From issue: Memos to the President Elect (Fall 2008)
End the Credit Squeeze on Latin America’s Poor
"The U.S. can smooth the way to broader financial access by easing its enforcement of stringent 'know-your-customer' rules."
Over the past two decades, democracy has taken hold in the vast majority of Latin American countries. Notwithstanding an anti-market backlash led by Venezuela, the region as a whole has benefited from stable economic policies and improved growth rates. Yet these gains remain imperiled by persistent poverty and income inequality.
According to a May 2008 report from the Council on Foreign Relations (CFR) Task Force on U.S.-Latin American relations, to which I contributed as the president and CEO of ACCION International, economic growth in