Zedillo Says Latin America Growth Too Reliant on Commodities

Latin American nations need to diversify and develop their economies after relying too much on surging commodity prices for growth, said Ernesto Zedillo, the former president of Mexico.

“We have been riding on this commodity boom, and that put us to sleep about all the structural problems that we haven’t addressed,” Zedillo, a professor at Yale University, said today on a panel at the International Monetary Fund and World Bank meetings in Washington. “Even if the worst disaster doesn’t happen I fear we will have in front of us a difficult decade, sooner or later.”

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