Teflon Economies

Teflon Economies

Martin RedradoIn a context of growing global economic imbalances, overwhelming high prices of both financial and real assets, greater uncertainty about monetary policy and increasing protectionism in world trade, the outlook is clearly biased towards higher risk. This scenario, while not explosive (economic growth is more geographically balanced and international interest rates are at historically reasonable levels despite recent hikes), is here to stay. This new environment finds Latin America in a solid financial position with sustained growth and twin surpluses (fiscal and external) strengthened by consistent and prudent monetary policies. This time it does not appear on the r

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