We also are excited by the work of Proyecto Capital in Latin America.
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They just provided the liquidity for rich Latin American nationals to get their capital out.
The foreign capital that flowed into Latin America in the past year has been hoarded rather than spent.
The difference is that Brazil's market is open and drawing in enormous amounts of foreign capital, says Citigroup Latin America strategist Geoffrey Dennis.
He secured a 42% premium to FleetBoston's current share price (the mark-up is usually 20-30%), and this for a bank that has had to recover from a string of strategic mistakes: FleetBoston is now focusing on consumer finance after losing a packet in more exotic businesses, such as Latin American debt and dotcom venture capital.
The data is consistent with capital outflows from Asia, Latin America, Eastern Europe, and the Middle East, the strategists said.
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In the past few years, the World Bank, the IDB and the IMF have had little work to do in Latin America because governments could raise money in the capital markets.
The Latin Kingdom of Jerusalem may have only kept its capital of Acre for a further 19 years after 1272, but any time-travelling knight making a nostalgic return to modern-day Akko, on Israel's Mediterranean coast, will find much of the city they knew still standing.
Latin American business is hot, hot, hot and capital expenditures are totally under control.
Guerra co-founded Bulltick Capital Markets, a Miami investment bank specializing in Latin America, which was the owner of Quantek Asset Management.
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It is also largely futile to try to stop capital flight from Russia, just as it was from Latin America in the 1980s.
After all, Latin American companies are no longer just competing with each other for capital, but also with companies in other emerging markets, such as South Africa and India.
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In Cali, Colombia, the self-proclaimed salsa capital of the world, life revolves around the rhythms of Latin music.
At the same time, and despite their recent growth and globalisation, the economies of Latin America depend on the far bigger one of the United States for capital, know-how, technology and remittances.
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That's partly due to the development of the capital markets over the past decade in places like India and Latin America, making it easier for a company to make long-term investments in those areas, says Colleen Harkness, a managing director with GE's Energy Financial Services unit.
As global financial markets become increasingly integrated, and Latin American companies try to attract the attention of international investors, competition for capital is becoming increasingly fierce.
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Bart van Ark, executive director for economic research at The Conference Board, says Latin America still needs to develop more labor-oriented industries to complement the capital-intensive telecom and mining sectors.
The AFJP system in Latin American has helped create a vast stock of domestic savings that can fund local capital markets and lend money for projects like toll roads.
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The 26th "Audiovisual Universe of Latin American Childhood" Seminar is taking place from 10 to 14 December in the Cuban capital.
One reason for the WSF being held in India's finance capital is the need to make the movement, so far dominated by Europeans and Latin Americans, more representative and inclusive of some of the world's poorest people and countries.
In the Cuban capital, Havana, Nagin plans to meet with several officials, including some from the Latin American Medical Centers for Disaster.
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The difference is that Brazil's market is open and drawing in enormous amounts of foreign capital, says Citigroup (nyse: C - news - people ) Latin America strategist Geoffrey Dennis.
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