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Chile: Pacific Alliance Bloc Face Challenge With Emerging Market Slowdown ...

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By Reuters

SANTIAGO, CHILE (AUGUST 23, 2013) (REUTERS) FINANCE MINISTERS ENTERING NEWS CONFERENCE VARIOUS OF PERU AND MEXICO FINANCE MINISTERS CHILEAN FINANCE MINISTER BEGINNING NEWS CONFERENCE COLOMBIAN MINISTER IN NEWS CONFERENCE COLOMBIAN, CHILEAN, PERU AND MEXICAN FINANCE MINISTER AT NEWS CONFERENCE MEXICAN MINISTER AT NEWS CONFERENCE (SOUNDBITE) (Spanish) FELIPE LARRAIN, CHILEAN FINANCE MINISTER, SAYING: "Our countries are all facing a volatile situation in the international markets, a situation in which there is a slowdown in the emerging world, in important countries like China and India, and we have to see how to respond to this situation and also when we finally see-- eventually, not in the short term-- the gradual quantitative easing in the United States." PERU ECONOMY MINISTER AT NEWS CONFERENCE (SOUNDBITE) (Spanish) MAURICIO CARDENAS, COLOMBIAN MINISTER OF FINANCE AND PUBLIC CREDIT, SAYING: "That (the U.S. economic recovery) is a topic about which we think that we should hold high level talks and our united position as members of the Pacific Alliance is to be able to express our points of view about the importance of that normalization (of the U.S. economy) occur gradually, not traumatically, because it has effects that go beyond the United States." CHILEAN FINANCE MINISTER LISTENING (SOUNDBITE) (Spanish) LUIS VIDEGARAY, MEXICAN FINANCE AND CREDIT MINISTER, SAYING: "We believe that it (the ups and downs of the U.S. economy) is, fortunately, a temporary phenomenon by virtue that signs of a U.S. economic recovery are beginning to be evident. This is so the case that the U.S. monetary authority is beginning to talk about withdrawing its monetary stimulus precisely because of economic growth and that it's beginning to recover. In other words, the prospects for Mexico's growth in the second semester and definitely next year are better than we've had this first semester." FINANCE MINISTERS STANDING AT PODIUM COLOMBIAN FINANCE MINISTER LISTENING (SOUNDBITE) (Spanish) FELIPE LARRAIN CHILEAN FINANCE MINISTER, SAYING: "These, the economies that you see here, are the economies that grow the most in our region; thus, this is a very attractive market. In other words, we have very important points of agreements but, at the same time, we have-- not the luck, but the characteristic of being the group that grows the most in Latin America and, because of that, it's a way to respond to this challenge from the world economy." FINANCE MINISTERS LEAVING
Dateline: 2013

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