Financial crises in Latin America are very elegant and seem very difficult and impossible to solve. Even if this is the case, here are some steps Latin America is taking to reduce its financial problems. First, according to Dr. Luisa Blanco in her book Latin America and the 2008 Financial Crisis: Lessons and Challenges: "Like the United States, many Latin American countries resorted to fiscal stimulus in increasing public spending to deal with the crisis. Thanks to the reforms they implemented in the 1990s, which required governments to be more fiscally responsible, many Latin American countries have had more room to maneuver and implement these policies budgetary. » (Blanco, 2010) By using taxation in its monetary system, Latin America can manage its source of money in the best possible way to reduce its national debt and at the same time improve its economic growth, although it will take a lot of time to resolve this crisis, but at least it will have a positive long-term effect for Latin American countries. In addition, Latin America is also using another strategy to reduce its debt. Indeed, paying the debt is the most important thing to resolve. If a country cannot find its way in debt resolution, the country cannot rise in the international system and also put it in a dilemma. This is why Latin America is taking a step which, according to Eduardo A. Cavallo and Eduardo Fernández-Arias, 2012: “After several years of crisis, a new multilateral strategy has finally emerged, motivated by the beginning of social upheaval. This new strategy, the Brady Plan, recognized that overindebtedness needed to be eliminated through deep debt reduction, in a manner similar to reorganization in bankruptcy. (Eduardo A. Cavallo and Eduardo Fernández-Arias, 2012)In...... middle of paper ......insured by the Latin American debt, they were often reluctant to participate in the debt reschedulings necessary to keep major banks from withdrawing in the event of sovereign loan default. (MILLER, 2002) these two methods applied by Latin America are used to reduce its financial debt. It can be said that the method used was a great success because now we can see Latin America developing its country and moving forward. This method was not successful, there is no way for Latin America to develop its country like today. They will not be able to manage their debt problem and at the same time develop their country. To conclude, Latin America manages its debt crisis using some method or plan as stated above and get help from another country like Japan where from time to time they manage to reduce their debt financial using the best means for their people and their country..