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Too Early to Lower the Guard: Latin America and the Global Financial Crisis

December 14, 2009

CLAAF

Latin America’s response to the global financial crisis has been remarkably strong. But rising fiscal deficits and sovereign debt in the United States and parts of Europe could pose fresh challenges. The Latin America Shadow Financial Regulatory Committee, a group of former senior Latin American policymakers chaired by CGD senior fellow Liliana Rojas-Suarez, recently took stock of these risks and offered practical advice for the region’s governments: be cautious and maintain strong external liquidity positions.

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