Latest forecasts from the International Monetary Fund (IMF) predict Chile and Peru will lead Latin America’s growth in 2011 with an expansion of 6% each. The IMF released its World Economic Outlook Report on Wednesday, upping Chile’s projected growth from 4 to 4.7%.
Brazil, Latinamerica’s largest economy and leading Mercosur partner is poised to grow 5.5% this year, almost a whole percentage point more than the previous forecast in January, according to the International Monetary Fund “World Economic Outlook” released in anticipation of the IMF and World Bank annual assembly this weekend in Washington.
Latinamerican countries with a greater link to China such as Chile, Brazil and Peru are moving out of the crisis faster and stronger according to a World Bank report which underlines the increasing significance of the Asian giant for the region.
Latin America and the Caribbean have “weathered the global downturn comparatively well” and are now recovering at a “robust pace,” the International Monetary Fund (IMF) said Wednesday.