World bankers to discuss crisis in Panama

November 13, 2008 12:32:29 PM

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More than one thousand bank executives from 44 countries will discuss the international financial crisis at a meeting in Panama next week, banking officials said here Wednesday.

"It's an important meeting at a crucial moment for the world," said Fernando Pozo, president of FELABAN, an organization grouping more than 500 banks and institutions from 19 Latin American countries, at a news conference here.

Some 1,200 executives from 44 countries in America, Europe, Asia and Australia are due to take part in the meeting "to discuss what we need to learn from this crisis and what type of regulation we want for Latin America," Pozo said.

Latin America is better prepared than in the past to deal with the crisis, he added.

"There are significant levels of reserves, the debts are manageable, it's very different from in the past."

The meeting, part of the 42nd Annual Assembly of the Federation of Latin American banks, will take place from November 16 to 18 in Panama City.