What If the United States Sneezed and Latin America Didn't Catch a Cold?
About This Event

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.

8:45 a.m.
Special Remarks:
Anoop Singh, International Monetary Fund
Desmond Lachman, AEI
Nancy Lee, Center for Global Development
Roger F. Noriega, AEI
Megan Davy, AEI
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AEI Participants


  • Desmond Lachman joined AEI after serving as a managing director and chief emerging market economic strategist at Salomon Smith Barney. He previously served as deputy director in the International Monetary Fund's (IMF) Policy Development and Review Department and was active in staff formulation of IMF policies. Mr. Lachman has written extensively on the global economic crisis, the U.S. housing market bust, the U.S. dollar, and the strains in the euro area. At AEI, Mr. Lachman is focused on the global macroeconomy, global currency issues, and the multilateral lending agencies.
  • Phone: 202-862-5844
    Email: dlachman@aei.org
  • Assistant Info

    Name: Emma Bennett
    Phone: 202.862.5862
    Email: emma.bennett@aei.org


Roger F.
  • Roger F. Noriega is a former assistant secretary of state for Western Hemisphere affairs (Canada, Latin America, and the Caribbean) and a former U.S. ambassador to the Organization of American States. He coordinates AEI's program on Latin America and writes for the Institute's Latin American Outlook series.

    Follow Roger Noriega on Twitter.
  • Email: rnoriega@aei.org
  • Assistant Info

    Name: Alex Della Rocchetta
    Phone: 202-862-7152
    Email: alex.dellarocchetta@aei.org
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