Tax reform seen as priority for Latin America

Tax reform seen as priority for Latin America

By Naomi Mapstone in Lima

Published: May 19 2008 23:55 | Last updated: May 19 2008 23:55

Latin America should be looking to European-style tax reform rather than subsidies or export bans to help manage the inflationary threat posed by the global food crisis, Pamela Cox, the World Bank's vice-president for Latin America and the Caribbean, has told the Financial Times.

”I imagine that for most countries in the world, coping with inflation is going to be the theme of 2008,” said Ms Cox, who was in Lima at the weekend for a summit of Latin American and European leaders and a meeting of the region’s finance ministers convened by Peru’s central bank to discuss inflationary pressures.