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Region can build buffers against crisis: Iglesias

Monday, August 20, 2012

Latin America has started to feel the effects of the global economic crisis, even though it still hasn't come into full effect in Europe and United States and even China.

"That's why South and Central America should promote reforms to improve their competitiveness and efficiency, to be able to cope and even continue to grow in case the world doesn't go into full economic crisis, said Enrique Iglesias, secretary-general of the Ibero-American Cooperation Secretariat.

However, this doesn't guarantee bad news, as most of the countries in the region have diversified their economies and are better prepared to sustain an economic blow, Iglesias added.

Full story (in Spanish)