With the Brazilian meltdown still looming large, Latin American markets are grappling with what could become another crisis in the region: the millennium bug. Detailed information on Y2K preparedness is scarce, and some investors are consequently re-evaluating their involvement in Latin deals.

"In deals that we do, this is an issue that comes up in due diligence," said Winona Whong, cross-border investor at Citicorp.

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