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An update to these projections was published on March 31, 2009.
News release | Update (PDF)

Latin America and the Caribbean

Growth for the Latin America and the Caribbean region is projected to slow to 3.5 percent in 2012, from 4.3 percent in 2011, due to a weaker global external environment, high oil prices, capacity constraints in selected economies and weak carry-over effects following the slowdown in the second half of 2011 in some of the largest economies in the region. Renewed tensions in the global financial markets and risk aversion since May 2012 and marked declines in commodity prices and weaker capital flows means the region is facing renewed headwinds. Better financial conditions and firming growth outside the region should contribute to a modest acceleration of growth to 4.1 percent in 2013 before easing modestly in 2014.  The recent volatility of international confidence and capital flows has complicated macroeconomic policy in the region, perhaps prompting policy makers to switch course more often than domestic conditions warrant as activity reacts to large swings in external conditions.






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