Citi Says Latin American Stocks Should Rise by 10-15% in 2010

In a recent note, Citigroup (NYSE:C) said that as lending costs rise Latin American stocks, which almost doubled in value in 2009, may return 10-15% this year

Banorte Writes Off MXP 1 Billion Loss on Loans to Comercial Mexicana

Mexico's Banamex,the country's second largest bank, a 100% subsidiary of Citigroup Inc. (NYSE:C), reported that although it is still taking legal action through bankruptcy procedures, it has decided to officially write off losses worth MXP 1 billion (US$77 million) on loans to Contralador Comercial Mexicana S.A. de C.V. (BMV:COMERCIUBC), a troubled Mexican supermarket operator that was wracked by charges worth MXP 6.3 billiion (US$ 500 million) from bad currency bets made in late 2008.

Mexico's Supreme Court May Force Citi to Sell Banamex

Mexico's supreme court is debating whether or not the U.S. government's 34% stake in Citigroup Inc. (NYSE:C), which is the 100% owner of Banamex, a highly profitable Mexican banking operation, violates Mexican laws governing domestic bank ownership by foreign governments.