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UPDATE 1-Americas economic leaders shore up crisis response

Sat Jul 4, 2009 4:03am IST
 
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By Rodrigo Martinez and Terry Wade

VINA DEL MAR, Chile, July 3 (Reuters) - Finance ministers from the Americas and multilateral lenders sought to shore up responses to the global economic crisis on Friday and pave the way for a vigorous recovery.

The event in Chile was the second gathering of finance ministers from the Americas after one last year in Mexico.

The International Monetary Fund said it is becoming more optimistic about the world economy in 2010 despite rising unemployment.

Economists in the region say Latin America could also return to growth sooner than other regions because it is rich in commodities exports.

Chile, the world's No. 1 copper producer, has won praise for building up savings from high metals prices during boom times and using the cash for an economic stimulus package.

Others have made similar moves, and Peru, Colombia, Mexico and Brazil have won high marks for having sound economic policies.

"If the first challenge is recovering from the crisis, it's just as important to stick with our strategic bets on future development because the post-crisis world will be extremely competitive and we have to be prepared," Chilean President Michelle Bachelet said.  Continued...

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