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BUSINESS
January 21, 1997
Eduardo M. Cabrera, a Wall Street analyst for 10 years, joined Merrill Lynch & Co. in 1992 and became its chief Latin America stock strategist two years later. He is a University of Florida engineering graduate with a Harvard MBA and has lived in Cuba, Mexico, Venezuela and Spain. In a recent conversation with Times staff writer Thomas S. Mulligan in New York, Cabrera made the case for continued strength in 1997 in Latin American stocks.
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BUSINESS
September 11, 2001 | CHRIS KRAUL, TIMES STAFF WRITER
Wall Street tremors have shaken Latin America's markets, proving once again that the increasing integration of the hemisphere cuts both ways. As the U.S. economy has continued to falter, much of Latin America has been hurt because markets are to some degree or another dependent on the United States. Falling economies here have hurt trade with the U.S. But the amount of pain depends on the size of the markets.
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BUSINESS
July 11, 2001 | CHRIS KRAUL, TIMES STAFF WRITER
Stocks in Argentina slid to their lowest level since 1999 on Tuesday amid a new wave of doubts that the country can solve its economic ills. The plunge also drove down stocks and currencies in other Latin American countries. Argentina's main stock index, the Merval, fell 6.1% after the government was forced to pay investors more than 14% interest on 91-day treasury bills to help refinance $850 million in dollar-denominated debt.
BUSINESS
August 24, 2001 | CHRIS KRAUL, TIMES STAFF WRITER
Long-term investment by foreign companies in Latin America plummeted 21% last year and is likely to slide 10% or more this year because of the global slowdown and worries over the region's economic health, according to a new report. In its annual investment survey, the United Nations Economic Commission for Latin America and the Caribbean, or ECLAC, found a waning of the mega-deals that highlighted 1999.
CALIFORNIA | LOCAL
November 9, 1989 | JONATHAN POWER, Jonathan Power writes from London for the International Herald Tribune.
As the voters of Brazil, Latin America's largest country, prepare to elect a new president, one is struck by the deep pessimism widely prevalent in the country, as elsewhere on the continent, about the ability of politicians to brake the present headlong rush into economic catastrophe.
BUSINESS
November 19, 1998 | From Reuters
Brazil's economy shrank in the third quarter, reports said Wednesday, marking what is widely seen as the beginning of a severe recession for Latin America's largest economy. Hurt by sky-high interest rates and weak demand, gross domestic product fell 1.5% in the quarter, the biggest drop since the 1995 Mexican currency crisis, the National Statistics Institute said. GDP is the broadest measure of a nation's economy. The institute said unemployment jumped to a record 7.
BUSINESS
March 27, 2000 | CHRIS KRAUL, TIMES STAFF WRITER
Latin America's nascent economic recovery is overly dependent on foreign direct investment, leaving it vulnerable to a sudden change in investor sentiment, some economist fear, as the region braces for another avalanche of overseas funds that are expected this year to equal or surpass last year's record pace. Latin America's economy is expected to grow by 3.5% or better this year after a stagnant 1999.
BUSINESS
September 14, 1998 | From Bloomberg Business News
The International Monetary Fund called on Congress to give it the money to help stem the slide of Latin American markets if necessary, warning that the U.S. can't turn away from its leadership of the world financial system. "There are decisions of enormous importance being made now about the role that the United States plans to take in the global economic system it created in 1945," Stanley Fischer, the IMF's first deputy managing director, said in remarks made public Sunday.
NEWS
September 15, 1998 | CHRIS KRAUL, TIMES STAFF WRITER
World economic leaders are nearing a consensus that Latin America, especially Brazil, must be saved from an Asian-style economic collapse. That consensus crystallized Monday as the world community, led by President Clinton, made the survival of emerging markets a priority. The major industrialized nations seem ready to draw a line in the sand with Brazil out of fear that the collapse of Latin America's largest economy would be an enormous setback in the global shift toward free-market economies.
NEWS
October 29, 1998 | SEBASTIAN ROTELLA, TIMES STAFF WRITER
The Brazilian government announced a long-awaited $23.5-billion austerity package Wednesday, a high-stakes counterattack against a crisis that could damage economies across the Americas. Unveiled after weeks of anticipation and negotiation, the plan features about $11 billion worth of tax increases and about $12.5 billion in budget cuts and major fiscal reforms such as a restructuring of the costly social security system, according to Finance Minister Pedro Malan.
BUSINESS
August 18, 2001 | Bloomberg News, Associated Press
International markets followed Wall Street lower Friday, and the damage was particularly acute in Latin America. Argentina's Merval index fell 20.24 points, or 6.1%, to 314.50--its biggest one-day slide in more than a month--on concern an aid package from the International Monetary Fund may be delayed. Mexico's Bolsa index fell 226.69 points, or 3.5%, to 6,218.46, and Brazil's Bovespa index lost 465.26 points, or 3.4%, to 13,044.21 as 55 of the index's 56 stocks dropped.
BUSINESS
July 18, 2001 | CHRIS KRAUL, TIMES STAFF WRITER
Argentines, fearful that the government might abandon their currency's peg to the dollar, have pulled $2.6 billion out of the banking system, figures released Tuesday showed. The data raise concerns over a possible exodus of capital if the withdrawals are not halted. The statistics cover withdrawals during the five banking days ended Thursday. Because of delays in reporting, figures for Friday, which was considered another difficult day during the current crisis, were due to be released today.
NEWS
July 14, 2001 | From Associated Press
At birth, each child born in Latin America owes a symbolic $1,550 in foreign debt. Nearly 50 out of every 1,000 Latin American children will die before their 6th birthday. Children who manage to survive their first five years probably won't complete elementary school. They likely be forced to work on the streets--or beg--before becoming a teenager. They'll live in a slum without clean water and be malnourished.
BUSINESS
July 13, 2001 | CHRIS KRAUL, TIMES STAFF WRITER
This week's Latin American market sell-off turned into a headlong rush to the exits Thursday as investors dumped stocks, bonds and currencies, fearful that Argentina lacked the political will and financial resources to avoid financial disaster. Fiel, a think tank affiliated with the government, estimated depositors pulled $1 billion in pesos from accounts on Thursday in anticipation that Argentina might devalue the currency, breaking the 1-to-1 peg to the U.S.
BUSINESS
July 12, 2001 | CHRIS KRAUL, TIMES STAFF WRITER
Latin American currencies and bonds dropped Wednesday as contagion from Argentina's deepening financial crisis spread. Argentina's stocks were whipsawed, with the Merval exchange average plummeting 7.1% before ending the day down 2.2%. Shaken by a treasury auction Tuesday in which Argentina was forced to sell short-term notes at exorbitant rates to refinance its debt, investors bailed on bonds across the hemisphere.
BUSINESS
July 11, 2001 | CHRIS KRAUL, TIMES STAFF WRITER
Stocks in Argentina slid to their lowest level since 1999 on Tuesday amid a new wave of doubts that the country can solve its economic ills. The plunge also drove down stocks and currencies in other Latin American countries. Argentina's main stock index, the Merval, fell 6.1% after the government was forced to pay investors more than 14% interest on 91-day treasury bills to help refinance $850 million in dollar-denominated debt.
BUSINESS
January 11, 1993 | WILLIAM R. LONG, TIMES STAFF WRITER
Inflation is down. Investment is up. Exports are growing. And Latin America is well on its way to making the 1990s a decade of solid economic expansion. Leading the charge is Chile, where a booming economy grew by an estimated 9.5% in 1992. Five other countries achieved vigorous growth rates of 6% to 8%. The big disappointment was Brazil, where Latin America's largest economy shrank last year amid an unfavorable climate of political uncertainty and inflation of more than 1,000% a year.
NEWS
December 29, 1990 | MARJORIE MILLER and WILLIAM R. LONG, TIMES STAFF WRITERS
The traffic light turns red on the elegant Paseo de la Reforma at the Angel of Independence Monument. Scores of automobiles brake to a halt, and 21-year-old Juan Garcia leads an army of young men into the street. Weaving his way among the idling cars, Garcia has 75 seconds to sell an oversize, overstuffed toy bulldog before the light changes to green.
BUSINESS
June 20, 2001 | CHRIS KRAUL, TIMES STAFF WRITER
Latin American stocks continued to fall Tuesday as officials pushed to defend a new policy on Argentine exchange rates that many feared could lead to a devaluation. After a decade of pegging its currency, the peso, to the U.S. dollar on a one-to-one basis, Argentina announced late Friday that it was setting up a separate exchange for trade transactions, making imports 7% more expensive.
BUSINESS
June 7, 2001 | JOSEPH MENN, TIMES STAFF WRITER
Hewlett-Packard Co. warned that slumping economies in Asia and Latin America are hurting the company's computer and printer sales even more than executives forecast just three weeks ago. The Palo Alto tech giant told securities analysts Wednesday that it was "more cautious" about fiscal third-quarter revenue slipping no more than 5% from a year earlier.
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