President of Inter-American Development Bank says “no region will benefit more from biofuels than Latin America”

Luis Alberto Moreno, the President of the Inter-American Development Bank, speaking at the Americas Conference in Miami, said “there is no region that can gain more from biofuels than Latin America and of climate change is a big risk. What we see happening between Brazil and the US on biofuels is very exciting.”

Moreno projected a 4.5% GDP growth for Latin America in 2007 and 2008, down from 5% in 2006, but he said that “The result of good macroeconomics is that many Latin Americans to the verge of joining the middle class.” He said that the pending trade deals with Colombia, Panama and Peru will have tremendous impact in Latin America.

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