Banking: The week in 10 stories

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Friday, January 11, 2019

BRAZIL

The new administration of Brazilian state-run bank Caixa Econômica Federal has promised to focus its attention on the most profitable areas of activity, which could seriously undermine financing for water and sanitation projects across the nation.

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Brazil's President Jair Bolsonaro will leverage social media to drum up public support for his pension reform proposal and succeed where Michel Temer failed by likely signing it into law in the first half of the year. That's according to Mario Mesquita, chief economist of Brazilian financial services giant Itaú Unibanco.

MEXICO

Mexico's financial leadership has unveiled an eight-point, public-private initiative to strengthen the financial sector.

ARGENTINA

Argentina's second fully digital bank is up and running, website iProUp reported on Thursday.

Argentina has introduced a new tax on the country's various types of cooperatives.

CHILE

Chilean state lender BancoEstado is introducing EMV chip-equipped CuentaRUT debit cards, among other changes.

After nearly two years of negotiations, Chilean consumer watchdog agency Sernac has achieved an agreement with seven banking institutions whereby the banks assume greater responsibility in instances of fraud.

PERU

Since winning massive support in a referendum last month, President Martín Vizcarra has promulgated political and legal reforms aimed at combatting corruption.

VENEZUELA

Beset by broad international condemnation, Nicolás Maduro was sworn in Thursday for his second term as Venezuela's president until 2025, while the nation slides ever lower into a political and economic abyss.

REGIONAL

Moody's recast its sovereign credit outlook for Latin America and the Caribbean (LAC) in a new report suggesting moderately higher GDP growth this year, with possible policy shifts and spillover effects from last year's elections posing the most significant risk to stability in 2019.