Latin America Has Learned How to Fight a Financial Crisis
When the rest of the world’s economies catch a cold, the region’s have tended toward pneumonia. So far, despite stubborn inflation and rapidly rising interest rates, that hasn’t happened. What gives?
Still holding strong.
Photographer: Pedro Pardo/AFP via Getty Images
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Inflation runs rampant around the world. US interest rates, the most powerful force driving money across borders, from which no economy can hide, rise faster than at any time in 40 years, taking a clutch of banks down in their path.
Not least in Latin America, you might expect economic chaos to have ensued.