Global Financial Regulatory Reform: Implications for Latin America and the Caribbean (LAC)

The Latin America and Caribbean (LAC) region has weathered the global financial crisisreasonably well so far, although tighter global financial conditions began to take their tollon trade, capital flows and economic growth in late 2008. This resilience reflects the reformsput in place by many countries over the past decade to strengthen financial supervision andadopt sound macroeconomic policies. Building on this progress, the region's financial sectorreform agenda now aims at further improvements, including steps aiming to improvecompliance with the Basel Core Principles of Banking Supervision and to broaden anddeepen domestic financial markets.