IDB to loan $12 billion to Latin America in 2009
Written by thomas · Filed Under CommercialMarch 6, 2009
The president of the Interamerican Development Bank (IDB), Luis Alberto Moreno, told the media this week that the bank is increasing its loans to Latin America to $12 billion this year. According to Moreno, while the global crisis is affecting all countries worldwide, Latin American nations are better prepared to handle the crisis, which will have a positive impact on the economies in the region. He also stated that the IDB is in good shape which is proven by the record number of credit approvals during the past few months in the region. He is concerned about the drop in prices for basic products and the reduction in manufacturing exports as well as remittances from the United States. He is also worried about the possible drop in foreign tourism, while stating that he is optimistic about the region’s continued GDP growth in 2009.
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