Linkages between the United States and Latin America To better assess the prospects and lessons for Latin America from the recent financial strains, it may be useful to review the various linkages between the two regions. These linkages include trade flows, capital flows of various types, and shared global shocks such as the recent run-ups in commodity prices.
In the same spirit, G-SAP operations were discontinued in October 2021 given “the existing liquidity overhang, the absence of a need for additional borrowing for GST compensation and the expected expansion of liquidity in the system …”. 23. As I proceed to conclude, let me briefly summarise how we have  been different from other central banks in our pandemic response.