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Latin America has a “very resilient” financial system, says IDB president

Latin America has a “very resilient” financial system, says IDB president

The president of the Inter-American Development Bank (IDB), Ilan Goldfajn, said on Wednesday that Latin America has a financial system “very resilient and supervised”, after the uncertainty generated after the collapse of Silicon Valley Bank (SVB) and problems with financial institutions in the United States and Europe.

The recent bankruptcies of BLSvalued at US$ 209,000 million, and Signature Bank, unleashed fears throughout the financial system despite the efforts of the United States government to give guarantees to depositors to try to mitigate contagion.

On Wednesday, Credit Suisse shares plunged more than 25%, putting Swiss authorities under pressure to intervene in the bank.

The region has a highly resilient and supervised financial system. The region has given a very good example of how the financial system is managed“, said goldfajn in Panama City, where the annual meeting of the IDB.

We hope that we are prepared for what is coming, which is not a surprise.”, he added.

Leaders of the 48 member countries of the IDB participate in the event in which it is planned to launch the region’s annual macroeconomic report. Topics under discussion include poverty and inequality; climate crisis and green transition; biodiversity; gender, diversity and inclusion; sustainable and inclusive infrastructure; and regional integration.

Source: Gestion

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