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Latin America and the Global Crisis

1. Agenda. Global trendsKey channels of transmissionIs Latin America well prepared?Policy optionsConclusions. . 2. Agenda. Global trendsKey channels of transmissionIs Latin America well prepared?Policy optionsConclusions. . 3. With inventories of unsold homes at near-record highs and unemployment still rising, house prices are expected to continue dropping.

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Latin America and the Global Crisis

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    1. 0 Latin America and the Global Crisis Mauricio Cárdenas Director, Latin America Initiative The Brookings Institution Inter-American Development Bank Advances in debt management under current international financial crisis framework October 31, 2008

    2. 1 Agenda

    3. 2 Agenda

    4. 3 With inventories of unsold homes at near-record highs and unemployment still rising, house prices are expected to continue dropping

    5. 4 Global financial markets are on the brink

    6. 5 Given negative growth in Q3, and prospects for Q4, few doubt that the US has entered a recession

    7. 6 And large risks to the forecast

    8. 7 Agenda

    9. 8

    10. 9

    11. 10

    12. 11

    13. 12

    14. 13

    15. 14 Commodities exposure: Wide variation

    16. 15

    17. 16 Domestic financial intermediation is not immune

    18. 17

    19. 18 Agenda

    20. 19

    21. 20

    22. 21 Given all these considerations, growth is now set to slow

    23. 22 Agenda

    24. 23

    25. 24

    26. 25 Can monetary policy be countercyclical?

    27. 26 The role of fiscal policy

    28. 27 Can fiscal policy be more expansionary?

    29. 28 Agenda

    30. 29 And emerging economies have decelerated

    31. 30 Inflation rose and current accounts weakened

    32. 31 Economic prospects for Latin America

    33. 32 Latin America and the Global Crisis Thank you

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