With its shallow banking sector and limited debt—the legacy of decades of economic turmoil—the direct impact of the 2008 credit crunch was minimal in most Latin American countries. The second-round effects of the crisis, however, were clearly evident, with investment inflows drying up and exports to major markets slumping as the de- veloped world slid into recession.
Yet the region remained relatively resilient. Emmanuel Besserve, co-founder of Mercatrade, an online b2b marketplace con- necting importers and exporters in Latin America, says the crisis caused a deceleration in growth among the region’s traders rather than an outright recession: “First companies eliminated their stock, then very quickly, by 2010, they were all buying again.”
Latest macroeconomic data support the idea of a robust recovery, with regional GDP set to rise by 4.2% in 2011. But another feature of Latin America’s newfound....
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Latin American Infrastructure
Latin Art Investment: 2011
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