by Karen Schwartz
The Right Moves
Colombia comes out on top in this year’s ranking, after Minister Echeverry shows pragmatism and political savvy to push through fiscal reform.
While Europe teetered, Latin America's governments have been
mostly well regarded for shrewd debt issuance, liability
management and, in a few cases, significant fiscal reforms.
The third annual LatinFinance Finance Ministry Scorecard
takes the views of economists, analysts and investors on
ministries' performance across several areas, including
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 innovations.
This year Colombia leads the pack of countries receiving
positive feedback, along with Peru, Uruguay and Chile. Minister
Juan Carlos Echeverry, who arrived in June 2010 with the new
government of Juan Manuel Santos, is seen as moving in the
right direction in a rapidly expanding economy that saw
internal demand growing sometimes above 11%.
"He knew what he had to do," says Drausio Giacomelli,
managing director and head of emerging markets...
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