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Bolivarian News Agency

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The expert, of Uruguayan origin, added that manage resources coming from the rest of the world with greater seriousness resulted in that Latin America has a high proportion of international reserves, surplus of current account, which joins a fiscal situation that in most of the countries of the zone is quite healthy. Also, Quenan explained that the crisis translates into a series of unfavorable external shocks such as the drop in prices of raw materials, low global trade and demand of developed countries, the decline in the amount of money that the region receives by concept of remittances, the expense of tourism, and so on, which adds to an increasingly difficult situation in terms of access to international financing. He added in an interview that make him the Bolivarian News Agency, (ABN) all that, it is a set of unfavourable shocks that are in relatively good condition compared with the situation in other regions of the world, Latin America Quenan said. In this regard, Quenan stressed that the region in principle, it seems stronger in the past in order to avoid finally monetary and financial crisis serious; and he argued that the effects of the global crisis for the region will depend on the depth and scope of the same. At the moment, the situation in Latin America seems pretty good, because somehow, it comes with pretty solid defenses comparatively to other times in the past, he noted. Quenan warned, however, that the situation of the Latin American region against the global crisis, is difficult, product of the fact that this crisis is has gone worse, accentuating and it has become widespread in recent months..

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