A Washingtonpost.com editorial quotes CGD President Nancy Birdsall on the impact of the financial crisis on Latin American.
From the article:
"In other countries, decisions over spending will be harder, but the good news is that most Latin American nations have some wiggle room because of the belt-tightening that they've been doing in recent years. While running deficits may be "a little riskier" for Latin America due to its long history of inflation and the potential loss of confidence in the currency or the market as a whole, it shouldn't be avoided, according to Nancy Birdsall, president of the Washington-based Center for Global Development. To counter the cycle, spending on infrastructure or unemployment insurance would prove a smart investment, she added."
Read the article
