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| Latin America: Winners & Losers published on Wed, 3 Dec 2008 16:19:00 GMT |
| BY CHRONICLE STAFFWith the financial uncertainty growing every day, it's hard to make any predictions about the future. But based on the information we have available today, it's clear that some countries will fare better than others. Brazil and Mexico, the region's two largest economies, are both being hit by the crisis, albeit by different degrees.Mexico, Venezuela, Argentina and Ecuador are among the big losers, while Central America and the Dominican Republic also will be negatively affected. On the other end are countries like Peru and Panama, which will fare better. In between are countries like Brazil, Chile and Colombia. |
| Peru: Apex during APEC published on Wed, 3 Dec 2008 12:09:00 GMT |
| BY WALTER T. MOLANOAs the 21 member nations of the Pacific Rim descended on Lima for 2008 APEC, the city was a shining oasis of prosperity. The dusty port of Callao was a hotbed of activity, as vessels discharged containers full of consumer goods while loading commodity-related products destined for foreign destinations. Peru’s unwavering commitment to structural reforms and macroeconomic discipline put it at the apex of Latin America and the emerging markets. This is one of the reasons why the leadership of the Asia-Pacific Economic Cooperation (APEC) decided to hold its annual summit in Peru. A fleet of presidential 747s adorned the runways of Jorge Chavez international airport, as entourages brought forth a slew of new trade agreements. CHINA, JAPAN, USAChinese President Hu Jintao announced the culmination of a new trade pact, which will allow 4,700 Peruvian products to enter China free of tariffs. Peruvian exports to China surged 32.8 percent y/y during the first nine months of ... |
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| Strong Growth for eLandia published on Mon, 17 Nov 2008 17:56:00 GMT |
| BY JOACHIM BAMRUDPete Pizarro, Chairman and CEO of IT and telecom company eLandia International, is bullish on Latin America despite the U.S. crisis and its growing effect on the region. Not only did his company present record third-quarter results last week (largely because of new business in Latin America), but it's also uniquely positioned for further strong growth, he argues. "From a business perspective, it's a perfect storm of opportunities," Pizarro says. First, eLandia is awash in money aimed at investing in Latin America just as cash has become more important than ever, with credit tightening up as a result of the global uncertainty. Earlier this year, it raised $130 million in capital. "That was raised to do acquisitions and aggressive organic growth," he says.CASH IS KINGMeanwhile, as many investors retrench and financing grows more difficult, companies that can pay cash for acquisitions have a competitive advantage. "We have a market where cash is king [and] we have a s... |
| Venezuela Boom Slows Down published on Mon, 10 Nov 2008 22:06:00 GMT |
| BY CHRONICLE STAFF Thanks to falling oil prices, Venezuela's economy is heading for a major slowdown after five years of strong growth. Next year, Venezuela's GDP will likely expand by a mere 2.0 percent, the International Monetary Fund predicts. That compares with 6.0 percent this year and an average of 10.7 percent in the 2004-08 period. The results next year will be Latin America's second-worst after Mexico and Venezuela's worst performance since 2003."In an economy so heavily dependent on oil income -- both from a fiscal and external accounts standpoint -- a decline in oil prices is very bad news," says Alberto Ramos, the senior Latin America economist at U.S. investment bank Goldman Sachs. "Even more so when there are already very large imbalances brewing in the economy and the regime has very little policy flexibility."DEVALUATION?All this on top of the fact that a devaluation is in the pipeline, likely sooner rather than later, he adds. The national currency, the Bolivar, has... |
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