Investors Flock to Latin America as Region's Economies Shape Up

By Guy Halverson, writer of The Christian Science Monitor | The Christian Science Monitor, May 2, 1994 | Go to article overview

Investors Flock to Latin America as Region's Economies Shape Up


Guy Halverson, writer of The Christian Science Monitor, The Christian Science Monitor


LATIN America is a region facing many economic and political challenges. For example, Mexico is in the throws of a contentious election, Brazil is fighting stubborn high inflation, and the new Venezuelan government is struggling to give foreign investors greater access to the nation's once-off limits oil and industrial sectors.

Still, many Wall Street experts now view the region as one of the most promising "emerging markets" of the mid-1990s. "We see this as an excellent time to be acquiring shares in Latin America," says C. Thomas Tull, chief operating officer and a principal with Gulfstream Global Investors Ltd.

Gulfstream, based in Dallas, has about $100 million in assets under management.

Mr. Tull, who frequently travels to nations south of the Rio Grande River, sees Latin America, along with the Pacific Basin, (excluding Japan), and eastern Europe as providing the "engines of growth of the future world economy."

Latin America's financial promise, he says, is threefold: a rising population which will increase consumer spending; massive capital outlays needed for development of roads and ports and for other infrastructure projects; and on-going economic structural changes, as new industries, many of them from North America, Europe, and Asia, move into the region.Tull is not alone in his optimism. A new study by the World Bank sees annual growth of about 3.4 percent in Latin America and the Caribbean over the next 10 years. And private forecasting firms anticipate a somewhat similar pattern.

David Rolley, an economist with DRI-McGraw Hill, an economic consulting firm in Lexington, Mass., says that a number of Latin American markets should be particularly promising for equity investors in the next few years.

Mr. Rolley singles out Argentina and Columbia, as well as Mexico and Brazil. …

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Investors Flock to Latin America as Region's Economies Shape Up
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