Doing Business in Latin America. - an Underwriter s personal view

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Doing Business in Latin America. - an Underwriter s personal view"

Transcription

1 Doing Business in Latin America - an Underwriter s personal view Chartis 2012

2 Ease of Doing Business 2012 World Bank Ranking Economy 2012 Ranking Ease of Doing Business Singapore 1 Chile 39 Peru 41 Colombia 42 Mexico 53 Panama 61 Uruguay 90 Guatemala 97 Paraguay 102 Dominican Republic 108 Argentina 113 Brazil 126 Honduras 128 Ecuador 130 Bolivia 153 Venezuela 177 Chad 183

3 Latin America - A PERSONAL VIEW of Energy Onshore Property Insurance From 1979 to 2012 DISCLAIMER The Views expressed are SOLELY the Personal Opinions of Dorian Grey

4 This image cannot currently be displayed. Latin America in Energy Insurance Insurance and / or Reinsurance monopolies in most countries Energy infrastructure generally State-Owned and operated, including Oil Refineries, Gas Processing, Petrochemicals Marine Terminals, Ports Water, Sewerage and Waste Management Dams, Power Plants Electricity Transmission & Distribution Grid Pipelines (Water, Gas, Oil)

5 This image cannot currently be displayed. Latin America in Energy Insurance Insurance and Reinsurance completely or largely privatized throughout Latin America Energy infrastructure is generally privately owned and operated in all countries (with a few exceptions). Oil Refineries, Gas Processing, Petrochemicals Marine Terminals, Ports Water, Sewerage and Waste Management Dams, Power Plants Electricity Transmission & Distribution Grid Pipelines (Water, Gas, Oil)

6 Ease of Doing Business 2012 Insurance Index* *The Opinions expressed expressed in this Table are SOLELY in this Dorian Table Grey s are PERSONAL SOLELY Views Dorian G Regulations (Policy Forms, Premium Reserves, etc.) Legal Environment / Civil Law compared to Common Law Effect of underlying laws and regulations on Policy wordings Law & Jurisdiction / Arbitration Local Market Capacity & Practice Complexity & Transparency Access for Foreign Insurance & Reinsurance Companies Remittance of Reinsurance Premiums Personal Security (e.g., for Loss Control Surveys) Logistics

7 Ease of Doing Business 2012 Insurance Index* *The Opinions expressed in this Table are SOLELY Dorian Grey s PERSONAL Views Country Ease of Doing Business : A Personal Index 1= Easy 10 = Complex Chile 2 Peru 3 Colombia 4 Panama 2 Uruguay 5 Guatemala 7 Paraguay 8 Dominican Republic 3 Argentina 7 Brazil 4 Honduras 6 Ecuador 8 Bolivia 7 Venezuela 7 Mexico 6

8 Latin America 1979 the Insurance Industry A time of Tariff Rates and regulated Policy Forms Minimal transfer of insurance know-how Minimal Loss Control Survey / Engineering work Low Regional & Local capacity / expertise A time before Personal Computers (& word-processing) The Internet and Mobile phones

9 Latin America 2012 the Insurance Industry No Premium tariffs Generally unregulated policy wordings Knowledgable Insurance and Reinsurance buyers Major emphasis on Loss Control Engineering A high degree of knowledge transfer Risk Management well developed Instant Communications Large Regional and Local Capacity & Expertise

10 The Insured Local Companies Professional Risk Managers Local programs Multinational programs USA exposures Foreign Multinational Companies Local Programs Multinational programs 10

11 thank you Chartis 2012 Chartis is a world leading property-casualty and general insurance organization serving more than 40 million clients in over 160 countries and jurisdictions. With a 90-year history, one of the industry most extensive ranges of products and services, deep claims expertise and excellent financial strength, Chartis enables its commercial and personal insurance clients alike to manage virtually any risk with confidence. Chartis is the marketing name for the worldwide property-casualty and general insurance operations of Chartis Inc. For additional information, please visit our website at

Directors and Investors Perspectives

Directors and Investors Perspectives Public Company Accounting Oversight Board, December 8, 2017 Directors and Investors Perspectives The views expressed are my own personal views and do not reflect those of the PCAOB, members of the Board,

More information

THE LANDSCAPE OF MICROINSURANCE

THE LANDSCAPE OF MICROINSURANCE THE LANDSCAPE OF MICROINSURANCE in Latin America and the Caribbean A study by the Microinsurance Network and Munich Re Foundation Carried out and presented by Alex Proaño, A2F Consulting Outline Key Figures

More information

Quarterly Financial Report

Quarterly Financial Report Quarterly Financial Report June 30, 2017 Table of Contents I. Financial Statements 1 Balance Sheet Income Statements II. Main Financial Ratios 2 III. Details of Loan Portfolio 3 IV. Details of Paid-in

More information

Regional Situation on Implementation of ephyto COSAVE, OIRSA and CAN. IPPC Global Symposium on Implementation of ephyto

Regional Situation on Implementation of ephyto COSAVE, OIRSA and CAN. IPPC Global Symposium on Implementation of ephyto Regional Situation on Implementation of ephyto COSAVE, OIRSA and CAN IPPC Global Symposium on Implementation of ephyto 2015-11 Personal Presentation Full name: Walter Fabián Alessandrini IT Project Leader

More information

How does the increasing global uncertainty affect Latin American ratings?

How does the increasing global uncertainty affect Latin American ratings? How does the increasing global uncertainty affect Latin American ratings? Sebastián Briozzo Sovereign Ratings, Standard and Poor s Santiago de Chile, October 2011 Copyright (c) 2006 Standard & Poor s,

More information

LOSS ADJUSTING AND SURVEYING SERVICES

LOSS ADJUSTING AND SURVEYING SERVICES LOSS ADJUSTERS AND SURVEYORS LOSS ADJUSTING AND SURVEYING SERVICES WWW.YORKRSG.COM Services York International provides global coverage through our own network of offices and those of our partners. This

More information

Latin American Fund Manager Incentive Program ( FMIP ) Questions & Answers June 2018

Latin American Fund Manager Incentive Program ( FMIP ) Questions & Answers June 2018 Latin American Fund Manager Incentive Program ( FMIP ) Questions & Answers June 2018 1. What is the Latin American Fund Manager Incentive Program? The Latin American Fund Manager Incentive Program ( FMIP

More information

Indian Perspective. J. B. Chemicals & Pharmaceuticals Ltd. Dr Milind Joshi Global Regulatory Management 28 June 07

Indian Perspective. J. B. Chemicals & Pharmaceuticals Ltd. Dr Milind Joshi Global Regulatory Management 28 June 07 President Dr Milind Joshi Global Regulatory Management 28 June 07 Drug Regulatory Process Indian Perspective Latin America www.jbcpl.com Copyright 2005 J. B. Chemicals Pvt. Ltd. Regulation Product regulation

More information

Quarterly Financial Report

Quarterly Financial Report Quarterly Financial Report March 31, 2011 Table of Contents I. Financial Statements 1 Balance Sheet Income Statements II. Main Financial Ratios 2 III. Details of Loan Portfolio 3 IV. Details of Paidin

More information

Priorities for Productivity and Income (PPIs) Country Results

Priorities for Productivity and Income (PPIs) Country Results Priorities for Productivity and Income (PPIs) Country Results Bolivia Alejandro Izquierdo Jimena Llopis Umberto Muratori Jose Juan Ruiz 2015 Priorities for Productivity and Income (PPIs) Country Results

More information

LOSS ADJUSTING AND SURVEYING SERVICES

LOSS ADJUSTING AND SURVEYING SERVICES LOSS ADJUSTERS AND SURVEYORS LOSS ADJUSTING AND SURVEYING SERVICES WWW.YORKRSG.COM Company Overview York International was established following the acquisition of Axis in December 2012. This business

More information

Easy and Hard Redistribution: The Political Economy of Welfare States in Latin America

Easy and Hard Redistribution: The Political Economy of Welfare States in Latin America Easy and Hard Redistribution: The Political Economy of Welfare States in Latin America Alisha Holland Princeton University Ben Ross Schneider MIT % change in Gini 2000-10 Change in poverty 2000-10* Country

More information

GBTA BTI Outlook: Brasil

GBTA BTI Outlook: Brasil GBTA BTI Outlook: Brasil 2 nd Half - 2016 Agenda GBTA BTI Outlook Brazil: Overview Methodology GBTA BTI : Global Context Brazil Business Travel Spending Details 2 Overview In 2017, completed 8 th Global

More information

Taxes in Latin America and the Caribbean Situation and prospects

Taxes in Latin America and the Caribbean Situation and prospects Taxes in Latin America and the Caribbean Situation and prospects Alberto Barreix Principal Technical Leader on Fiscal Economist, IDB Angel Melguizo, Head for Latin America, OECD Development Centre Taxation

More information

Request for Information (RFI) for Life Insurance Benefits

Request for Information (RFI) for Life Insurance Benefits Request for Information (RFI) for Life Insurance Benefits I. INTRODUCTION The General Secretariat of the Organization of American States (hereinafter referred to as the GS/OAS ) is requesting information

More information

ALADI Initiatives on Non-Tariff Measures

ALADI Initiatives on Non-Tariff Measures ALADI Initiatives on Non-Tariff Measures Non-Tariff Measures Week Mandatory Trade Regulations and Voluntary Sustainability Standards 25-27 September 2017 General Secretariat of the ALADI sgaladi@aladi.org

More information

CASE STORY TEMPLATE PUBLIC SECTOR - 1 -

CASE STORY TEMPLATE PUBLIC SECTOR - 1 - - 1 - PAGE 4: (B.1) YOUR CASE STORY: TITLE AND DESCRIPTION Q1: TITLE OF CASE STORY (Maximum 50 words) A fast, secure track for international trade Q2: CASE STORY ABSTRACT (Maximum 150 words) Cross-border

More information

Overview of FSC-certified forests January January Maps of extend of FSC-certified forest globally and country specific

Overview of FSC-certified forests January January Maps of extend of FSC-certified forest globally and country specific Overview of FSCcertified forests January 2009 Maps of extend of FSCcertified forest globally and country specific Global certified forest area: 120.052.350 ha ( = 4,3%) + 11% Hectare FSCcertified forest

More information

Belize FedEx International Priority. FedEx International Economy 3

Belize FedEx International Priority. FedEx International Economy 3 SERVICES AND RATES FedEx International Solutions for your business Whether you are shipping documents to meet a deadline, saving money on a regular shipment or moving freight, FedEx offers a suite of transportation

More information

Is Export Promotion Effective in Latin America and the Caribbean?*

Is Export Promotion Effective in Latin America and the Caribbean?* Is Export Promotion Effective in Latin America and the Caribbean?* Christian Volpe Martincus Inter-American Development Bank 7 th World Conference of Trade Promotion Organizations The Hague October 13,

More information

Latin American Economic Outlook 2008

Latin American Economic Outlook 2008 Latin American Economic Outlook 28 Javier Santiso Director & Chief Development Economist OECD Development Centre Brasilia, 4th March 28 Banco Central do Brasil The OECD and Latin America: An emerging commitment

More information

Economic Development and the Americas

Economic Development and the Americas Economic Development and the Americas Chapter 9 McGraw-Hill/Irwin Copyright 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Learning Objectives LO1 LO2 LO3 LO4 LO5 LO6 LO7 LO8 The importance

More information

SPECIALISTS IN INTERNATIONAL LAW ON LATIN AMERICA AND THE CARIBBEAN, S.C.

SPECIALISTS IN INTERNATIONAL LAW ON LATIN AMERICA AND THE CARIBBEAN, S.C. SPECIALISTS IN INTERNATIONAL LAW ON LATIN AMERICA AND THE CARIBBEAN, S.C. www.sillac.com SILLAC WEB-SEMINAR SERIES PRESENTS WEB-SEMINAR 3 on Foreign Investment in Latin America and the Caribbean R. Leticia

More information

Colombia s Sovereign Rating

Colombia s Sovereign Rating Colombia s Sovereign Rating Sebastian Briozzo Analytical Manager Sovereign Ratings Group Standard & Poor s June 2015 Permission to reprint or distribute any content from this presentation requires the

More information

Fiscal and Debt Coordination

Fiscal and Debt Coordination Fiscal and Debt Coordination Eduardo Fernández-Arias Inter-American Development Bank Sovereign Debt Management Forum World Bank, Washington, 3 Dec 2014 Outline 1) The Macroeconomic Space Fiscal policy

More information

Harmonisation of the Notes to Annual Accounts: Proposal for action

Harmonisation of the Notes to Annual Accounts: Proposal for action Control, Budget and Accounting Department April 2005 Harmonisation of the Notes to Annual Accounts: Proposal for action Inés Fortis Pita CONTENTS 1. Purpose... 5 2. Harmonisation under IFRSs of the notes

More information

December 10, International Accounting Standards Board 30 Cannon Street London EC4M 6XH United Kingdom

December 10, International Accounting Standards Board 30 Cannon Street London EC4M 6XH United Kingdom December 10, 2012 International Accounting Standards Board 30 Cannon Street London EC4M 6XH United Kingdom RE: IFRS for SMEs Comprehensive Review - Request for Information Dear Board Members, The Group

More information

Total Imports by Volume (Gallons per Country)

Total Imports by Volume (Gallons per Country) 6/6/2018 Imports by Volume (Gallons per Country) YTD YTD Country 04/2017 04/2018 % Change 2017 2018 % Change MEXICO 60,968,190 71,994,646 18.1 % 231,460,145 253,500,213 9.5 % NETHERLANDS 13,307,731 10,001,693

More information

Vicente Rodero General Manager South America. Management and Growth

Vicente Rodero General Manager South America. Management and Growth Vicente Rodero General Manager South America Management and Growth Disclaimer This document is only provided for information purposes and does not constitute, nor must it be interpreted as, an offer to

More information

SOVEREIGN ISSUES PLURINATIONAL STATE OF BOLIVIA

SOVEREIGN ISSUES PLURINATIONAL STATE OF BOLIVIA SOVEREIGN ISSUES PLURINATIONAL STATE OF BOLIVIA Presented by Roger Edwin Rojas Ulo Vice Minister of the Treasury and Public Credit Ministry of Economy and Public Finance Brussels, 4 April 2014 Bolivia

More information

FISCAL EQUITY AND PERSONALIZED VAT IN LATIN AMERICA

FISCAL EQUITY AND PERSONALIZED VAT IN LATIN AMERICA FISCAL EQUITY AND PERSONALIZED VAT IN LATIN AMERICA Martin Bès Jerónimo Roca Alberto Barreix Revenue Movilization and Development IMF April 2011 Fiscal Revenues are diverse in nature, larger than traditional

More information

Demographic Trends and the Real Interest Rate

Demographic Trends and the Real Interest Rate Demographic Trends and the Real Interest Rate Noëmie Lisack, Rana Sajedi, and Gregory Thwaites Discussion by Sebnem Kalemli-Ozcan 1 / 20 What does the paper do? Quantifies the role of demographic change

More information

Sugar Monthly Import and Re-Exports

Sugar Monthly Import and Re-Exports Sugar Monthly Import and Re-Exports Fiscal Year (FY) 2017 Report December 2016 The December WASDE report shows FY 2017 WTO raw sugar tariff-rate quota (TRQ) shortfall projected at 99,208 short tons raw

More information

Canada Jumps on the Bilateral Bandwagon

Canada Jumps on the Bilateral Bandwagon Canada Jumps on the Bilateral Bandwagon John W. Boscariol and Orlando E. Silva* Following in the footsteps of the United States and other major trading partners, the Canadian government has been actively

More information

Institutions, Capital Flight and the Resource Curse. Ragnar Torvik Department of Economics Norwegian University of Science and Technology

Institutions, Capital Flight and the Resource Curse. Ragnar Torvik Department of Economics Norwegian University of Science and Technology Institutions, Capital Flight and the Resource Curse Ragnar Torvik Department of Economics Norwegian University of Science and Technology The resource curse Wave 1: Case studies, Gelb (1988) The resource

More information

HEALTH WEALTH CAREER 2017 WORLDWIDE BENEFIT & EMPLOYMENT GUIDELINES

HEALTH WEALTH CAREER 2017 WORLDWIDE BENEFIT & EMPLOYMENT GUIDELINES HEALTH WEALTH CAREER 2017 WORLDWIDE BENEFIT & EMPLOYMENT GUIDELINES WORLDWIDE BENEFIT & EMPLOYMENT GUIDELINES AT A GLANCE GEOGRAPHY 77 COUNTRIES COVERED 5 REGIONS Americas Asia Pacific Central & Eastern

More information

Enterprise Surveys e. Obtaining Finance in Latin America and the Caribbean 1

Enterprise Surveys e. Obtaining Finance in Latin America and the Caribbean 1 Enterprise Surveys e Obtaining Finance in Latin America and the Caribbean 1 WORLD BANK GROUP LATIN AMERICA AND THE CARIBBEAN SERIES NOTE NO. 12/13 Basic Definitions Countries surveyed in and how they are

More information

JULY 2010 USD 600 MM MATURITY 2016 EUR 100 MM COP 111,980 MM MATURITY 2014 AUGUST 2008 CHF 200 MM MATURITY 2013 MXN 750 MM

JULY 2010 USD 600 MM MATURITY 2016 EUR 100 MM COP 111,980 MM MATURITY 2014 AUGUST 2008 CHF 200 MM MATURITY 2013 MXN 750 MM DECEMBER 2010 USD 50 MM NOVEMBER 2010 EUR 400 MM NOVEMBER 2010 CHF 250 MM 192 MATURITY 2018 MATURITY 2015 OCTOBER 2010 JPY 4,600 MM JULY 2010 USD 600 MM MAY 2010 USD 74 MM MATURITY 2015 MATURITY 2016 MARCH

More information

Think Global Invest Local

Think Global Invest Local Think Global Invest Local Perspectives on Investment Opportunities in Latin America LABA Conference February 16 th, 2007 Guillermo Jasson Latin America Regional Head and Head of Investment Banking 1-212-761-7056

More information

Reserving in a High Inflation Environment

Reserving in a High Inflation Environment Reserving in a High Inflation Environment Case Study: Argentina Auto Casualty Actuaries of the South East Atlanta, Georgia September 22, 2014 AIG Footprint Mexico Puerto Rico El Salvador, Honduras, Guatemala

More information

Total Imports by Volume (Gallons per Country)

Total Imports by Volume (Gallons per Country) 1/5/2018 Imports by Volume (Gallons per Country) YTD YTD Country 11/2016 11/2017 % Change 2016 2017 % Change MEXICO 50,994,409 48,959,909 (4.0)% 631,442,105 657,851,150 4.2 % NETHERLANDS 9,378,351 11,903,919

More information

Developing Housing Finance Systems

Developing Housing Finance Systems Developing Housing Finance Systems Veronica Cacdac Warnock IIMB-IMF Conference on Housing Markets, Financial Stability and Growth December 11, 2014 Based on Warnock V and Warnock F (2012). Developing Housing

More information

SINDUSFARMA Working Group Regulatory Latam

SINDUSFARMA Working Group Regulatory Latam Nº 1 November / Novembro 2017 SINDUSFARMA Working Group Regulatory Latam Concept and rules comparison for: CPPs, origin country, reference country in Latin America Cecilia Diaz, Juliana Perlow, Lilian

More information

Total Imports by Volume (Gallons per Country)

Total Imports by Volume (Gallons per Country) 2/6/2018 Imports by Volume (Gallons per Country) YTD YTD Country 12/2016 12/2017 % Change 2016 2017 % Change MEXICO 50,839,282 54,169,734 6.6 % 682,281,387 712,020,884 4.4 % NETHERLANDS 10,630,799 11,037,475

More information

Regional economic view of Latin America

Regional economic view of Latin America Roberto Junguito, FASECOLDA Regional economic view of Latin America Insert your Company Logo here May 2013 Agenda 1. Insurance in Latin America 2. Insurance and Economics 3. Future Economic Challenges

More information

The CFC regime for Spanish companies investing in Latin America and elsewhere. Pere M. Pons New York, May 7th, 2012

The CFC regime for Spanish companies investing in Latin America and elsewhere. Pere M. Pons New York, May 7th, 2012 The CFC regime for Spanish companies investing in Latin America and elsewhere Pere M. Pons New York, May 7th, 2012 Outline I. Introduction II. Overview of Spanish investments in LATAM III. CFC regulations

More information

Sugar Monthly Import and Re-Exports

Sugar Monthly Import and Re-Exports Sugar Monthly Import and Re-Exports Fiscal Year (FY) 2016 Report November 2015 The November WASDE report shows FY 2016 WTO raw sugar tariff-rate quota (TRQ) shortfall projected at 99,208 short tons raw

More information

EQUITY REPORTING & WITHHOLDING. Updated May 2016

EQUITY REPORTING & WITHHOLDING. Updated May 2016 EQUITY REPORTING & WITHHOLDING Updated May 2016 When you exercise stock options or have RSUs lapse, there may be tax implications in any country in which you worked for P&G during the period from the

More information

GLOBAL MARINE INSURANCE REPORT 2017

GLOBAL MARINE INSURANCE REPORT 2017 GLOBAL MARINE INSURANCE REPORT 2017 Astrid Seltmann Analyst/Actuary, The Nordic Association of Marine Insurers (Cefor) Vice chair of IUMI s Facts & Figures Committee Warning! Figures reflect the 2017 state

More information

Inter-American Investment Corporation. Investor Presentation

Inter-American Investment Corporation. Investor Presentation Inter-American Investment Corporation Investor Presentation 3 4 $11.2 BILLION TOTAL ASSETS UNDER MANAGEMENT AS OF JUNE 30, 2017 $2.7 BILLION EQUITY AVAILABLE FOR FINANCING OVER THE NEXT TEN YEARS 26 IDB

More information

Request to accept inclusive insurance P6L or EASY Pauschal

Request to accept inclusive insurance P6L or EASY Pauschal 5002001020 page 1 of 7 Request to accept inclusive insurance P6L or EASY Pauschal APPLICANT (INSURANCE POLICY HOLDER) Full company name and address WE ARE APPLYING FOR COVER PRIOR TO DELIVERY (PRE-SHIPMENT

More information

Measuring Loss on Latin American Defaulted Bank Loans: A 27-Year Study of 27 Countries

Measuring Loss on Latin American Defaulted Bank Loans: A 27-Year Study of 27 Countries Measuring Loss on Latin American Defaulted Bank Loans: A 27-Year Study of 27 Countries Lew Hurt Vice President Portfolio Strategies Group Citibank, New York Akos Felsovalyi Vice President Portfolio Strategies

More information

Globalisation, development financing and Chindia in Latin America

Globalisation, development financing and Chindia in Latin America Globalisation, development financing and Chindia in Latin America Latin American Economic Outlook 28 Javier Santiso Director & Chief Development Economist OECD Development Centre Bern, 11th March 28 Swiss

More information

Latin American Tax Update. John Guarin Latin American Project Manager - New York May 6, 2013

Latin American Tax Update. John Guarin Latin American Project Manager - New York May 6, 2013 Latin American Tax Update John Guarin Latin American Project Manager - New York May 6, 2013 Investing in Latin America General stats (2011) Alphabetical Listing Population Economy Size GDP (current US$

More information

» Grupo LALA, S.A.B. de C.V.

» Grupo LALA, S.A.B. de C.V. Investor Relations Presentation» Grupo LALA, S.A.B. de C.V. May, 2016 INVESTMENT HIGHLIGHTS» Scale and Leadership in Branded Healthy Foods» Second Most Recognized Consumer Brand in Mexico» Two Megabrands»

More information

Total Imports by Volume (Gallons per Country)

Total Imports by Volume (Gallons per Country) 10/5/2017 Imports by Volume (Gallons per Country) YTD YTD Country 08/2016 08/2017 % Change 2016 2017 % Change MEXICO 51,349,849 67,180,788 30.8 % 475,806,632 503,129,061 5.7 % NETHERLANDS 12,756,776 12,954,789

More information

SHARE IN OUR FUTURE AN ADVENTURE IN EMPLOYEE STOCK OWNERSHIP DEBBI MARCUS, UNILEVER

SHARE IN OUR FUTURE AN ADVENTURE IN EMPLOYEE STOCK OWNERSHIP DEBBI MARCUS, UNILEVER SHARE IN OUR FUTURE AN ADVENTURE IN EMPLOYEE STOCK OWNERSHIP DEBBI MARCUS, UNILEVER DEBBI.MARCUS@UNILEVER.COM RUTGERS SCHOOL OF MANAGEMENT AND LABOR RELATIONS NJ/NY CENTER FOR EMPLOYEE OWNERSHIP AGENDA

More information

Kanaan & Associates AN INDEPENDENT MEMBER FIRM OF BKR INTERNATIONAL B K R INTERNATIONAL. VAT IN THE UAE Progress Report August 2017

Kanaan & Associates AN INDEPENDENT MEMBER FIRM OF BKR INTERNATIONAL B K R INTERNATIONAL. VAT IN THE UAE Progress Report August 2017 Kanaan & Associates AN INDEPENDENT MEMBER FIRM OF BKR INTERNATIONAL B K R INTERNATIONAL VAT IN THE UAE Progress Report August 2017 Which laws and regulations have been issued up to August 2017? 1. Federal

More information

The Political Economy of Reform in Resource Rich Countries

The Political Economy of Reform in Resource Rich Countries The Political Economy of Reform in Resource Rich Countries Professor Ragnar Torvik Department of Economics Norwegian University of Science and Technology High-level seminar on Natural resources, finance,

More information

Transition to formality

Transition to formality Transition to formality Regional forum for the exchange of knowledge between countries in Latin America and the Caribbean 24 to 28 August 2015, Lima, Peru Transition to formality in Latin America and the

More information

Doing business in Latin America

Doing business in Latin America Doing business in Latin America Understanding Latin America Brazil Mexico Southern Cone Andean State 2 Multiple countries Multiple currencies Multiple considerations The Latin America payments landscape

More information

Regional Profile: Latin America

Regional Profile: Latin America Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Regional Profile: Latin America 2 2013 The International Bank for Reconstruction and

More information

Organisation de Coopération et de Développement Économiques Organisation for Economic Co-operation and Development. English/French COUNCIL

Organisation de Coopération et de Développement Économiques Organisation for Economic Co-operation and Development. English/French COUNCIL Unclassified C(2016)1/FINAL Organisation de Coopération et de Développement Économiques Organisation for Economic Co-operation and Development 04-May-2016 English/French COUNCIL C(2016)1/FINAL Unclassified

More information

Recent Developments in Latin America

Recent Developments in Latin America Recent Developments in Latin America Jeffery Commission ICC Canada International Arbitration Conference 7 November 2014 I. INVESTOR-STATE ARBITRATION 1 1. GEOGRAPHIC DISTRIBUTION OF NEW ICSID CASES REGISTERED

More information

Fostering competition in the Brazilian Financial Sector

Fostering competition in the Brazilian Financial Sector Fostering competition in the Brazilian Financial Sector Cleofas Salviano Junior Central Bank of Brazil April 2008 Cemla-Banco de México Seminar Financial Inclusion and Modernization in LA Agenda Overview

More information

BUILDING A LOCAL VENTURE CAPITAL INDUSTRY

BUILDING A LOCAL VENTURE CAPITAL INDUSTRY THE MULTILATERAL INVESTMENT FUND: LESSONS LEARNED BUILDING A LOCAL VENTURE CAPITAL INDUSTRY IN LATIN AMERICA AND THE CARIBBEAN 15 YEARS INVESTING IN THE REGION By Susana Garcia-Robles / Established in

More information

SCCIA Conference. September 17, M. All Rights Reserved.

SCCIA Conference. September 17, M. All Rights Reserved. SCCIA Conference September 17, 2013 2013 3M. All Rights Reserved. Our Vision 3M Technology Advancing Every Company 3M Products Enhancing Every Home 3M Innovation Improving Every Life 2 2013 3M. All Rights

More information

Private Participation in Infrastructure 1 Database (PPIDB) Half Year Update (January June 2016)

Private Participation in Infrastructure 1 Database (PPIDB) Half Year Update (January June 2016) Private Participation in Infrastructure 1 Database (PPIDB) Half Year Update (January June 216) Investment 2 in infrastructure 3 with private participation in developing countries totaled US$29.5 billion

More information

The challenge of financing for development in Latin America and the Caribbean

The challenge of financing for development in Latin America and the Caribbean The challenge of financing for development in Latin America and the Caribbean USG and Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC) Financing for Development

More information

Global Business Barometer April 2008

Global Business Barometer April 2008 Global Business Barometer April 2008 The Global Business Barometer is a quarterly business-confidence index, conducted for The Economist by the Economist Intelligence Unit What are your expectations of

More information

STATEMENT T0 THE ANNUAL MEETING OF GOVERNING BOARD OF THE WORLD BANK AND IMF

STATEMENT T0 THE ANNUAL MEETING OF GOVERNING BOARD OF THE WORLD BANK AND IMF STATEMENT T0 THE ANNUAL MEETING OF GOVERNING BOARD OF THE WORLD BANK AND IMF Washington, September 30, 1987 It is an honor to address this meeting of the Governors of the International Monetary Fund, on

More information

LISTENING ENGAGING IMPROVING IDB External Feedback System

LISTENING ENGAGING IMPROVING IDB External Feedback System LISTENING ENGAGING IMPROVING 2014 IDB External Feedback System Since its creation, the Inter-American Development Bank (IDB) has been committed to aligning its work with the unique and evolving development

More information

IDB EXTERNAL FEEDBACK SYSTEM 2015 REPORT

IDB EXTERNAL FEEDBACK SYSTEM 2015 REPORT IDB EXTERNAL FEEDBACK SYSTEM 2015 REPORT 1 Since its launch in 2012, the External Feedback System (EFS) has delivered key insights into what our partners value and how we can further enhance our role in

More information

CORPORACIÓN ANDINA DE FOMENTO

CORPORACIÓN ANDINA DE FOMENTO ACE BOWNE OF WASHINGTON 06/30/2010 19:58 NO MARKS NEXT PCN: 002.00.00.00 -- Page/graphics valid 06/30/2010 19:58 BOW X78691 001.00.00.00 11 This prospectus supplement relates to an effective registration

More information

U.S. Textile and Apparel Trade Policy Update

U.S. Textile and Apparel Trade Policy Update U.S. Textile and Apparel Trade Policy Update Kim Glas Deputy Assistant Secretary for Textiles and Apparel International Trade Administration U.S. Department of Commerce USA-ITA January 9, 2013 Agenda Trans-Pacific

More information

Panamanian Banks. Macro Outlook and Regional Framework. Alejandro Garcia, CFA Managing Director, Latin America Financial Institutions

Panamanian Banks. Macro Outlook and Regional Framework. Alejandro Garcia, CFA Managing Director, Latin America Financial Institutions Panamanian Banks Macro Outlook and Regional Framework Alejandro Garcia, CFA Managing Director, Latin America Financial Institutions August 9, 217 Contents 1 Panama: Slower but Still Robust Growth 2 Panamanian

More information

EAST BALT BAKERIES July 2017 ACQUISITION

EAST BALT BAKERIES July 2017 ACQUISITION EAST BALT BAKERIES July 2017 ACQUISITION E AST BA LT AT A G L A N C E Leading foodservice-focused company that supplies baked goods to Quick Service Restaurants ( QSR ) across the world Operates 21 bakeries

More information

Tale of Two Adjustments. The Outlook for Latin America and the Caribbean. Port of Spain, Trinidad and Tobago June 14, 2017

Tale of Two Adjustments. The Outlook for Latin America and the Caribbean. Port of Spain, Trinidad and Tobago June 14, 2017 Regional Economic Outlook: Western Hemisphere April 17 Tale of Two Adjustments The Outlook for Latin America and the Caribbean Port of Spain, Trinidad and Tobago June 1, 17 Outlook and Risks Tale of Two

More information

Citi Investor Relations. Credit Suisse Financial Services Forum. February 13, Jane Fraser CEO, Citigroup Latin America

Citi Investor Relations. Credit Suisse Financial Services Forum. February 13, Jane Fraser CEO, Citigroup Latin America Citi Investor Relations Credit Suisse Financial Services Forum February 13, 2018 Jane Fraser CEO, Citigroup Latin America Agenda Franchise Overview Latin America Institutional Clients Group Mexico Consumer

More information

YUM! Brands, Inc. Historical Financial Summary. Second Quarter, 2017

YUM! Brands, Inc. Historical Financial Summary. Second Quarter, 2017 YUM! Brands, Inc. Historical Financial Summary Second Quarter, 2017 YUM! Brands, Inc. Consolidated Statements of Income (in millions, except per share amounts) 2017 2016 2015 YTD Q3 Q4 FY FY Revenues Company

More information

Software Sector May 2009

Software Sector May 2009 Software Sector May 2009 1. Software industry in Colombia 2. Services to investors Software Industry in Colombia: - Competitive Operational Cost - Human Resources - Industry Maturity - Infrastructure -

More information

Investing in the Education Sector

Investing in the Education Sector This document was created before Parthenon joined Ernst & Young LLP on August 29, 2014, and has not been updated to reflect the combination. Investing in the Sector Strategies for Success in Emerging Markets

More information

5688/13 JPS/io 1 DGB 1 B?? EN

5688/13 JPS/io 1 DGB 1 B?? EN COUNCIL OF THE EUROPEAN UNION Brussels, 25 January 2013 5688/13 AGRI 38 WTO 23 COVER NOTE from: to: Subject: General Secretariat Council EU-Canada Free Trade Agreement negotiations WTO negotiations = information

More information

Report to Donors Sponsored Delegates to the 12th Conference of the Parties Punta del Este, Uruguay 1-9 June 2015

Report to Donors Sponsored Delegates to the 12th Conference of the Parties Punta del Este, Uruguay 1-9 June 2015 Report to Donors Sponsored Delegates to the 12th Conference of the Parties Punta dell Este, Uruguay 1-9 June 2015 1 Contents Details of sponsorship Table 1. Fundraising (income from donors) Table 2. Sponsored

More information

The Camden Asset Recovery Inter-Agency Network (CARIN)

The Camden Asset Recovery Inter-Agency Network (CARIN) 2013/ACT/NET/002 Session 1 The Camden Asset Recovery Inter-Agency Network (CARIN) Purpose: Information Submitted by: CARIN Anti-Corruption and Transparency Network Preparatory Meeting Bali, Indonesia 18-19

More information

TREATY ESTABLISHING THE LATIN AMERICAN INTEGRATION ASSOCIATION (LAIA) * [excerpts]

TREATY ESTABLISHING THE LATIN AMERICAN INTEGRATION ASSOCIATION (LAIA) * [excerpts] International Investment Instruments: A Compendium/Volume 3/Regional instruments. TREATY ESTABLISHING THE LATIN AMERICAN INTEGRATION ASSOCIATION (LAIA) * [excerpts] The Treaty of Montevideo Establishing

More information

New Avenues for Financing Infrastructure Managing Risks and Contingent Liabilities in LAC

New Avenues for Financing Infrastructure Managing Risks and Contingent Liabilities in LAC DMF STAKEHOLDERS FORUM 2014 DEBT MANAGEMENT IN DEVELOPING COUNTRIES: NEW FRONTIERS AND ONGOING CHALLENGES New Avenues for Financing Infrastructure Managing Risks and Contingent Liabilities in LAC Edgardo

More information

FINDINGS OF THE 2017 GLOBAL SURVEY ON DEVELOPMENT BANKS

FINDINGS OF THE 2017 GLOBAL SURVEY ON DEVELOPMENT BANKS FINDINGS OF THE 2017 GLOBAL SURVEY ON DEVELOPMENT BANKS September 19, 2017 José de Luna Martínez Lead Financial Sector Specialist Contents 1 Background Information 2 Main Findings 3 Challenges for DFIs

More information

FOREIGN ACTIVITY REPORT

FOREIGN ACTIVITY REPORT FOREIGN ACTIVITY REPORT SECOND QUARTER 2012 TABLE OF CONTENTS Table of Contents... i All Securities Transactions... 2 Highlights... 2 U.S. Transactions in Foreign Securities... 2 Foreign Transactions in

More information

Status of IPSAS adoption in Latin American and Carribean countries

Status of IPSAS adoption in Latin American and Carribean countries Status of IPSAS adoption in Latin American and Carribean countries Thomas Müller-Marqués Berger Chairman of the CAG to the IPSASB Ernst & Young Germany Agenda 1 2 3 4 5 6 7 8 Objectives and timeline Overall

More information

CREATING OPPORTUNITY. and the Caribbean

CREATING OPPORTUNITY. and the Caribbean CREATING OPPORTUNITY IFC in Latin America and the Caribbean With a global presence in more than 100 countries, a network of more than 900 financial institutions, and nearly 2,000 private sector clients,

More information

Credit Opinion: Corporación Andina de Fomento

Credit Opinion: Corporación Andina de Fomento Credit Opinion: Corporación Andina de Fomento Global Credit Research - 11 Jul 2014 Ratings Category Moody's Rating Outlook Stable Issuer Rating Aa3 Senior Secured Aa3 Senior Unsecured Aa3 Commercial Paper

More information

Executive Summary. Fiscal Panorama. of Latin America and the Caribbean 2015 Policy space and dilemmas

Executive Summary. Fiscal Panorama. of Latin America and the Caribbean 2015 Policy space and dilemmas Executive Summary Fiscal Panorama of Latin America and the Caribbean 2015 Policy space and dilemmas Executive Summary Fiscal Panorama of Latin America and the Caribbean 2015 Policy space and dilemmas Alicia

More information

2017 Fourth Quarter Data Book

2017 Fourth Quarter Data Book 2017 Fourth Quarter Data Book TABLE OF CONTENTS PAGE STOCK AND EQUITY RELATED INFORMATION --------------------------------------------------- 3 SUMMARY OF SALES AND INCOME-----------------------------------------------------------------

More information

Dispatch from Colombia June Plaza de Bolivar, Bogotá

Dispatch from Colombia June Plaza de Bolivar, Bogotá Dispatch from Colombia June 2015 Plaza de Bolivar, Bogotá Dear Friends, Standing on Monserrate recently, the mountain that overlooks Bogotá in the valley below, this city of nearly seven million inhabitants

More information

INFORMATION CIRCULAR: J.P. MORGAN EXCHANGE-TRADED FUND TRUST

INFORMATION CIRCULAR: J.P. MORGAN EXCHANGE-TRADED FUND TRUST INFORMATION CIRCULAR: J.P. MORGAN EXCHANGE-TRADED FUND TRUST TO: FROM: Head Traders, Technical Contacts, Compliance Officers, Heads of ETF Trading, Structured Products Traders Nasdaq / BX / PHLX Listing

More information

M&G Emerging Markets Bond Fund Claudia Calich, Fund Manager. November 2015

M&G Emerging Markets Bond Fund Claudia Calich, Fund Manager. November 2015 M&G Emerging Markets Bond Fund Claudia Calich, Fund Manager November 2015 Agenda Macro update & government bonds Emerging market corporate bonds Fund positioning Emerging markets risks today Risks Slowing

More information

2017 Fourth Quarter Data Book

2017 Fourth Quarter Data Book 2017 Fourth Quarter Data Book 14 February 3M 2018. All Rights Reserved. 1 TABLE OF CONTENTS PAGE STOCK AND EQUITY RELATED INFORMATION ------------------------------------------------------- 3 SUMMARY OF

More information

Top Ten Reasons to Move your Latin American Headquarters to Panama

Top Ten Reasons to Move your Latin American Headquarters to Panama Top Ten Reasons to Move your Latin American Headquarters to Panama Dec 06, 2011 Top Ten By María Carolina Arroyo Carin Stelp This resource is sponsored by: By María Carolina Arroyo and Carin Stelp, Arias,

More information