IMF predicts gradual upturn in Latin America’s growth

IMF predicts gradual upturn in Latin America’s growth

The international monetary fund recently projected a gradual upturn for Latin America’s economy in 2017 and 2018 based largely on Brazil’s and Argentina’s recoveries from their recessions.

The IMF presented the update to the April edition of its World Economic Outlook in Kuala Lumpur (Malaysia).

The organization estimates that Latin America and the Caribbean will grow 1% in 2017 and 1.9% in 2018.

In Argentina, a GDP growth of de 2¼% is estimated for the current year, mostly due to a rebound in private consumption, stronger public capital expenditures, and a pickup in exports.

As for Mexico, the IMF has forecasted an increase of 1.7% to 1.9% for the current year, whereas the projection for next year remains unchanged at 2%.  Moreover, the purchasing power has witnessed a small increase largely due to “a tighter monetary policy and reduced concerns about US trade frictions”

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