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LATIN AMERICA: "Guide: Investment in Argentina"

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back to index backLATINtalk January,  2017


IMF Cuts Economic Growth Forecast for Latin America in 2017

With its January economic outlook update, the International Monetary Fund (IMF) has become more pessimistic about Latin America. The Washington-based global economic authority is now forecasting regional GDP growth of just 1.2% in 2017, down from the 1.6% projection it made in October. It also lowered its 2018 prediction for Latin America by 0.1% to a revised projection of 2.1% expansion.

The major cause for the regional downgrade was a cut in the growth prospects for both Brazil (which it dropped by 0.3%) and Mexico (0.6%), the region’s two largest economies. While it still sees Brazil climbing out of recession in 2017, the new forecast of 0.2% economic expansion next year leaves much less room for error than the IMF’s earlier 0.5% projection.

Revised figures for Colombia have not yet been released publicly. In October, the IMF set the nation’s 2017 growth projection at 2.7% (which was down from 3.0% predicted in July).

In Latin America, the growth downgrade reflects to an important extent more muted expectations of short-term recovery in Argentina and Brazil following weaker-than-expected growth out-turns in the second half of 2016, tighter financial conditions, and increased headwinds from U.S.-related uncertainty in Mexico and continued deterioration in Venezuela,” said the IMF in a statement.

To read entire article, including viewing chart, please click here.

Source: Finance Colombia - GAI





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