“No-one is sure yet to what extent Latin America will be affected by the Asian crisis but so far it’s resisted surprisingly well,” says George Cardona, general manager, international, at Midland Bank. “Every time Asia takes a drop so do the Latin American markets, but the impact has not been as serious as in Asia. The majority of Latin American countries look set for GDP growth of about 5%. The governments in most countries are doing all the right things.
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