Video: Conversation with IMF Western Hemisphere Department Director Alejandro Werner

Speakers:

• Alejandro Werner, Director, Western Hemisphere Department, International Monetary Fund
• Lisa Schineller, Managing Director, Sovereign Ratings, Standard & Poor's (Moderator)

Alejandro Werner, director of the Western Hemisphere Department at the International Monetary Fund (IMF), spoke about Latin America's economic outlook for 2015 at AS/COA in New York on January 22. The former Mexican undersecretary of finance talked about IMF projections for countries such as Venezuela, Mexico, and Brazil, highlighting the end of a decade in which countries in Latin America enjoyed "exceptional circumstances" when it comes to commodities at high prices. 

Even though the IMF has downgraded its projections for Mexico's economic growth in 2015, Werner said that uncertaintity associated with last year's fiscal reforms have now passed and potential in the energy sector is huge for many industries in the next years. In Brazil's case—one country in the region for which the IMF forecasts limited growth in 2015—Werner demonstrated more optimism about recent macroeconomic policies, which may generate businesses confidence in the short term. 

He answered questions from the audience about bonds, expected growth in certain industries in the region, and what Latin American governments can do to boost their projections. When talking about social inclusion in the region, Werner explained that the main question from now on is whether countries in Latin America can sustain an inclusive growth model with a much tighter government budget.