Bloomberg News

Latin America Countries ’Well-Prepared´ for Crisis, Moody’s Says

October 06, 2011

Oct. 6 (Bloomberg) -- Most Latin American nations are “well-prepared” to confront a worsening debt crisis in Europe and slower growth in the U.S., Mauro Leos, senior analyst for Latin America at Moody’s Investors Service Inc., said.

Mexico and Colombia, along with the nations of Central America, are likely to be hardest hit by any global crisis as a result of their close ties to the U.S., Leos said in an interview today in Buenos Aires.

Argentina, which hasn’t had access to international debt markets since a 2001 default, and doesn’t have a contigency credit line with the International Monetary Fund, has more limited options to face a global slowdown, Leos said.

China, which is a principal buyer of Latin American commodities, has helped provide a “minimum level” of support for the region’s economies, Leos said.

To contact the reporter on this story: Camila Russo in Buenos Aires at crusso15@bloomberg.net

To contact the editor responsible for this story: Bill Faries at wfaries@bloomberg.net


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