Banking: The week in 10 stories

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Friday, August 24, 2018

BRAZIL

Brazil's presidential race remains highly polarized ahead of the October election.

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Federal savings bank Caixa Econômica Federal saw a sharp rise in second quarter earnings as lower provisions offset a decrease in lending.

MEXICO

Alfonso Romo, Mexico's future chief of staff in the cabinet of president-elect Andrés Manuel López Obrador (AMLO), praised the spirit of cooperation between the private sector and the incoming government, stressing private-public collaboration will be key to accomplishing the administration's goals.

ARGENTINA

Argentina's biggest domestic commercial lender, Banco Macro, is forecasting activity on the local M&A front within the next two years.

CHILE

President Sebastián Piñera has unveiled a tax reform bill.

URUGUAY

True financial inclusion involves providing transaction accounts - those that allow the holder to store, send and receive funds - and access to financial education, BNamericas was told ahead of the second Montevideo Fintech Forum.

VENEZUELA

A former Swiss bank executive has pleaded guilty to conspiracy to launder funds embezzled from Venezuelan state-owned oil company PDVSA as part of a wide-ranging probe by US authorities.

The devaluation of the bolívar and other economic measures ordered by Venezuelan President Nicolás Maduro are likely to fail in their objectives, according to an expert from Fitch Ratings.

Venezuela was hit by several earthquakes as authorities rolled out a new currency in Maduro's latest attempt to tackle a severe economic crisis.

REGIONAL

Alicia Bárcena, the executive secretary for the UN's economic commission for Latin America and the Caribbean (Eclac), has called on governments in the region to boost public investment.