Well, yesterday it was Korea with good news in 1999 and now, today we get good nes for Latin America. Uh.... is Japan learning anything from this? Jeff
Officials Say Latin America Weathers Financial Turmoil
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MEXICO CITY (Dec. 10) XINHUA - Senior officials with economic institutions said Thursday that countries in the region have "successfully" weathered the international financial turmoil.
Jorge Mattar, regional advisor for the Economic Commission for Latin America and the Caribbean (CEPAL), said the region has gone through a financial crisis, but it has come out of it unscathed.
The region underwent stock market volatility when it was hit by the Asian financial crisis, but the economy is growing in a healthy way, he said.
Though Brazil does have some problems this year with a 0.5 percent growth rate, most of the countries have a healthy economic growth.
This is due to the timely economic adjustment of the countries in the region and to the end of short-term speculation on capital, he added.
Rodolf Buiteleaar, head of CEPAL's Industrial Development Unit, agreed with Mattar, saying that Latin America has been attracting foreign investors, surpassing Asia, despite the negative effects of the Asian financial crisis.
He said that Brazil and Mexico will still be the countries that attract the most direct foreign investment in the region in the coming years.
Mexico has received nearly 8 billion dollars in direct foreign investment this year. Enditem
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