Thanks, mainly, to the good development of the raw materials export sector, this Tuesday the International Monetary Fund (IMF) raised the forecasts for economic growth in Latin America in 2021 to 6.3%, half a point above its past forecast in July.
Despite the general improvement in that region, its two main economies, Brazil and Mexico, both saw their forecast lowered by one tenth compared to three months ago, to 5.2 and 6.2%, respectively, according to the new report. Global Economic Outlook (WEO), released Tuesday.
In 2020, the Latin American regional economy sank 7%, according to the latest data from the Fund.
The country that does see a significant increase in its forecasts was Argentina, which will grow 7.5% in 2021, compared to 6.4% reflected in the IMF's July document.
Indeed, Argentina is currently negotiating with the IMF a debt refinancing agreement for about 45,000 million dollars, in a plan subject to policies that improve the economic activity and fiscal health of the country.
On the other hand, Chile will be the Latin American country that will grow at the fastest rate, 11% forecast for 2021, compared to 6.2% projected by the Fund in April.
In its report, the IMF highlighted Chile as one of the countries in the world with the best production levels and reserves of copper and lithium, a characteristic that within the current context has triggered projections for this South American nation.
"The economic benefits of higher prices could be substantial for metal-exporting countries," stressed the Washington-based body.
Other countries in the region, such as Colombia and Peru will also advance in 2021 by 7.6% and 10%, respectively, while Central America as a whole will grow by 7.7%.
The Caribbean economies, highly dependent on tourism, will register 3.6% development this year, above the 2.4% calculated in the previous update.
For its part, Venezuela will suffer a contraction of 5%, a figure far from the 10% reduction in economic activity that the IMF anticipated in its last report.
All in all, Latin America will grow 6.3% in 2021, a figure higher than the global economic development, placed by the Fund at 5.9% for this year.
For 2022, the experts of this body expect Latin America to advance a modest 3%, two tenths less than their previous forecast.
The publication of this report is part of the assembly of the IMF and the World Bank (WB), which is being held this week in Washington again virtually due to the COVID-19 pandemic. (I)
Link: https://www.eluniverso.com/noticias/internacional/fmi-indica-que-latinoamerica-crecera-63-hasta-fines-de-2021-nota/