Overview

This paper examines the events that led the global economy to the current crisis. It starts by looking at the current debate about the causes of this crisis, listing the elements most explanations have focused so far. Then it looks back at the sequence of events that contributed to create havoc in financial markets, as well as the policy response to these events. Next it discusses the impact on Latin America financial market and how this crisis may bring the regions expansion of the past six years to a halt. In the last section, it discusses how the world leaders can move forward, focusing on the G20 Summit. And finally it offers final thoughts as well as suggestions on the initial lessons from this crisis.

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