{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='IMF says LatAm economies well placed to ride out financial storm' data-url='/boclips/videos/5c54c2b1d8eafeecae15b995' data-video-url='/boclips/videos/5c54c2b1d8eafeecae15b995' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nIMF says LatAm economies well placed to ride out financial storm\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eMexico City, Mexico - 6 October 2008 1. Wide interior of stock exchange2. Various of stock exchange index board showing share prices3. Various of traders Buenos Aires, Argentina - 6 October 2008 4. Mid of exterior of Buenos Aires stock...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eMexico City, Mexico - 6 October 2008 \u003cbr/\u003e1. Wide interior of stock exchange\u003cbr/\u003e2. Various of stock exchange index board showing share prices\u003cbr/\u003e3. Various of traders \u003cbr/\u003eBuenos Aires, Argentina - 6 October 2008 \u003cbr/\u003e4. Mid of exterior of Buenos Aires stock exchange\u003cbr/\u003e5. Traders on the floor\u003cbr/\u003e6. Various stock exchange board showing indexes last Monday\u003cbr/\u003eWashington DC, US - 8 October 2008\u003cbr/\u003e7. Mid of International Monetary Fund officials at news briefing \u003cbr/\u003e8. SOUNDBITE (English) Charles Collyns, Deputy Director in Research Department of the International Monetary Fund: \u003cbr/\u003e\"The public spending has risen quite rapidly in Latin America. But as you mentioned also, tax revenues have increased. So that these economies have been able to reduce their deficits and have been able to reduce their debt. They have been able to strengthen their public sector balance sheets quite significantly. This does provide them with more room than in the past to allow the automatic stabilisers to work in the context of a downturn.\"\u003cbr/\u003e9. Mid of International Monetary Fund officials on panel \u003cbr/\u003e10. SOUNDBITE (English) Charles Collyns, Deputy Director in Research Department of the International Monetary Fund: \u003cbr/\u003e\"Mexico, as other countries in Latin America, is proving resilient. We are not seeing any major stress or anything like a crisis situation that has occurred in previous episodes of stress. Mexican authorities will need to ride the storm. The growth is certainly slowed, but they are also aware of the higher rates of inflation in Mexico. We do see those rates of inflation coming down, and that will provide space for monetary policy action if needed.\"\u003cbr/\u003e11. Cutaway of camera crew at news briefing \u003cbr/\u003e12. SOUNDBITE (English) Charles Collyns, Deputy Director in Research Department of the International Monetary Fund: \u003cbr/\u003e\"The weakening of the exchange rate (in Brazil) by itself would tend to add to inflation pressures. On the other hand, however, with slower growth that will reduce pressures on excess capacity, which will have an opposite effect. Brazil is also a large, relatively closed economy, so the dominant effect is more likely to be the impact of the slower growth rather than the exchange rate. So, that may provide the central bank with room to shift away from its tightening bias that it has had over the past year are on so.\" \u003cbr/\u003e13. International Monetary Fund officials at the end of the news briefing \u003cbr/\u003eThe International Monetary Fund, said on Wednesday that Latin American countries were in good condition to deal with the global financial crisis, despite a third  straight day of shares diving in the region. \u003cbr/\u003eThe IMF, in a World Economic Outlook released on Wednesday, slashed growth projections for the global economy and predicted the United States - the epicentre of the financial meltdown - will continue to lose traction.\u003cbr/\u003eThe IMF projected the global economy will lose considerable speed, slowing to 3.9 percent this year, a forecast expected to weaken even more, to just 3 percent, the following year - marking the worst showing since 2002.\u003cbr/\u003eIn the past, the IMF has called global growth of 3 percent or less the equivalent to a global recession.\u003cbr/\u003eHowever the outlook for Latin America appears somewhat brighter, with the international financial body predicting a 4.5 percent growth in 2008 for the region. \u003cbr/\u003eCharles Collyns, the Deputy Director of the Research Department for Emerging Economies said Latin American economies were proving to be \"resilient\" to the global economic downturn. \u003cbr/\u003e\"We are not seeing any major stress or anything like a crisis situation that has occurred in previous episodes of stress,\" he said speaking at a news conference in Washington, DC.\u003cbr/\u003eAsked about Mexico, which due to its close links with the US economy might experience the strongest effects, Collyns said that the \"Mexican authorities will need to ride out the storm.\"\u003cbr/\u003e\"The growth is certainly slowed, but they are also aware of the higher rates of inflation in Mexico. We do see those rates of inflation coming down, and that will provide space for monetary policy action as needed,\" he explained. \u003cbr/\u003eCollyns warned of the dangers of the growing inflation and the pressures on the exchange rate in many regional economies.\u003cbr/\u003eBrazil is one of the countries most worried with the weakening of their currency against the US dollar but Collyns said the situation is manageable.\u003cbr/\u003eCollyns also added that Latin American countries won't feel too much pressure to cut down on public spending. \u003cbr/\u003e\"The public spending has risen quite rapidly in Latin America. But as you mentioned also, tax revenues have increased. So that these economies have been able to reduce their deficits and have been able to reduce their debt,\" he said.\u003cbr/\u003eAccording to the IMF, Latin America's inflation rate rose to 8 percent in August, the highest rate in five years.\u003cbr/\u003eInflation around the world remains high, driven up by surging energy and food prices through much of this year.\u003cbr/\u003eThe financial crisis, which erupted in the United States has quickly spread around the globe, entered a tumultuous new phase last month, badly shaking confidence in global financial institutions and markets, the IMF said. \u003cbr/\u003eIt has triggered a cascading series of bankruptcies, forced mergers and radical government interventions - such as the United States' unprecedented 700 (b) billion US dollar financial bailout - to stem the fallout.\u003cbr/\u003eThe new projections come before a gathering of the world's top economic powers on Friday and the weekend meetings of the IMF and the World Bank. \u003cbr/\u003eThe financial crisis is likely to figure prominently in those discussions.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator Rating\u003c/dt\u003e\n\u003cdd\u003e\u003cspan class=\"star-rating\" aria-label=\"3.5 out of 5 stars\" role=\"img\"\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star-half-stroke text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-regular fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003c/span\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt class=\"educator-rating-title\"\u003eEducator Rating\u003c/dt\u003e\u003cdd\u003e\u003cdiv class=\"educator-rating-details\" data-path=\"/educator_ratings/rrp_data?resourceable_id=1079522\u0026amp;resourceable_type=Boclips%3A%3AVideoMetadata\"\u003e\u003cspan class=\"not-yet-rated\"\u003eNot yet Rated\u003c/span\u003e\u003c/div\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eGrade\u003c/dt\u003e\u003cdd title=\"Grade\"\u003eHigher Ed\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eSubjects\u003c/dt\u003e\u003cdd\u003e\u003cspan\u003e\u003ca href=\"/search?grade_ids%5B%5D=259\u0026amp;search_tab_id=1\u0026amp;subject_ids%5B%5D=358379\"\u003eSocial Studies \u0026amp; 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