Uruguay asked not to fall into the “complacency” at the opening of the Assembly of the IDB

Uruguayan Minister of Economy, Fernando Lorenzo, has urged Latin American countries not to fall into the “complacency”, despite the resistance shown against the international crisis, while inaugurating the 53 Annual Meeting of Governors of the Inter-American Development Bank (IDB).

“The worst thing you could think” is that the capacity of the region to combat the crisis, “make us safe from any storm or makes us any kind of complacency,” said the Uruguayan minister.

At the opening session of the Assembly in Montevideo IDB, whose activities began last Thursday and that on Monday held its sittings, Lorenzo was elected Chairman of the Board of Governors in replacement of the Canadian Minister of State for the Americas, Diane Ablonczy.

Lorenzo stressed that Latin America “has faced in recent years, major challenges and difficulties,” as the international crisis of 2008, which brought “to light that the region was able to confront and mitigate these problems differently than in past him” .

It has also shown his “satisfaction with institutional improvements result of the capitalization process” IDB finalized in 2010 for a total of 70,000 million dollars.

“The bank now has a better organizational structure, governed by rules much clearer and more transparent”, allowing you, in your opinion, “continued assistance, continue to help support the growth and development of our countries.”

In this scenario has called for consolidation in the future a BID “to collect and reflect the diversity of the region” and ready to face the new regional challenges in the coming years, in what some analysts and policymakers, have ventured to defined as “the decade of Latin America.”

“Inequality is a vulnerability for development, for the advancement of democracy” and the bank has to provide credit and technical assistance to remove it, highlighted the Uruguayan minister.

Trade relations with Asia, fears about a slowdown in China’s economy, the debt crisis in Europe, the importance of public safety and protectionism in some economies that are falling, some of them in Latin America, are the issues central IDB meeting.

It is expected that during the day the IDB President Luis Alberto Moreno, the governors announce the creation of a regional contingency fund against crisis and natural disasters will have multilateral agency resources flexibly and quickly.