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Colombia has had mixed fortunes in the debt market in recent years. Successful international issues and an investment grade rating have been superceded by social problems and a drop in emerging market confidence. The local bond market is now suffering as well. Isabel Vallejo reports

The free market doesn't work. The emerging markets are crying foul. Global capital has been rampaging through their economies with dire effects. The most extreme case is Malaysia, prompting Mahathir Mohamad, that country's populist demagogue, to declare that "the free market has failed disastrously".

Singapore has fared better than its neighbours since the onset of the Asian crisis. But its financial authorities recognize that the situation could worsen. Measures to support corporations have been introduced and there has been an intensification of efforts to make the island a major financial centre, including market liberalization and an encouragement of banking consolidation. Gill Baker reports.

Slovenian banks are among the most protected in Europe. But a new banking law and reforms linked to the country's accession to the EU will shake them up. Charles Olivier reports.

The crises, first in east Asia, then on the doorstep in Russia, have side-swiped Central Asia but the downturn is not without hope. Kazakhstan is pressing on with reforms despite the slide in commodity prices, and opening up to foreign banks. Uzbekistan may be stuck in a time warp, but Azerbaijan shows new signs of offering value to foreign banks and investors. By Suzanne Miller.

Latin America 100: The region's biggest banks

You can't keep a good man down. So Andre Lee has set up his own firm, 01 Inc, in Seoul. Lee, who ran failed investment bank Peregrine's fixed-income side, is credited with single-handedly created the Asian debt markets. When Asia melted down, as did Lee's bonds and Peregrine, he looked much less visionary .

Ecuador has two well-organized exchanges, a privatization program, and an open market. So where are the investors? Anywhere but in emerging markets, since Russia's problems. Isabel Vallejo reports

When Germany's federal election takes place on September 27 the miracle of chancellor Helmut Kohl's winning in 1994 against all predictions won't be repeated. There are good reasons why. Germany's economy may be picking up, but domestic demand recovery is tentative. During 1997 the rebound was export-led, and although the domestic investment cycle is turning up, household spending remains flat at best. At 10.7% unemployment is still too high and much of the recent job creation has come from government-sponsored schemes, especially in the eastern Länder where Kohl's ruling Christian Democrats (CDU) remain deeply unpopular.

Last National Bank of Boot Hill, Moorgate, London EC2

Latin America 100: The region's biggest banks