Former CB head predicts emerging economies will recuperate by 2014

The former president of the Central Bank (BCRA) Mario Blejer assured today that the international crisis was “not over” and that the recuperation of emerging economies would settle itself by mid-2014.

“The global economic crisis is far from over, but right now it’s like a continuation of the crisis but has particular characteristics,” the economist sustained in a radio interview this morning.

According to the former Central Bank president, there are three main indicators that reflect the current world economic stance.

Firstly, he highlighted that the US economy had started a slow recuperation, but underlined that it was a “stable” recovery.

Secondly, Blejer pointed out that the crisis was “more concentrated in Europe” where “a recession has been in place for some years and that continues to spread to adjacent countries.”

Finally, the economist spoke of emerging economies and stated:

“What can be highlighted in the case of emerging countries is that they have saved their situation by carrying along with them the rest of the system, growing much faster than more advanced countries.”

“Stemming from this, what we’ll be able to see by in a year and a half’s time is a recuperation of the emerging economies,” Blejer concluded.