South Latam set to weather crisis-World Bank

by Dave

Markets | Economy | Reuters

Strong fiscal surpluses in the nations of southern Latin America place them in good stead to weather global economic turbulence, World Bank regional director Pedro Alba said on Thursday.

Alba said Latin America in general and the countries he covers – Argentina, Chile, Uruguay and Paraguay – were better prepared, for example, than they were during the Asian economic crisis in the late 1990s.

“All these countries and Chile in particular have large fiscal surpluses, they have important reserves in fiscal terms, and at the central bank level they are well regulated,” Alba said