Latin America will suffer more from the U.S. recession as time goes by, Mexico's topbanker said Wednesday at the World Economic Forum.
According to Guillermo Ortiz, governor of the Central Bank of Mexico, the U.S. economy was in a recession now. Although its effects so far have been muted in most of the Latin America, more problems could arise as things continue to worsen in the United States, he said.
However, he also said Latin America is better prepared comparedwith other regions in the world as the problems of the U.S. economy, troubled by a financial turmoil, are leading into a global economic crisis.
Source:Xinhua
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