Remarks by Treasury Under Secretary Nathan Sheets

With the annual IMF and World Bank meetings set to take place in Lima, Peru, from October 9 to 11, Under Secretary Nathan Sheets of the U.S. Treasury Department gave an overview of Latin America's economic feats and remaining challenges. "The Lima meetings will bring to the world’s attention the major accomplishments that many countries in the region have made toward shared prosperity," said Sheets. But despite having achieved low and stable inflation, the under secretary said countries need to diversify their economies to mitigate slowing demand for commodities and strengthen their structural financial policies.

• Read the under secretary's remarks.