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Latin America grows 2.8%

According to the most recent IMF forecast, the economy of Latin America and the Caribbean is expected to grow by 1.6% in 2018 and 2.8% in 2019. These numbers confirm the recovery in the pace of regional development, whose Gross Domestic Product increased by 1.3 % in 2017.

According to the World Economic Outlook, published in July 2018, the countries whose wealth will grow the most this year are Bolivia and Paraguay, at a rate of 4%.

The document highlights the importance of the benefits brought by commodity prices to exporters, but warns of the existence of challenges for the largest Latin American economies, due to stricter financial conditions and the need to adjust policies. The report also points to the unpredictability caused by electoral calendars and certain political agendas, as well as trade tensions and prolonged uncertainty surrounding the renegotiation of NAFTA as the main obstacles to greater growth.

Table source: Focus Economics, Economic Snapshot for Latin America (July 11, 2018) https://www.focus-economics.com/regions/latin-america

You can consult the IMF report by clicking here or following the link: http://www.imf.org/en/Publications/WEO/Issues/2018/07/02/world-economic-outlook-update-july-2018