Article: After the Fall in Latin America, There Is Nowhere to Go But Up

Aline Sullivan
International Herald Tribune
03-13-1999
INVESTING IN Latin America can break your heart. Ask anyone invested in Ecuador, where this week the government tried to stem a run on the banks by announcing a surprise two-day holiday. Ask anyone invested in Brazil, where so far this year the currency has plunged nearly 40 percent against the dollar. Indeed, ask anyone who invested in oil-dependent Venezuela over the past two years.

It is enough to make a grown investor weep. But the sensible ones are drying their eyes and taking a new look. The International Monetary Fund's decision this week to back Brazil with a $41.5 billion credit line is the signal many professional investors ...

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