(Version in Español)
Here in Washington D.C., Spring is showing its early signs, so we naturally feel a bit more upbeat. But spring comes in fits and starts—a day of sunshine, followed by cold rain, followed by sunshine again. So, we carry an umbrella on sunny days—but also have sunscreen ready. It’s much the same for most of Latin America and the Caribbean, as we discuss in our Regional Economic Outlook for the Western Hemisphere. So, on a spring day, how do we see things?
Well, before explaining what I mean, let me start with a broad overview.
Most of Latin America stands out from much of the rest of the world—not for great economic performance, but for good performance in a subpar environment. Growth is generally solid, despite a slowdown late last year owing to policy tightening and global volatility. Under our baseline scenario, we expect regional growth to moderate to near 3¾ percent in 2012, down from 4½ percent last year (but modestly up from our January projections).
Filed under: Advanced Economies, Economic Crisis, Economic outlook, Emerging Markets, Employment, G-20, growth, IMF, International Monetary Fund, Latin America, LICs, Multilateral Cooperation | Tagged: Brazil, Caribbean, Chile, Colombia, iMFdirect blog, Nicolás Eyzaguirre, Peru, spillovers, Uruguay | 3 Comments »