The Institute of International Finance believes that Latin America’s strong performance in the past economic crisis shows that the region is well placed to withstand downturns and that new international banking rules might damage its economic prosperity. Speaking at the launch of the IIF’s annual Latin American Regional Overview, Rich Waugh, vice-chairman of the banking lobby group’s board of directors and president and chief executive of Scotiabank, said: “We definitely support the need for an improved regulatory framework and that includes bank capital where necessary, but that should not mean that well-managed banking systems should be suffocated for some rules that were prescribed for other economies and other business models.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
