According to the International Monetary Fund (IMF), the Central America subregion will grow 3.9% in 2015 and 4.2% in 2016.

For Mexico, the IMF predicts growth of 2.3% this year and 2.8% in 2016. The expansion of the Colombian economy will be 2.5% in 2015 and 2.8% in 2016; Chile recorded growth of 2.3% in 2015 and 2.5% in 2016; Peru goes from 2.4% this year to 3.3% in 2016; For Paraguay, forecasts are for significant growth, jumping from 3.0% in 2015 to 3.8% in 2016.

For the global scenario of the Latin American and Caribbean economy, the IMF lowered its growth forecasts. The region’s economy is expected to end 2015 with a negative rate of 0.3%, contrasting with growth of 1.3% in 2014.

The contraction of the Latin American economy is motivated, according to the Fund, by the global slowdown – in 2015 global growth will be 3.1%, three tenths less than in 2014. However, for 2016, the organization predicts a recovery of 0.8%.

The less positive scenario in Latin America is explained, according to the IMF’s chief economist, Maurice Obstfeld, by the ”especially difficult circumstances in a couple of large countries (Brazil and Venezuela)” but also by the reduction in commodity prices and due to the fall in the international price of oil.