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LatAm Media Navel Gaze: January 12, 2018

  • On Tuesday, Argentina’s central bank cut its policy rate to 28% from 28.75%, two weeks after relaxing its 2018 inflation target. The bank’s first rate cut in 14 months came after a December 28 news conference announcing an official inflation target for this year of 15%, up from the bank’s previous target range of 8% to 12%.
  • On Wednesday, Brazilian digital payments company PagSeguro Digital Ltd. launched an estimated $1.75 billion initial public offering in the US, potentially setting up the new year’s second billion-dollar-plus IPO.
  • Earlier this week, Chile’s Ministry of Finance reported that it applied for a line of issuance of debt securities with the US Securities and Exchange Commission (SEC) for US $3 billion. The balance would allow Chile to issue debt for the next three years for a total of US $4.6 billion in international markets.
  • Peru’s executive director of Proinversión, Alberto Ñecco, highlighted the country’s plan to award 50 projects for more than US $ 7.6 billion for 2019 – 2021. This amount includes 11 energy projects, 7 in the health sector, 13 in education, five in sanitation, 2 in irrigation and 12 in transportation, tourism and real estate.
  • The Venezuelan government announced it will buy Banesco , the country's largest private bank by assets. This action would raise state control of the oil nation's financial system. 

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