Poor harvest: but Banco Galicia, a leader in the agricultural sector, closed 2009 with a $301.5m profitDespite the twin threats of the worst drought to strike South America in decades and the continuing fallout from global financial crisis, Argentina's lenders have survived relatively unscathed. And now a debt swap offer could allow the country to access international credit markets. Writer Silvia Pavoni
Protection plan: regulators are keen to prevent another blow-up on the scale of the Lehman Brothers, which some believe to have been triggered by derivativesRegulators are intent on reforming the role that derivatives play in bankruptcies, with the aim of preventing a future AIG or Lehman Brothers. But some are warning that, without a direct ban of these controversial financial instruments, this will be no easy task. Writer Suzanne Miller
Luis Arce, Bolivia's finance ministerSince president Evo Morales took office in Bolivia in 2006, political stability has gone hand-in-hand with a period of robust economic growth. The country's finance minister shares with The Banker how Bolivia has managed to protect itself from the worst of the global economic crisis and spells out plans for future expansion. Writer Jane Monahan
Cleaning up: the FDIC plans to bring a more grassroots style to the US banking industryThe Federal Deposit Insurance Corporation, under the tutelage of chairwoman Sheila Bair, has been spearheading a banking clean-up on a massive scale. And while the sector faces much uncertainty, one thing is sure: the US banking landscape is set to change for good. Writer Suzanne Miller
Steaming on: Panama's good economic prospects, aided by the expansion of its canal, have seen the country's banks thriveAll but three of the Top 75 central American banks remained in profit last year according to The Banker's ranking, with Panama recording stand-out results. Writer Silvia Pavoni
Canada, rarely observed in the international bond markets, sparked intense interest at the beginning of the year with its debut euro-denominated 10-year bond issue. Will there be more sightings to come, or is this just a one-time foray? Writer Edward Russell-Walling
Which way now? Puerto Rico's banking district
Puerto Rico's dependence on the US meant that the subprime crisis hit its banking sector particularly hard. A period of consolidation is now expected, but who the winners will be - the big domestic players or foreign-owned entities - remains to be seen. Writer Jane Monahan in Puerto Rico
Brazil's past battles with hyperinflation have left the legacy of a payment system whose efficiency assists its economy's stability to such an extent that it has garnered a host of global admirers. Writer John Rumsey
Henrique Meirelles, Central bank governor of Brazil
Brazil's central bank governor reflects on how the country managed to keep the worst of the financial crisis at bay and what further pitfalls lie ahead on its road to full recovery. Writer Charlie Corbett
Eugene Ludwig, Founder and CEO of Promontory Financial Group
Capital should simply be one of the barons of good risk management - not the king.
Heavy-handed regulatory reform in response to the financial crisis runs the risk of damaging the economy further. A measured response that accepts a certain level of risk makes good fiscal sense and will be a more sensible outcome.
Money talks: the state bank of Brazil's Federal District, which contains capital city Brasilia, has been in buy-out negotiations with Banco do BrasilThe economic downturn has temporarily alleviated the pressure on Brazil's regional banks. They are using that breathing space to seek efficiencies, including cost cutting, improving customer service and seeking capital from new sources. They need to move fast: as national banks recover, acquisition of regional banks will once again become an attractive expansion strategy. Writer John Rumsey
Upward steer: Panama's canal expansion project will keep its economy moving in the right directionWith the exception of Panama, whose macroeconomy is cushioned by its canal expansion plan, GDP growth forecasts for the small economies of central America are negative this year as trade and investment from the US slows. Writer Jane Monahan
Key country: Brazil is the most important market in Latin America for HSBCHSBC's spectacular expansion in Latin America over the past 10 years has certainly paid dividends, with the group now the fifth largest in the region. Head of HSBC Latin America, Emilson Alonso, offers his views on the business and its strategy for the future. Writer Jane Monahan
Santiago: centre of one of the most dynamic economies in South AmericaWith one of the most liberalised economies in the world, prudent policies, and trading links with the Far East, Chile is poised to emerge from the downturn as a Latin American front-runner. Writer Jason Mitchell
Although the pre-tax profits of Latin American banks have slipped, Tier 1 capital figures have grown by 14% and Brazil has firmly held onto its regional dominance. Writer Silvia Pavoni
Although Mexico's exports and remittances are in decline, its oil production and tourism sectors weakened and unemployment rising, the country's banking industry entered the global crisis in good shape and may be able to provide the credit needed to reactivate the economy. Writer Jane Monahan
Agustin Carstens, Mexico's finance ministerMexico's finance minister discusses the country's close relationship with the US, and whether the banking sector should play a bigger role in reactivating Mexico's stuttering economy. Writer Jane Monahan
State-owned institution Banco do Brasil has dethroned Itaú-Unibanco to once again become the country's biggest bank. Now there is a debate about whether such rapid growth is sustainable. Writer John Rumsey
Andrés Velasco, Chilean finance ministerChile's prudent fiscal policies have enabled it to weather the global recession well. The county's finance minister explains the thinking behind them. Writer Jason Mitchell
Good neighbours: Colombian president Alvaro Uribe (left) shakes hands with Peruvian president Alan GarciaWhile the Western world has been struggling through the global financial crisis, Latin America has shown a remarkable resilience to the upheaval. Two countries in particular - Colombia and Peru - are showing particularly impressive growth, and look set to become important emerging economies. Writer Jason Mitchell
Ralph Gonsalves, St Vincent and Grenadines prime ministerThe currency union of the Organisation of East Caribbean States is eyeing additional members and full economic union status. The prime minister of St Vincent and the Grenadines ponders the future of the OECS and its impact on the wider Caricom group of countries. Writer Brian Caplen
At their annual meeting last month, the Caricom heads of state struggled to make headway on trade and immigration restrictions, although one issue which was met with unanimity was climate change. Writer Brian Caplen
Bharrat Jagdeo, Guyana's presidentGuyana's president laments the lack of consideration for smaller countries among the G-20 nations, and calls for a change in the relationship between international financial institutions and countries such as his. Writer Brian Caplen
Natural resource: Guyana's rich forests may be fruitful in boosting the country's economyThe Guyanese government is looking to the small South American country's vast, untouched rainforests as a means of promoting eco-friendly development. Writer Brian Caplen
The US has been at the heart of the financial crisis. Of total losses of $1040.7bn in the financial sector worldwide, the US accounts for more than half, at $582.6bn. Of the top 10 worst losses during the crisis, six of them are from the US. Between them, banks in the top 10 of the North American ranking have lost a staggering $473.66bn since the crisis began. In 2008, the 152 US banks present in the Top 1000 made a pre-tax loss $91,078m.
With the panic subsiding fast, Brazil's equity markets have staged an astonishing turnaround allowing canny investment banks to find their feet in the country again. Writer John Rumsey
Press conference on co-operation between the Latin American development banks (l to r): Enrique Garcia, CAF president; Luis Alberto Moreno, IDB president; Jyrki Koskelo, IFC vice-president for Europe, central Asia, Latin America and the Caribbean and global financial markets; and Pamela Cox, World Bank vice-president for Latin America and the Caribbean
The slump in capital markets activity and a decline in cash flow has pushed Latin America's multilateral development banks to prominence as the biggest and most robust lenders in some of the region's principal credit markets. Writer Jane Monahan in Washington, DC
Luciano Coutinho, BNDES president
National development banks in Latin America such as Brazil's BNDES and Mexico's Nafinsa are playing an important role in keeping funds flowing in the region, but there is a danger of them being over-stretched. Writer Jane Monahan
Strict regulation, high capital and reserve requirements, and low levels of debt mean Brazil's banks are flourishing and in a good position to capitalise if their US and European competitors should pull back. Writer Brian Caplen
Cover stars: Brazilian bankers are still feted rather than reviled, unlike their colleagues in the US and Europe
Camden Fine, president of the Independent
Community Bankers of America
In the US’s multi-layered banking sector, the credit crisis is being felt on all levels. But as the Treasury launches wave after wave of initiatives to protect the larger banks, and the smaller community banks stand firm due to their low exposure to subprime, it is the medium-sized banks that face the greatest threat. Writer Jane Monahan in Washington, DC.
Oil tycoon T Boone Pickens is investing billions in building the world’s largest wind farm in Texas, which in turn will free up natural gas for transportation and reduce US reliance on oil. Interview by Karen E Thuermer.
Luis Alberto Moreno, Inter-American Development Bank (IDB)
Since becoming president of the Inter-American Development Bank in October 2005, Luis Alberto Moreno has appointed new managers, updated the bank’s lending policies and restructured the institution. He talks to Jane Monahan.
John Rumsey reports on a new generation of firms in the Latin Americas that are breaking free from old traditions.
Latin American companies are snubbing local acquisitions in favour of far-flung deals but SMEs will find it hard to play, writes John Rumsey in São Paulo.
Jason Mitchell reports from Buenos Aires on moves to set up a South American development bank, which are being led by Venezuelan president Hugo Chávez.
After the giddy levels of flotation activity seen in Brazil in recent years, even usually optimistic bankers are not anticipating much new IPO business before the second half of 2009, at the earliest. Writer John Rumsey.
As US regulators and government work together to increase liquidity and help stabilise the economy, mixed opinions abound on just how much public money should be used to alleviate the problems stemming from the country’s banking sector. Writer Jane Monahan.
In response to rising inflation, Guatemala has adjusted its interest rates eight times in the past two years, and is working carefully to co-ordinate its monetary and fiscal policies, explains the president of Banco de Guatemala. Writer John Rumsey.
The Guatemalan economy has big potential, particularly in fuel and food production. The country’s minister of finance talks about his fiscal reform programme and intent to create a sustainable tax base. Writer John Rumsey.
Panama has been capitalising on its prime location between the Americas to attract foreign companies, and has been ramping up its infrastructure to support growth. So how will it be affected by the global slowdown? Writer John Rumsey.
Just as the banking industry’s big names turned their attention towards Guatemala, the credit crisis struck, plunging the country’s modernisation plans into jeopardy. Writer John Rumsey.
Almir Guilherme Barbassa, Petrobras CFO
The prospect of government meddling in the Tupi offshore fields has caused much alarm – but not for Petrobras, says CFO Almir Guilherme Barbassa. Writer Courtney Fingar.
Barack Obama
Dan Tarullo explains the impact an Obama presidency would have on foreign investment. Writer Lara Williams.
John McCain
Douglas Holtz-Eakin tells how a McCain presidency would react to foreign bids for US firms. Writer Courtney Fingar.
Cesar Prado, Colombia’s financial regulator, Superintendencia Financiera
Stable government is creating an atmosphere of confidence in Colombia. Now it needs its free trade agreement with the US ratified. Writer Jane Monahan.
Óscar IvÁn Zuluaga, Colombia’s finance minister
Óscar Iván Zuluaga has overseen the end of an economic boom and the onset of a period of uncertainty since becoming Colombia’s finance minister in February 2007. The Banker interviewed him at the Finance Ministry in Bogota. Writer Jane Monahan.
Given the lessons learnt during the Tequila Crisis of the mid-1990s, analysts and bankers are positive about Mexico’s ability to survive, and even thrive, during current worldwide economic turbulence. Writer Theresa Braine.
Research shows that Trinidad & Tobago’s top four banks represent a tropical haven from the credit crisis, thanks to its strong growth and concentrated commercial banking market. Writer Keith Collister.
Jorge Sant’Anna, Cetip
After the merger of Brazil’s stock and derivatives exchanges, the country’s range of derivatives is fast expanding. John Rumsey reports.
Dionisio Borda, Paraguay’s new finance minister
Paraguay’s new finance minister tells Hugh O’Shaughnessy why the country cannot make the most of its natural assets.
