It is important to listen to wise men, particularly when things are going well, to ensure that euphoria does not carry us away and disable our ability to think rationally.
William Rhodes is one of the most knowledgeable players on these issues and, if he believes that we need to focus on something, we need to focus on something.
Onésimo Alvarez-Moro
See article:
Investors and lenders in emerging markets may be under-estimating their risks, Bill Rhodes, the vice-chairman ofthe Institute of International Finance, said yesterday.
Mr Rhodes - a senior Citigroup banker who was involved closely with Latin America's external debt restructurings of the 1980s and 1990s - said Latin American economies had since become much sounder but recent steep rises in local financial markets owed much to capital inflows.
"Governments need to remain vigilant in pursuit of policies that reinforce investor confidence. The days of easy money are over," Mr Rhodes told reporters during the annual meeting of the Inter-American Development Bank in Belo Horizonte, Brazil.
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