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BANKING

Latin America market round up: Slim says LatAm governments need more investment

One man not joining the cult of Chávez is Latin America’s richest man, Carlos Slim.

Speaking at a conference on March 22, Slim said that the chances of other countries in the region following an extensive pattern of nationalization as Venezuela has done were low. "It would be a step back," said Slim, arguing that Latin American governments are afraid of scaring off private investment. He named Brazil’s Lula and Peru’s Alan García as model leftist heads of state with a good understanding of the financial markets.

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