NewsWhore
01-29-2009, 06:00 PM
Enrique V. Iglesias, former president of the Inter-American Development Bank (IDB), said yesterday that one of the greatest challenges facing Latin America at this time is to avoid losing the advances in economic growth achieved over the past 20 years, especially when it comes to stability and social improvements, as reported in Hoy. He also encouraged the government to continue implementing pending reforms and the modernization of the state.
Iglesias was speaking during the opening ceremony of the national summit convened by President Leonel Fernandez.
Iglesias said that until the global financial sector stabilizes, no measure would be effective to resolve the present crisis.
He pointed out that the financial collapse has even brought down risk assessment agencies that used to forecast market failures. He said that the International Monetary Fund and other international organizations should take on credit lines that are more flexible and entail fewer conditions.
Meanwhile, the eminent economist said he thought that the crisis obliges both large and small nations including the Dominican Republic, to draw up short and long-term goals leading to a new financial order.
In Iglesias's opinion, a regulatory system needs to emerge that is "better tuned" to focus and supervise economic resources. He said, nevertheless, that it was important to avoid protectionism and economic nationalism, because according to the former IDB president, these slow down economic recovery.
More... (http://www.dr1.com/index.html#5)
Iglesias was speaking during the opening ceremony of the national summit convened by President Leonel Fernandez.
Iglesias said that until the global financial sector stabilizes, no measure would be effective to resolve the present crisis.
He pointed out that the financial collapse has even brought down risk assessment agencies that used to forecast market failures. He said that the International Monetary Fund and other international organizations should take on credit lines that are more flexible and entail fewer conditions.
Meanwhile, the eminent economist said he thought that the crisis obliges both large and small nations including the Dominican Republic, to draw up short and long-term goals leading to a new financial order.
In Iglesias's opinion, a regulatory system needs to emerge that is "better tuned" to focus and supervise economic resources. He said, nevertheless, that it was important to avoid protectionism and economic nationalism, because according to the former IDB president, these slow down economic recovery.
More... (http://www.dr1.com/index.html#5)