LatAm Finance Ministers Face New Challenge

Apr 1, 2011

Praised for a speedy earthquake response, Chile again leads the LatAm finance ministry pack. Capital controls hurt Brazil, while Argentina finally draws some praise.

by Ben Miller

With most economies safely out of the woods amid continued external pressure, LatAm governments faced new challenges in 2010, including natural disasters and currency wars. Finance ministers responded in different ways to a deluge of capital heading their way, with some measures drawing more praise than others in the second annual LatinFinance Finance Ministry Scorecard.

The ranking takes the views of economists, analysts and investors on ministries’ performance across several areas. These include response to currency appreciation, inflation management, fiscal performance, independence from political pressure, transparency and clarity of communication with markets, as well as use of capital markets and financing innovation.

Last year’s top ranked finance ministry, Chile, was shaken by a new challenge on February 27 2010: an 8.8 magnitude earthquake. Minister Felipe Larraín and the rest of the new administration taking office in March would have their work cut out for them. With...

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