Bloomberg News

Latin America Monetary Policy ‘First Line of Defense,’ IMF Says

October 19, 2011

Oct. 19 (Bloomberg) -- Monetary policy is Latin America’s “first line of defense” against further deterioration of the global economy, Nicolas Eyzaguirre, director of the International Monetary Fund’s Western Hemisphere department, said today.

Chile’s central bank is in a good position to control inflation, he told a conference in Santiago. The strength of Chile’s fixed-income securities shows the country’s macroeconomic credibility, the former Chilean finance minister said. South American countries including Chile, Peru and Colombia have managed the crisis well, he said.

To contact the reporter on this story: Randall Woods in Santiago at

To contact the editor responsible for this story: James Attwood at

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