By Alonso Soto COSTA DO SAUIPE, Brazil (Reuters) – The volatility in global markets buffeting emerging economies could push Latin American nations to move ahead with deep reforms needed to restore their dynamism, the head of Inter-American Development Bank, Luis Alberto Moreno, said on Friday. Moreno said most countries understand that reforms to improve productivity are crucial for the region to return to the annual growth rates of 5 percent over the last decade. “Historically Latin America has been better at dealing with crises than managing the good times,” Moreno told Reuters on the sidelines of the IADB’s annual meeting in Costa do Saiupe. Precisely because of the volatility, which will likely drag on for the next 18 months, reforms become even more important.” Latin America’s economy is expected to grow only 3 percent this year after expanding a staggering 6 percent four years ago, according to data from the International Monetary Fund.
