May 10, 2009

Latin America will surpass crisis before large economies, according to the IMF


Taken from www.elfinancierocr.com

The impact of the current economic crisis on Latin America and the Caribbean will be notorious, but there exists a possibility that the region will be well off before advanced economies. Such informs the last edition of "Regional Economic Perspectives: The Americas", elaborated by the International Monetary Fund (IMF).

The report also foretells that the economic activity of the region will suffer less than in other parts of the world. It is possible that Latin America might reach rock bottom during the first part of 2009, but it will go up again once the second part of 2009 takes place. According to an estimate, growth in developed economies will be able to recommence in the middle of 2010.

Despite the forecast; that the economies of Latin America will contract 1.5% this year, it’s possible that they shall experience a positive rate growth of 1.6% in 2010. In the case of Costa Rica, according to the report, it would have a growth of the gross domestic product (GDP) of 0.5% this year and 1.5% the following year; while it would have an inflation of 8% and one of 7% for the 2010.

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