In light of Latin America’s historic vulnerability to even minor tremors in external markets, all eyes in the region are on the current U.S. subprime credit crisis and any possible fallout in the hemisphere. Most indicators point to relatively minor repercussions in Latin American economies: regional money and bond markets remain steady, and economists predict that growth will slow—but only by a bit. While exports will likely decline and inflationary pressures remain a concern, this relatively benign impact raises the questions: What is different this time around? Will some countries fare better than others in riding out the crisis? In looking forward, how can policymakers in the region further reduce vulnerability to external crises?
On May 29, 2008, AEI will host Anoop Singh, director of the Western Hemisphere department at the International Monetary Fund, to discuss these and other issues. Nancy Lee of the Center for Global Development and AEI’s Desmond Lachman and Roger F. Noriega will comment on the risks and opportunities posed by the U.S. subprime crisis to Latin America. AEI’s Megan Davy will moderate.
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