Latam needs monetary policy, floating FX to battle turbulence-IMF
BRASILIA Jan 30 (Reuters) - Latin American and the Caribbean should rebuild fiscal buffers and use monetary policy and flexible exchange rates to absorb any shocks generated by major shifts in the global economy, the International Monetary Fund warned on Thursday.
Alejandro Werner, the IMF's director for the Western Hemisphere Department, said in an official blog that although the region is expected to pick up this year a resurgence of market turbulence poses a challenge.
Fears about the health of many major emerging economies recenly have set off an exodus of investors from those markets, prompting many central banks to raise rates to contain the effects of the selloff.
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