Latin America well protected from world economic crisis, says IADB Luis Alberto Moreno.
Inter-American Development Bank President Luis Alberto Moreno (REUTERS/Gerardo Garcia)
Latin America is well insulated from Greece’s debt crisis, though its exports might suffer if the European currency continues to fall, Luis Moreno, head of the Inter-American Development Bank, said on Monday.
The region’s currencies have risen as the euro retreats, making Latin American exports less competitive, although rising commodity prices have been beneficial for many countries.
“Clearly there are no Latin American banks holding major pieces of Greek debt. Nor is there a lot of trade with Greece,” Moreno told…READ MORE HERE