Political Risk Latin America Blog @PolRiskLatam

Latin America Has ‘Little New Debt,’ Moody’s Says

Posted in News and Articles, Political Risk by politicalrisklatam on January 27, 2010

by Veronica Navarro Espinosa, for Business Week, January 20, 2010.

Jan. 20 (Bloomberg) — Latin America emerged from the global financial crisis without a large increase in its debt level, Moody’s Investors Services said.

“Latin America and the Caribbean have come out of the crisis with relatively little new debt, especially when compared to more developed parts of the world, leaving the region in a good position at the start of 2010,” Moody’s said in a statement. “For the first time in years, if not decades, a major crisis has passed without substantial increases in the regional debt burden or a fall in international reserves.”

In Latin America, debt has climbed 3 percentage points to 37 percent of gross domestic product since 2007, Moody’s said in the report. Debt more than doubled to 41 percent of GDP in Eastern Europe during the same period. Public debt will average more than 118 percent of gross domestic product in the Group of 20 advanced economies by 2014, up 40 percentage points from 2007, the International Monetary Fund said Nov. 3…(continue reading)

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