After the G20 finance ministers and the World Bank/IMF annual meetings in Washington last weekend, most Latin American ministers of finance returned to their countries with a somber outlook. As the global financial crisis continues to unfold, it was clear that developing countries may have to replace some market financing with lending from the multilaterals, and prepare for the recession in the U.S., which will inevitably occur as a result of the credit squeeze of the past months, and its impact on global markets. More→