Latin American economies are expected to remain weak in 2016, partly as a result of problems in key countries such as Brazil.
The International Monetary Fund (IMF) expects Latin America’s GDP will contract by 0.3% in 2016, worse than its previous forecast of a growth of 0.8%. The agency’s latest forecast also predicts the region’s GDP will grow by only 1.6% in 2017, less than its previous forecast of 2.3%. Weak commodity prices are cited as one of the reasons for the downgrade.
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