Shaping up for the Latin test

2009 will be a testing year for economies and markets around the world, but perhaps more so for Lati...

2009 will be a testing year for economies and markets around the world, but perhaps more so for Latin America, a region which has a track record of vulnerability to external shocks. Fortunately, the region's major economies now boast more solid fundamentals than they did a decade ago. A commitment to orthodox fiscal and monetary policies from governments and central banks has seen inflation fall significantly in countries such as Brazil, Chile and Mexico, creating an environment conducive to domestic growth and investment. Strong demand for commodities has led to trade surpluses. Tax ...