Identifier
Created
Classification
Origin
09SAOPAULO50
2009-01-26 12:27:00
UNCLASSIFIED
Consulate Sao Paulo
Cable title:
MEDIA REACTION: GLOBAL ECONOMY
how-toVZCZCXYZ0008 OO RUEHWEB DE RUEHSO #0050 0261227 ZNR UUUUU ZZH O 261227Z JAN 09 ZDK FM AMCONSUL SAO PAULO TO RUEHC/SECSTATE WASHDC IMMEDIATE 8894 INFO RHEHNSC/NATIONAL SECURITY COUNCIL WASHDC IMMEDIATE RUEHBR/AMEMBASSY BRASILIA PRIORITY 0041 RUEHRI/AMCONSUL RIO DE JANEIRO PRIORITY 8995
UNCLAS SAO PAULO 000050
SIPDIS
STATE INR/R/MR; IIP/R/MR; WHA/PD
E.O. 12958: N/A
TAGS: KMDR OPRC OIIP XM XR XF BR
SUBJECT: MEDIA REACTION: GLOBAL ECONOMY
Latin America and the Crisis: an anti-cyclical and progressive
answer
Op-Ed in business-oriented Valor Econtmico (1-26) by Marcelo M.
Giugale, World Bank Director of Economic Policy and Poverty
Reduction for Latin America and the Caribbean: "Latin American
governments need to amortize the impact of the global financial
crisis. They do not have many tools to do this. But they do have one
that is particularly powerful, as it encourages both economic growth
and social fairness: the transformation of subsidies for all into
subsidies for all the poor....Latin America spends annually between
5% and 10% of its GDP on subsidies....This crisis is an opportunity
[to direct the subsidies to the homes that need it most]."
White
SIPDIS
STATE INR/R/MR; IIP/R/MR; WHA/PD
E.O. 12958: N/A
TAGS: KMDR OPRC OIIP XM XR XF BR
SUBJECT: MEDIA REACTION: GLOBAL ECONOMY
Latin America and the Crisis: an anti-cyclical and progressive
answer
Op-Ed in business-oriented Valor Econtmico (1-26) by Marcelo M.
Giugale, World Bank Director of Economic Policy and Poverty
Reduction for Latin America and the Caribbean: "Latin American
governments need to amortize the impact of the global financial
crisis. They do not have many tools to do this. But they do have one
that is particularly powerful, as it encourages both economic growth
and social fairness: the transformation of subsidies for all into
subsidies for all the poor....Latin America spends annually between
5% and 10% of its GDP on subsidies....This crisis is an opportunity
[to direct the subsidies to the homes that need it most]."
White