This time last year the financial services industry in Latin America was in the middle of a golden period, and as the first few months of 2008 pass there are still glimmers of hope that the region will continue to shine despite storm clouds gathering over the US.
Strong balance sheets for banks and corporates; a commodities boom, albeit one probably entering its final stage; and improved fiscal accounts for many of the region’s countries put Latin America in a strong position to cope with a US recession. But there is also cause for concern. Irrespective of whether one buys into the decoupling argument or not, one thing is...
