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.