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LATIN AMERICA: AN END TO BOOM AND BUST?
Sustaining Latin America’s Transformation
Nicolás Eyzaguirre
Building on recent successes, Latin America now has a chance to raise its profile in the global marketplace
Ending Instability
Jorge Iván Canales-Kriljenko, Luis I. Jácome, Ali Alichi, and Ivan Luís de Oliveira Lima
How monetary policy reforms helped propel five major Latin American countries from recurrent crises to economic stability
Face-to-Face with Productivity
Eduardo Lora and Carmen Pagés
It is not lack of investment but inefficient production that holds back Latin American incomes
Spreading the Wealth
Alicia Bárcena
Poverty and inequality have declined in Latin America in recent years, but there is a lot more to do
Great Expectations
Mário Mesquita
Brazil’s economic success has raised the bar for that country, at home and abroad
Also in This Issue
Rising Prices on the Menu
Thomas Helbling and Shaun Roache
Higher food prices may be here to stay
Sneak preview: Book Review
Review by Diane Coyle of Tim Harford’s new book Adapt: Why Success Always Starts with Failure 
Gyrations in Financial Markets
Stijn Claessens, M. Ayhan Kose, and Marco E. Terrones
Financial cycles tend to be long and deep and often interact in ways that can cause booms or busts
Investing in Growth
Serkan Arslanalp, Fabian Bornhorst, and Sanjeev Gupta
Revisiting the debate over whether public investment in infrastructure is productive
Healing Health Care Finances
Benedict Clements, David Coady, Baoping Shang, and Justin Tyson
Health care presents a daunting fiscal challenge, but reforms can help manage the growth of spending fairly and efficiently
Free Governments, Good Policies
Paola Giuliano, Prachi Mishra, and Antonio Spilimbergo
Economic reforms may scare politicians, but democracy and economic liberalization generally go hand in hand
Veterans of the System
F&D interviews Michel Camdessus
Ideas for strengthening the international monetary system
Departments
People in Economics
Picture This
A History of World Debt
S. Ali Abbas, Nazim Belhocine, Asmaa El-Ganainy, and Mark Horton
How public debt has changed since 1880
Back to Basics
What Are Financial Services?
Irena Asmundson
How consumers and businesses acquire financial goods such as loans and insurance
Book Reviews
The Next Convergence: The Future of Economic Growth in a Multispeed World, Michael Spence
When Money Dies: The Nightmare of Deficit Spending, Devaluation, and Hyperinflation in Weimar Germany, Adam Fergusson
Moneymakers: The Wicked Lives and Surprising Adventures of Three Notorious Counterfeiters, Ben Tarnoff
Data Spotlight
Branching Out
Atsushi Oshima and James A. Chan
Access to basic financial services in low-income countries is growing
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Multimedia
Video: Nicolás Eyzaguirre on Latin America’s future
Podcast: Camdessus on the international monetary system
Podcast: Rising food prices’ impact on Africa
Slide show: History of global debt
Write to us
F&D welcomes comments and brief letters, a selection of which are posted under Letters to the Editor. Letters may be edited. Please send your letters to fanddletters@imf.org