Global downturn should have 'minimal' impact in Latin America
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The global economic downturn which began with the US sub prime mortgage crisis should have a limited impact on Latin American and Caribbean (Lac) economies, thanks to the high prices of commodities, greater diversity between economies in the region and strong global trade, the Latin Business Chronicle has reported.
According to the news provider, many countries in the Lac region "stand to reap the benefits" of the sound economic policies which they have implemented in recent times, helping them weather the credit crunch over the coming months.
The journal reported that although the current economic climate may prove challenging, "the relative health of the region should not be undermined by the US crisis" and it could also "provide an impetus to complete the unfinished business of building more modern, resilient economies".
In related news, the Latin Business Chronicle recently reported that a number of multinational companies have seen strong growth in sales in Latin America in the first quarter of this year.
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