MercoPress. South Atlantic News Agency

Argentina and Uruguay lead LA recovery

Argentina and Uruguay's strong rebound will lead the recovery of Latin America's economy that is forecasted to grow between 3,8 and 4% in spite of the recent terrorist attacks according to World Bank economist Guillermo Perry.

"Countries that were deep in crisis such as Argentina and Uruguay are undergoing a sturdier recovery than expected and this thrust will help the whole region".

"Our original forecasts for the region were in the range of 3,7%, but a detailed assessment of the different countries clearly indicates the tendency will he higher, closer to 4,1% according to market expectations. We have to be more sober so we target between 3,8 and 4%", said Mr. Perry.

The World Bank official added that "we don't believe these last world (terrorist) events will have a significant impact in the Latinamerican economy".

Last week Interamerican Development Bank, IDB, announced that the region's economy could be expected to expand 4% given the boom of the world economy, low interest rates and record commodities prices.