Action needed to avert Latin American banking crisis – report

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Bogota

Bogotá, Colombia. The country’s finance minister says the number of insolvent firms “could easily double”

Latin America could be heading for a systemic banking crisis if authorities do not confront threats to financial stability head on, a new report warns.

Many governments across the region have taken action to support their economies, and central banks have eased policy. But intense strains on banks could lead to failures that supervisors are not fully equipped to tackle and governments have little fiscal room remaining, the report by the Inter-American Development Bank and Center for Global

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