Finance

In December, members of the Latin American Shadow Financial Regulatory Committee (CLAAF) convened at CGD to discuss global financial and monetary developments affecting Latin America. The CLAAF, which meets here twice a year, usually offers policy and regulatory recommendations for finance ministers...

Conventional wisdom has it that when the United States catches a cold, Latin America gets pneumonia. But when the United States caught financial pneumonia in 2008, Latin America escaped with little more than a cold. What’s changed?