IMF Slashes GDP Forecasts For Several Latin American Countries - Report

The International Monetary Fund (IMF) worsened its outlook for a number of Latin American countries in its October report, as compared with its July expectations

BUENOS AIRES (UrduPoint News / Sputnik - 15th October, 2019) The International Monetary Fund (IMF) worsened its outlook for a number of Latin American countries in its October report, as compared with its July expectations.

Thus, IMF experts expect the Mexican economy to grow by 0.4 percent in 2019 and by 1.3 percent in 2020. Back in July, the fund had forecast Mexican GDP growth of 0.9 percent this year and 1.9 percent next year.

Peru's economic growth is now projected at 2.6 percent in 2019 and 3.6 percent in 2020, down from 3.7 percent and 4.1 percent in July, respectively. Chilean economic growth forecasts were downgraded to 2.5 percent from 3.2 percent for 2019, and to 3 percent from 3.

4 percent for 2020.

The largest Latin American economy Brazil is expected to grow by 0.9 percent this year and by 2 percent next year, compared to 0.9 percent and 2.4 percent, respectively, in the previous forecast.

Colombian GDP is expected to grow by 3.4 percent this year and by 3.6 percent in 2020. The economy of Ecuador is expected to fall by 0.5 percent in 2019, but will grow by 0.5 percent next year.

In general, the growth of the economies of Latin America and the Caribbean in 2019 will be 0.2 percent against 0.6 percent in the July report. The forecast for 2020 is also lowered to 1.8 percent from 2.3 percent.