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Over the last five years, most Latin American governments have made considerable strides in managing the composition of their public debt, while reducing their foreign-currency exposure. Issuing public debt in local currency is not new for Latin America; what is new, however, is the widespread...
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The idea of local “ownership” of development policies is now popular among the donor community, but without a reduction of conditionality on aid disbursements, enhanced ownership will be difficult to achieve. While there are still strong reasons for attaching certain kinds of conditionality...
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Political and social troubles worsened in 2007, but the long term trend is positive. Progress towards democracy continues, despite some severe setbacks. Democratic institutions need to foster dialogue and social cohesion.
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