While the developed world goes through a credit contraction, triggered by the crisis in the US real state market, in Latin America consumption keeps growing and credit flows like never before, ECLACs Economic Development Division, Director Osvaldo Kacef, said Thursday.
Foreign investment in Latin America rose by 46 percent during 2007, reaching 106 billion US dolar. Brazil led the list of beneficiaries with 34 billion, followed by Mexico 23 billion, Chile 14,46 billion, Colombia 9,03 billion and Argentina 5,72 billion dollar.
The figures were provided by the Cuatrecasas law firm, which last week gathered almost one hundred individuals responsible for investment projects in Latin America at the Private Equity Climate in Latin America conference.
Meanwhile, food manufacturers in Mexico have promised to freeze prices on many of their most commonly consumed products until the end of the year. President Felipe Calderon presented the measure as an important contribution to ameliorating (mildne) the local effects of the global food crisis.
Kilde: www.worldbank.org
