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Davos leaders: Latin America can survive recession
Latin American leaders at Davos say region well placed to withstand a global recession
By The Associated Press

DAVOS, Switzerland (AP) ' Latin American leaders say their countries are well-positioned to withstand a global recession after decades of austerity and reform.

Latin American politicians and business leaders at an economic forum in Switzerland are speaking from a position of power, crowing about successes in places like Brazil, Mexico and Chile and even offering lessons to Europe about how to deal with debt crises.

Guillermo Ortiz, a former governor of the Bank of Mexico, said Wednesday that "Latin America has never been better equipped to move forward."

The rosy assessment constitutes a startling reversal of fortunes for Latin countries, which have had to seek international bailouts in the past but are now offering to help troubled European economies.

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