MercoPress. South Atlantic News Agency

Optimistic forecast for Latinamerica.

Latinamerica is forecasted to expand 4% in 2004 according to Enrique Iglesias president of the Inter-American Development Bank, IDB.

Speaking in Santiago, Mr Iglesias said "we expect a good year for the region, and we'll manage 4% growth; low interest rates strong demand for commodities will help us achieve that number".

Mr. Iglesias also pointed out "the good internal management in the region's countries plus the common sense with which fiscal and economic reforms have been addressed has been another vital factor".

However the IDB president also cautioned that "economic booms" are not for life. "On the contrary they are usually short-lived, but give us an opportunity to make reforms, reduce or reschedule debts and even advance in social affairs".