Although the borrower is evidently making progress, investors must be prepared for setbacks given the enormous economic and political challenges still to overcome.

Risk not commensurate with project debt returns; investment crucial to fill gap as economy normalizes.

'Abundant' potential liquidity from international insurance companies and pension funds; with drop in rates, local capital markets financing is now cheaper than BNDES.

Welcome to Euromoney's new publication dedicated to covering the development of the region’s banks and financial markets.

Euromoney Latin America attempts to look through the gloss of momentum and short-term results to answer the question long-term investors ask: which banks have the best blend of performance, management expertise and fundamental strength to outperform?

The country’s bankers are frustrated: the system is sound, their banks are generally well run, and yet they are among the worst performers in Latin America.

Bankers say the battle to hit mandated lending targets has created a scramble for borrowers in Bolivia.

The country’s biggest banks have kept profits up by keeping banking simple and benefiting from enviable net interest margins.

Bankers and investors are increasingly confident that the country’s next president will adopt a programme of fiscal reforms, even though no leading candidates are standing on that platform.

As US rate rises become a reality, Latin American markets face another home truth: have they actually become a standalone asset class, or is a sell-off inevitable?

Latin American equities have become unfashionable as EM investors focus on thriving tech companies elsewhere.

The outlook for both Credit Suisse and Brazil is better than it has been in years, and CEO José Olympio Pereira has his eyes firmly focused on the opportunities coming his way.

The country’s gradualist approach to adjusting its fiscal deficit was always balanced on a knife-edge.

Paraguay’s bright young things are trying to transform the country’s economy.

Low levels of credit penetration provide huge growth opportunity; other positive factors include sector consolidation and regulatory liberalization.

Pension reform in Brazil is going nowhere.

Many investors are misreading the risks in Mexico.

‘Natural extension’ of bank’s credit strategy; reg capital deals still interesting to Latam banks.

NYSE too strong a lure for tech companies; Latin America needs ‘IPO catch-up’.

Sharp reduction in Selic boosted 2017 profitability but is a challenge in 2018; ‘soft’ recovery in credit demand might not offset lower margins.

The political opponents of former president Lula look to have ruled him out of the next election, but this risks an even more volatile outcome.