In years past, the International Monetary Fund would bail out Latin American nations on the brink of economic disaster, including Brazil, which was often hammered by international crises and its own fiscal mismanagement.
But this past week, the new director of the Washington-based multilateral lender, Christine Lagarde, visited Brazil, fast-growing Peru and economically solid Mexico to praise the region’s macroeconomic management and take steps to ensure that Latin America is not infected by Europe’s debt crisis. Brazilian and Mexican financial officials also told reporters their countries are leaning toward contributing to the IMF’s war chest, as Lagarde, who is French, determines how the lender will assist Europe.
Read the whole story at Washington Post
Advertisement - story continues below
