility, according to its chief financial officer, Almir Barbassa. Jason Mitchell reports.

Large Latin American companies with substantial exposure to foreign investment are adapting rapidly to the need for good corporate governance and receptive investor relations. But there is still a hard core of resistance to change from family-centred businesses. John Rumsey reports.

Latin America’s best companies, like its capital markets, are beginning to find their bite. Boldness is the buzzword in a stable environment of 5% regional economic growth. For a growing club, foreign markets are the targets for home-grown Latin success stories. Leticia Lozano reports.

Latin American companies are shedding reputations for irresponsible management to become competitors, and even leaders, in the global markets. So much so that some don’t even want to be considered Latin any more. Lawrence White analyses the results of Euromoney’s first survey of the best-managed companies in the region.

Solid performers that buck the trend

Different ways to skin a cat

Different ways to skin a cat

In July, debt restructuring committee chairman Bill Rhodes described the signing of agreement in principle on a Brazilian Brady plan as the end of the Latin American debt crisis – a month later US bank stocks dipped 1% in a day's trading on fears that the plan would collapse. Brazilian debt prices crashed as the political upheaval in the country deepened. But against the odds, the commercial banks have pushed ahead with the plan.

Last month, Fidel Castro, president of Cuba since 1959, gave an exclusive interview to Euromoney editor Garry Evans – his first interview with the western press in years. The old dog is having to learn new tricks. While he makes it clear he is not about to allow democracy or convert Cuba to capitalism, he is gung-ho about encouraging foreign investment. But, with the Cuban economy going into a tailspin, he admits he has little choice.

Are we about to witness the creation of a great Third World debt market? Will LDC loans be transformed into junk bonds and equities on a grand scale? Idle talk, some will say, but, in this special report, Euromoney argues the case for believing that a new market will soon rise like a phoenix from the flames.

Citibank's William Rhodes has led reschedulings for Mexico, Brazil, Argentina, Peru and Uruguay. His style is measured – but determined.

Adela, the great Latin American dream that turned into a nightmare, has made history of a kind – its bonds are the first publicly-listed Eurobonds ever to be rescheduled.

Jose Rafael Trozzo swayed people in Argentina and around the world until his Banco de Intercambio Regional was shut down – how did he manage it? Steve Downer in Argentina and Nigel Bance and Julia Bright in Europe explain.

Argentina is no longer a name to make international bankers shudder.

In the November issue of Euromoney, the author gave a bird's-eye view of some of the problems of recycling oil funds to Third World countries – here a compromise solution is proposed.

Borrowing on the Euromarkets to balance their oil payments deficits is not going to be easy for Third World countries because of all those industrialized countries who need the money just as badly and constitute better credit risks. The Witteveen plan is one solution, but will the Arabs continue to put money into schemes in which they have very little say?