Not least in Latin America, you might expect economic chaos to have ensued. Compared with the Federal Reserve, central bankers across Latin America look like steely-eyed monetary hawks. Latin America has been through the fire of financial crises too many times to allow itself to give in to another one without a fight. “Increases in international interest rates are never good news for emerging economies, and for Latin America in particular,” Reinhart said. Martin Castellano, chief economist for Latin America at the Institute of International Finance, underscores the value of Latin American institutional stability in the face of political challenges.

Source: Washington Post April 08, 2023 18:12 UTC