Chilean pension funds are in no position to give advice

Though Since its inception in 1981, over a quarter of a century ago, Chile’s private pension fund system (the AFPs), has attracted a lot of international attention, mainly as a “great pioneering success”. This has permitted many Chileans to make a good living as “miracle consultants”, advising governments and multilateral agencies on how to reform […]

Country Risk Analysis: Time for a New Approach

Though perceptive people have been analyzing country risk since times immemorial (observations of many famous travelers since Antiquity who have left us their memoirs often include useful information in that sphere), the formalization of the exercise is only a few decades old. The re-emergence of sovereign lending in a big way from the late 1960’s, […]