| Malcolm Night
Speech by Malcolm Knight, General Manager of the BIS, at the Toronto Centre Executive Forum, 9 November 2004
Mexico has taken the lead when it comes to attracting new investors to domestic bond markets. But with rising rate expectations set to make dollar markets less attractive, there are several positive signs in the region's other local bond markets
Huge. Massive. Vast. Pick any of these words and it would more than adequately describe the need for infrastructure in Latin America and the Caribbean. But having failed to take advantage of the boom years to finance major projects, governments now need to look to the private sector to fill the gap.
Chinese officials in Beijing are growing increasingly unhappy with the government’s policy of offering cheap loans without conditions to troubled Latin American states that might never be able to repay them.
LatAm delegates who struggled with the 40-hour journey to get the IADB meetings in Busan are likely to return with harsh lessons on trade tariffs rather than a recipe to replicate South Korea’s economic miracle.
Now that the a decade-long economic boom has come to an end, Latin American countries are looking to engage with the World Bank to deal with development challenges amid more complex external conditions
There is still pessimism in the business community but I feel the central bank and finance ministry are trying to get closer to the private sector in order to lift confidence
Paulina Yazigi Salamanca, Credicorp
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