Latin Finance - September/October 2009 - 58

Caribbean macro outlook which holds a 91% stake in the country’s First Caribbean government expenditures that have supported growth in Bank, is the most likely buyer of the 55% stake in Republic. the past. “However, it seems that the CL Financial situation It could cost $1.3 billion to buy the chunk, according to a has been contained and the spillover effect to the rest of the banker who asks not to be identified. However, a senior banking system has been limited,” he adds. Republic executive says Mottley believes his institution is not that ultimately, the Caribbean Real GDP Growth interested in acquiring government will sell off DR doing best the shares. CL Financial assets to One strategy the recoup money spent on 2007 2008 2009 2010 Caribbean could use the bailout. “However, Trinidad & Tobago 5.5% 3.5% 0.0% 2.5% to better handle future it is taking a cautious economic crises, approach, a wise Dominican Republic 8.5% 5.3% 0.0% 3.0% believes Mottley, is to approach. It doesn’t want diversify away from Barbados 3.3% 0.7% -3.0% 1.0% to be pressed into fire tourism. “Without sales,” he adds. Jamaica 1.4% -0.6% -3.5% 1.0% counting T&T’s The sale of a 55% energy sector, the stake in Republic Bank Source: JPMorgan Caribbean has not and a 56% in Methanol been able to find a way Holdings in Trinidad & economically to be of service to the rest of the world.” Tobago are on hold until the global economy strengthens and “This fundamental problem persisted before the crisis stabilizes, says Carl Hiralal, inspector of financial institutions and the crisis has exaggerated that lack of direction, drive at Trinidad & Tobago’s central bank. “There has been no and leadership to find its way in the wider world,” adds the decision to sell yet. These are good assets and this is not the banker. Most of the Caribbean, excluding T&T, is still just best time to sell them,” he tells LatinFinance. “sun, sand and sea,” in Mottley’s opinion. LF Bankers in Trinidad said in April that Canada’s CIBC, Trinidad and Tobago – Your Next Tourism Investment Location T rinidad and Tobago is a beautiful and exciting twin island state, located on the southernmost tip of the Caribbean archipelago. Boasting a robust economy, driven by real GDP growth of 8% over the last decade, the country has recorded over sixteen years of positive economic growth. The strategic location, supported by excellent physical infrastructure, including modern air and sea ports, world class utilities, coupled with a highly skilled and well-educated workforce and a very attractive fiscal incentive regime, make this country a formidable tourism investment proposition. Trinidad and Tobago has received investment grade ratings from the major global agencies, and together with a competitive operating cost structure, opportunities abound for the further development of the industry. This sustained growth has fuelled the expansion of other areas of the economy allowing the country to position itself as the unrivalled trade, diplomatic, financial and judicial hub of the Caribbean. As a result, this has driven tourism to new heights as evidenced by the steady growth of visitor arrivals, and most conspicuously, the entry of brands from renowned hotel chains like Marriott, Hyatt and the Intercontinental Hotel Group. With strong foreign reserves to cover eleven (11) months of imports, some of the lowest utility rates in the region and a stable political climate, Trinidad and Tobago has earned an international reputation as a preferred location for investment in the Caribbean. The modern, cosmopolitan capital city of Port of Spain is being branded as the Meetings and Conference capital of the southern Caribbean. The recent launch of the Hyatt Regency Trinidad and Conference Centre, with over 50,000 square feet of meeting space, is the flagship hotel and conference centre in the region. Already, the city has hosted major conferences, such as the 5th Summit of the Americas held in April 2009, and is set to host the Commonwealth Heads of Government Meeting in November 2009. Through innovative strategies and focussed marketing, international visitor numbers have been rising as we also further develop and exploit other lucrative tourism market niches like culture, cruise, sports, dive and eco and soft adventure. Trinidad and Tobago is on a fast track to becoming a world-class tourism destination. We invite you to be part of this movement and invest in the Caribbean’s tourism destination of choice… Trinidad and Tobago – The True Caribbean. corporate statement TDC half page.indd 1 8/27/09 10:47 AM 58 LatinFinance September/October 2009

Latin Finance - September/October 2009

Table of Contents for the Digital Edition of Latin Finance - September/October 2009

Latin Finance - September/October 2009
Contents
Investment Banking Survey
Who Said That?
OTPP Investment Strategy
Central Bank Scorecards
Brazil Liability Management
Real Estate Equity Resurrected
Structured Finance Forecasts
Grim Outlook. Reform Required
Banorte Seeks to Grow
Peru Spending Hits a Block
BCP Sees Better Days
Caribbean Investment Report
Sustainable Banking
Legal Services Survey
Parting Shot
Latin Finance - September/October 2009 - Latin Finance - September/October 2009
Latin Finance - September/October 2009 - Cover2
Latin Finance - September/October 2009 - Contents
Latin Finance - September/October 2009 - 2
Latin Finance - September/October 2009 - 3
Latin Finance - September/October 2009 - 4
Latin Finance - September/October 2009 - 5
Latin Finance - September/October 2009 - 6
Latin Finance - September/October 2009 - 7
Latin Finance - September/October 2009 - 8
Latin Finance - September/October 2009 - 9
Latin Finance - September/October 2009 - 10
Latin Finance - September/October 2009 - 11
Latin Finance - September/October 2009 - 12
Latin Finance - September/October 2009 - 13
Latin Finance - September/October 2009 - Investment Banking Survey
Latin Finance - September/October 2009 - Who Said That?
Latin Finance - September/October 2009 - 16
Latin Finance - September/October 2009 - 17
Latin Finance - September/October 2009 - 18
Latin Finance - September/October 2009 - 19
Latin Finance - September/October 2009 - 20
Latin Finance - September/October 2009 - 21
Latin Finance - September/October 2009 - 22
Latin Finance - September/October 2009 - OTPP Investment Strategy
Latin Finance - September/October 2009 - 24
Latin Finance - September/October 2009 - 25
Latin Finance - September/October 2009 - Central Bank Scorecards
Latin Finance - September/October 2009 - 27
Latin Finance - September/October 2009 - 28
Latin Finance - September/October 2009 - Brazil Liability Management
Latin Finance - September/October 2009 - Real Estate Equity Resurrected
Latin Finance - September/October 2009 - 31
Latin Finance - September/October 2009 - 32
Latin Finance - September/October 2009 - 33
Latin Finance - September/October 2009 - 34
Latin Finance - September/October 2009 - 35
Latin Finance - September/October 2009 - 36
Latin Finance - September/October 2009 - Structured Finance Forecasts
Latin Finance - September/October 2009 - 38
Latin Finance - September/October 2009 - Grim Outlook. Reform Required
Latin Finance - September/October 2009 - 40
Latin Finance - September/October 2009 - 41
Latin Finance - September/October 2009 - 42
Latin Finance - September/October 2009 - 43
Latin Finance - September/October 2009 - 44
Latin Finance - September/October 2009 - Banorte Seeks to Grow
Latin Finance - September/October 2009 - Peru Spending Hits a Block
Latin Finance - September/October 2009 - 47
Latin Finance - September/October 2009 - 48
Latin Finance - September/October 2009 - 49
Latin Finance - September/October 2009 - BCP Sees Better Days
Latin Finance - September/October 2009 - 51
Latin Finance - September/October 2009 - 52
Latin Finance - September/October 2009 - 53
Latin Finance - September/October 2009 - 54
Latin Finance - September/October 2009 - Caribbean Investment Report
Latin Finance - September/October 2009 - 56
Latin Finance - September/October 2009 - 57
Latin Finance - September/October 2009 - 58
Latin Finance - September/October 2009 - 59
Latin Finance - September/October 2009 - 60
Latin Finance - September/October 2009 - 61
Latin Finance - September/October 2009 - 62
Latin Finance - September/October 2009 - 63
Latin Finance - September/October 2009 - 64
Latin Finance - September/October 2009 - 65
Latin Finance - September/October 2009 - 66
Latin Finance - September/October 2009 - Sustainable Banking
Latin Finance - September/October 2009 - 68
Latin Finance - September/October 2009 - Legal Services Survey
Latin Finance - September/October 2009 - 70
Latin Finance - September/October 2009 - 71
Latin Finance - September/October 2009 - 72
Latin Finance - September/October 2009 - 73
Latin Finance - September/October 2009 - 74
Latin Finance - September/October 2009 - 75
Latin Finance - September/October 2009 - 76
Latin Finance - September/October 2009 - 77
Latin Finance - September/October 2009 - 78
Latin Finance - September/October 2009 - Parting Shot
Latin Finance - September/October 2009 - 80
Latin Finance - September/October 2009 - Cover3
Latin Finance - September/October 2009 - Cover4
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