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Stories by Walter Molano

Published:Thursday | December 1, 2016 | 12:00 AMWalter Molano

As 2016 prepares to fade away, we will be starting a new chapter of global development.In a way, United States presidential terms help organise the narrative.The last two presidencies have had strong...

Published:Thursday | April 21, 2016 | 12:00 AMWalter Molano

A whirlwind of headlines hit a crescendo last Sunday night as the lower house of congress delivered its historical vote in Brasilia.Lula and Dilma screamed that they were the victims of a coup d'etat, but the...

Published:Thursday | April 14, 2016 | 12:00 AMWalter Molano

In contrast to its northern neighbours, Latin America's independence did not have a long gestation period.There was no brooding over taxation and representation. It was a matter of life and death for the Creoles....

Published:Thursday | March 10, 2016 | 12:00 AMWalter Molano

Central bankers are a staid lot. As stewards of monetary policy, they are expected to be dour. They are not the types to don keffiyehs or balaclavas, but they may as well because of the damage they are committing to the...

Published:Thursday | March 3, 2016 | 12:00 AMWalter Molano

Russian bonds did very well last year. Sovereign bond prices rose, despite the decline in oil prices.Most investors pointed to the country's strong leadership, and Putin's commitment to rein in the fiscal...

Published:Wednesday | February 24, 2016 | 12:00 AMWalter Molano

The ice trade was a well-respected industry at the turn of the 20th century. Its genesis coincided with the onset of the Industrial Revolution, when much of the population began moving into urban settings.As...

Published:Thursday | February 18, 2016 | 12:00 AMWalter Molano

President Nicolas Maduro is on borrowed time. Venezuela’s policy mistakes are coming home to roost, as the price of oil languishes. President Chavez’s so-called Bolivarian revolution, as well as the missteps of his successor, is mostly...

Published:Thursday | January 14, 2016 | 10:12 AMWalter Molano

What lies ahead not all doom and gloomCapital is the essence of capitalism. Along with land and labour, it comprises the three factors of production.While the latter two contribute linearly to a nation's output, capital's contribution to growth,...

Published:Thursday | November 19, 2015 | 12:00 AMWalter Molano

The primacy of debt over equity is one of the pillars of capitalism. The principle is plainly evident during corporate debt restructurings.Equity shareholders surrender part of their holdings in return for the forbearance of...

Published:Thursday | November 12, 2015 | 12:00 AMWalter Molano

The Mexican economy shines like a bright star in the Latin American firmament. Its strength is the result of hard work, not marketing hype.For a decade, it remained out of the regional spotlight while much of South America...

Published:Thursday | October 29, 2015 | 12:00 AMWalter Molano

Let's cut to the chase. Devaluations are nothing more than wage cuts.We can easily be distracted with Mundell-Fleming models, exchange rate parities, employment assumptions, competitiveness/productivity factors, pass-through inflation...

Published:Thursday | October 22, 2015 | 12:00 AMWalter Molano

PROBLEMS IN China, the tightening of financial conditions in the United States, and the plunge in commodity prices have spread turmoil throughout the emerging world.Although some bond prices recovered when market...

Published:Thursday | October 15, 2015 | 12:00 AMWalter Molano

Quantitative easing was sold to the general public as an initiative to expand private-sector spending by electronically creating money to buy financial assets.However, it was nothing more than giving the banks free...

Published:Thursday | October 1, 2015 | 10:20 AMWalter Molano

Brazil is losing the plotWinter gives way to spring, as the southern hemisphere tilts towards the sun, yet none of the optimism that is associated with the arrival of warmer weather is on display.There is a prevalence of shuttered storefronts along...

Published:Thursday | September 24, 2015 | 10:31 AMWalter Molano

Mexico has been the top sovereign recommendation for the last few years.The United States economic recovery, rising wages in China and the deep integration with its main trade partner were the reasons for the optimism.Unfortunately, events in Mexico...

Published:Thursday | September 10, 2015 | 10:42 AMWalter Molano

In January 2007, Rafael Correa donned Ecuador's presidential sash, and became its 56th head of state.Armed with a doctorate from the University of Illinois and trained under the wings of Werner Baer, Correa marked the start of a new era. His close...

Published:Wednesday | April 8, 2015 | 8:26 PMWalter Molano

Busan, South Korea, was an odd place to host the Inter-American Development Bank (IDB) annual meeting.Far removed from the Western Hemisphere, it probably sounded brilliant a few years ago to IDB President Luis Alberto Moreno. A late comer to the...

Published:Wednesday | December 31, 2014 | 2:12 PMWalter Molano

Times are tough for the Province of Buenos Aires.

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