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Moody's expects steady debt metrics for Latin America
Moody's Investors Service expects Latin America to finish the global economic crisis with no major impact on its main debt metrics.
In a new report, the agency estimated that 2010 government financing needs at close to $350 billion for a regional cross-section of countries that represent over 90% of Latin America's GDP. Moody's said financing needs for these sovereigns - central government deficits plus amortizations - are expected to average 8% of GDP this year.
"Our most commonly used debt metrics support our view of improved government finances for most of the region," Moody's vice president and author Gabriel Torres said in the report. "We expect to expand and update these numbers as we go forward due to their importance."
Debt burdens in the region, which, on average, have been falling since 2002, saw a modest uptick due to the crisis, but not enough to reverse the positive trend, according to Moody's.
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