Jun 23

Past Event

Latin America and the Economic Crisis

Event Materials

Video

Highlights

  • Chile Has Been Proactive in the Global Economic Crisis

    Michelle Bachelet, President of Chile: Chile has been proactive in its effort to manage the global economic crisis and has implemented a thoughtful and fluid stimulus package to help restore fiscal stability.

  • In Hard Times Government Must Step In

    Michelle Bachelet, President of Chile: In hard economic times such as these, the government must be ready and able to step in with solid public policy for reform and assistance.

  • Chile Has More Assets than Liabilities

    Andrés Velasco , Chilean Minister of Finance: Chile now has more assets than liabilities; the Republic has been able to achieve net-creditor status by enforcing a strategic counter-cyclical policy.

  • Latin America Experiencing Contraction and Job Loss

    Mauricio Cardenas: So far this year, most of Latin America has felt the sting of continued output contraction and job loss, which shows that the economy isnt readily improving.

    Mauricio Cárdenas

Audio

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Summary

At the end of 2008, countries in Latin America and the Caribbean adopted a variety of economic policies to offset the effects of the global financial crisis. Tailored to the needs of their unique economic systems, these countries adopted measures that range from the implementation of monetary policies to the enactment of full-scale stimulus plans by larger economies such as Chile, Brazil and Argentina. Almost nine months into the crisis, are Latin America’s policies yielding positive results?

On June 23, the Brookings Institution hosted Her Excellency Michelle Bachelet, president of the Republic of Chile, for a discussion of Latin America and the global financial crisis. Prior to President Bachelet’s remarks, a panel of experts including Mauricio Cárdenas, senior fellow and director of the Latin America Initiative at Brookings, and Andrés Velasco, minister of finance of Chile, provided an assessment of the current economic landscape of Latin America and an evaluation of the economic policy responses adopted by countries in the region.

Kemal Derviş, vice president and director of Global Economy and Development at Brookings, provided introductory remarks and moderated both discussions.

Event Agenda

Details

June 23, 2009

10:00 AM - 11:50 AM EDT

The Brookings Institution

Falk Auditorium

1775 Massachusetts Ave., NW

Map

For More Information

Brookings Office of Communications

(202) 797-6105