Lat Am remains on a steady path

Having enjoyed a phenomenal 2003, most market watchers were expecting a less than spectacular year for Latin American equities in 2004. However, the MSCI EMF Latin America Index returned 39.6% (in US dollar terms) in 2004, again leaving both developed and emerging markets trailing in its wake. For the first time in over a decade, the region's two biggest economies, Mexico and Brazil, managed to coincide and grow substantially in 2004. Argentina and Venezuela also continued their recoveries from their (self-inflicted) economic crisis. However, it was Colombia that posted the strongest re...