Brasília – The International Monetary Fund (IMF) estimates Latin America and the Caribbean will grow by 0.9%, but Brazil’s economy will shrink by 1% in 2015. For 2016, projections for the country are more optimistic. The Brazilian economy is expected to grow by 1%, half the 2% rate expected in other countries in the region.
The global growth forecast remained unchanged, at 3.5% in 2015 and 3.8% in 2016. The prospective figures for the global economy have been issued this Tuesday (14th) in Washington, DC, set to host the Spring Meetings of the IMF and World Bank.
As per the new report, the global growth outlook is uneven when it comes to major economies. More advanced countries should see stronger growth in 2015 than they did in 2014, whereas the emerging and developing markets are expected to show weaker performance.
In Latin America’s case, low raw material prices remain the problem. According to the IMF’s report, “drought and more restrictive macroeconomic policies,” among other issues, have weighed down on the perspectives for Brazil.
*Translated by Gabriel Pomerancblum
