No future crises and modest growth for Latin America
A new paper, which estimated the accumulated cost of past financial crises in the region at 16 percent of GDP over a period of 25 years, predicts financial stability going froward but drab growth.
Next week at the World Bank Nouriel Roubini may offer a second opinion on the subject.
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IMF, in the Global Financial Stability Report, April 2007, on page 15 says:
“The persistence of global imbalances brings with it an important financial stability issue—the problem of sustaining the financial flows needed to support the imbalances.”
I guess that, in circumstances like these, we need to take any prediction with more that the normal grain of salt… think more of a mountain!
Posted by: Per Kurowski | Apr 24, 2007 2:45:44 PM