Author Archives: robdwyerbrazil

Argentina leaves markets worried about ability to grow

“It’s like chemotherapy. If you have it all at once, you are going to kill the patient. You need to find a dose that won’t kill the patient.” The patient being discussed by a senior capital markets banker in New … Continue reading

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How the markets now run Brazil …

… with or without Henrique Meirelles. Brazil’s democracy has added a new feature in the last few years: people can vote for a president, but the markets retain the right to deploy an ‘impeachment put’ if that president is messing … Continue reading

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Twisting Mexican risk

According to bankers and analysts in New York, the first questions that corporate clients and investors always ask about Mexico relate to Nafta. Questions about the political risk from this year’s election are secondary, almost an afterthought. However, this is getting … Continue reading

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Brazil’s Stone looks to follow PagSeguro in snubbing

The success of Brazil’s PagSeguro’s recent IPO on the NYSE has led its competitor, Stone, to draw up plans to launch on the US stock exchange this year, according to market sources. PagSeguro, which provides online and in-store payment services, raised … Continue reading

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Euromoney’s review of global banks: Itau

The optimal way to drive through a sharp turn in the road is to slow down before you reach it, before accelerating out from the mid-point of the curve. In much the same way, Itaú Unibanco has steered its way … Continue reading

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Euromoney’s review of global banks: Bradesco

This was the year that Bradesco absorbed HSBC’s Brazilian bank. The deal, valued at R$16 billion ($4.8 billion), added five million current account clients, around 22,000 employees, 851 branches and 448 ‘mini-branches’. However, the bank said it wanted to retain … Continue reading

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Environment: In defence of economic ideology

Many Euromoney readers were alive in more ideological times. They will remember the collapse of the socialist command economy model and the fall of the Berlin wall. They will also remember Margaret Thatcher’s aggressive application of liberal economic forces and … Continue reading

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Argentina’s delicate balancing

President Mauricio Macri’s economic inheritance was toxic; his policy of gradual fiscal realignment looks like it will lead to success in this year’s crucial mid-term elections, but the country desperately needs investment to maintain the transition. Let me answer in … Continue reading

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BBVA tempted to sell its Chilean retail bank

BBVA’s decision to open talks about selling its Chilean retail bank to Scotiabank could lead to a notable retrenchment of its Latin American operations. BBVA has a large presence in Latin America, with significant banks in Argentina, Colombia, Mexico, Peru … Continue reading

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Costa Rica’s ambitious commitment to reducing carbon emissions places it at the forefront of the fight against climate change. But its politicians worry that, with financial aid being focused elsewhere, it could effectively be punished for its early adopter status. … Continue reading

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