Brazil, Chile, Peru and Colombia recovering from the global crisis

Thursday, August 20th 2009 - 05:21 UTC

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Good prospects for the next six months anticipates the Getulio Vargas Foundation

Brazil, Chile, Colombia and Peru are in the process of economic recovery, while Argentina, Bolivia, Ecuador, Paraguay, Uruguay and Venezuela are in a recessive phase according to a report released Wednesday and jointly drafted by Brazil’s Getulio Vargas Foundation and the University of Munich.

The report adds that overall Latinamerica is in the midst of economic recovery with good prospects for the coming six months. The Economic Climate Index, ICE, shows the region with a surging tendency in July, close to the four points after having plummeted to its lowest historic record last January with 2.9 points.

The Current Situation Index, ISA, also advanced but remains at an unfavourable level with 2.6 points. However even when “the current situation is bad, prospects for the comings six months can be considered good” adds the report.

The combination of a positive ICE and a poor ISA indicates “the region is abandoning the recessive process and is entering the recovery phase of the economic clock”.

Regarding economic climate ranking, Peru leads with 5.3 points followed by Brazil, 4.7; Uruguay, 4.6; Chile, 4.3 and Paraguay, 3.5. The list is based on the average ICE of the last four quarters. Brazil has moved to second place, while Uruguay, Paraguay and Bolivia have lost positions.

Categories: Economy, Latin America.

Top Comments

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John
By all accounts, Chile is not recovering, look at the right side of the page.
Chile in recession: economy sinks 4.5% in the second quarter.
Aug 20th, 2009 - 07:47 am 0
Marcos
It makes perfect sense that the four countries that have the most open markets are recovering the quickest. Brasil, Chile, Peru, and Colombia would do well to form a common market, and maybe even bring in Uruguay which has more solid open-market aspirations than many other countries in the continent.
Aug 24th, 2009 - 08:51 pm 0
hongosan
whats funny is that the countries that are allied with chavez are in recession, chavez is an idiot who believes hes simon bolivar
Aug 25th, 2009 - 12:49 am 0

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