IDB to Latin America:
Get your fiscal records straight
Latin America and the Caribbean face another challenging year and “fairly mediocre growth rates”, says Santiago Levy, vice president of the InterAmerican Development Bank (IDB). The IDB has forecast that expansion would be between 1 and 1.2 percent this year, compared to 5 percent before the global financial crisis. In addition, the IDB has warned that the region is entering a “risk area” as it produced a fiscal primary deficit of 1.1 percent last year without being able to boost economic growth. Latin Trade spoke with Santiago Levy and José Juan Ruiz, respectively vice president for knowledge and chief economist of the IDB, to get their insight about the region’s fiscal situation. Latin Trade reports.
Ficohsa snaps up Citigroup’s businesses in Nicaragua
Grupo Financiero Ficohsa, a regional financial group of Honduran capital and headquartered in Panama, has agreed to acquire 100 percent of the shares of Banco Citibank de Nicaragua and Cititarjetas de Nicaragua. “This acquisition is another important step in our expansion strategy, which further strengthens our position as one of Central America’s top 10 financial groups. It also allows us to enter a country with great potential for growth, with a robust and well-positioned operation,” said Camilo Atala, president of Grupo Financiero Ficohsa. LatinTrade reports.
Latin America’s Top M&As in 2014
Subscribe to latin trade magazine
Click here to begin a subscription for Latin Trade magazine, available both in print and online.
Subscribe to lt.com
Click here to begin an online subscription to LT.com, with its extensive ranking, indices, and market intelligence on Latin America.
Subscribe to free Newsletter
Subscribe here to our free newsletter – getting the latest business headlines from Latin America in your inbox every day.