BIS central bankers’ speeches  3  Table 1 World growth (annual change, percent) Average 00-07  2010 (e)  2011 (f)  Dec.11 MP Report  2012 (f)  Jan.12 WEO  Dec.11 MP Report  2013 (f)  Jan.12 WEO  Dec.11 MP Report  Jan.12 WEO  World at PPP (1)  4.2  5.0  3.8  3.8  3.5  3.3  4.1  3.9  World at market exchange rate (2)  3.2  3.9  2.8  2.8  2.7  2.5  3.2  3.2  United States  2.6  3.0  1.7  1.8  1.8  1.8  2.2  2.2  Eurozone  2.2  1.9  1.6  1.6  -0.1  -0.5  1.0  0.8  Japan  1.7  4.4  -0.7  -0.9  2.0  1.7  1.6  1.6  China  10.5  10.4  9.1  9.2  8.2  8.2  8.5  8.8  Rest of Asia  5.1  7.8  4.5  4.9  4.4  5.0  4.8  5.0  Latin America (excl.
Rodrigo Vergara: The Central Bank of Chile and the external crisis Presentation by Mr Rodrigo Vergara, Governor of the Central Bank of Chile, at a special session held by the Honorable Senate to “analyze and evaluate the economic policy measures that have become indispensable to confront the severe symptoms of international recession and with the purpose of becoming familiar with the Contingency Plan announced by the Supreme Government”, Santiago de Chile, 31 January 2012. *  *  *  Mr. President of the Senate, Senator Guido Girardi, Honorable senators. Thank you for your invitation to discuss the international economic situation and the measures that can be adopted in our country to address an external crisis. These instances are important for communicating the vision of the Central Bank of Chile (CBC) on these issues. In the past several years, the advanced economies have gone through a severe crisis. The causes and consequences of the Great Recession of 2008–2009 have not yet been resolved and we are again enduring periods of external stress that put to the test the strength of our economy and its fundamentals. This forces us to carefully evaluate the current environment, its implications on the performance of our economy, and the measures we can implement if deemed necessary. During the past year, the biggest tensions have originated in the frail fiscal and financial conditions of some economies in the Eurozone. This situation has persisted for a long time and no definitive solution is foreseen in the near term.