Carolina Pimentel
Special Report

Belo Horizonte - The president of the Interamerican Development Bank, Luis Alberto Moreno, speaking at the opening of the annual meeting of the governors at the Palácio das Artes, in Belo Horizonte, Minas Gerais, declared that the institution would seek to assist Latin America and the Caribbean in its efforts to be more competitive on world markets.

He said that the bank would try to approve and release loans faster. "Unfortunately there is no silver bullet, no magic, no miracles. Development is a process of trial and error. Naturally there are some things that must be done. And, in general, we know what they are."

Moreno said the region was one of sharp contrasts. While exports had risen 59% in the last three years, there were still 68 million Latin Americans who did not have potable water.

Translation: Allen Bennett