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Latin America: Oasis in the desert

Written by thomas · Filed Under Commercial 

April 17, 2009

thomas

Is a fascinating article in Latin Business Chronicle from Knowledge@Wharton, published on April 8. The article begins with the following sub-heading: “Investors flock to Latin America, the region that is suffering the least from the ongoing financial crisis”. The article is a “must read” – and it is too lengthy to include all of its findings here. But the following statements should help to understand the meaning: “These days, the global financial market offers little opportunities for investors. But there are oases in every desert, and in this case, manna can be found in Latin America. That is the region that, for the time being, is suffering the least from the ongoing financial crisis. That fact, along with the engine of growth that Brazil has become, is enabling investors to find opportunities in Latin America that are unimaginable in Europe and the United States.” Another one which we found important is: “Overall, 13 investment funds have closed the first quarter of the year with gains of more than 20%, and more than 100 have profits of 10%.”

And finally a comment by David Tuesta, chief economist at BBVA and professor of economics at the Catholic University of Peru: “Certainly, these countries will hope that financial markets will become more peaceful before establishing relevant reforms. But they will enact them because they were already moving in that direction at an accelerated pace. All the economic data shows that Latin America is the best region that is doing the best job overcoming financial crisis.”

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