Wednesday, October 28, 2009

Latin America's economic rebels

Mark Weisbrot

Among the conventional wisdom that we hear every day in the business press is that developing countries should bend over backwards to create a friendly climate for foreign corporations, follow orthodox (neoliberal) macroeconomic policy advice and strive to achieve an investment-grade sovereign credit rating so as to attract more foreign capital.

Guess which country is expected to have the fastest economic growth in the Americas this year? Bolivia. The country's first indigenous president, Evo Morales, was elected in 2005 and took office in January 2006. Bolivia, the poorest country in South America, had been operating under IMF agreements for 20 consecutive years, and its per-capita income was lower than it had been 27 years earlier.

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1 comment:

Nob said...

It's out of context but watch this nun (medic and politic activist)'s "alarming" video about the phenomenon AH1N1 Saludos.