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Article: Wanted: a new regional agenda for economic growth; Latin America.(The debate on Latin American economic reform)
- Article from:
- The Economist (US)
- Article date:
- April 26, 2003
CopyrightCOPYRIGHT 2003 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The "Washington consensus" is a damaged brand. But its chief mistake was in not pushing Latin American reform far enough
SIX months ago, such was the gloom about Latin America that investors and international finance officials were asking whether it would be Brazil, the region's giant, or one of three or four of its neighbours, that would be next in line to follow Argentina into debt default. Now, that pessimism looks wildly overdone. Brazil has stepped back from the brink: its currency and its bonds have rallied strongly, after its new centre-left government committed itself to tight fiscal and monetary policies. With risks and sluggishness elsewhere in the ...