Americas: Economic overview
Latin America’s economy is expected to remain fragile in 2017, putting pressure on the region’s demand for gas and LNG.
The International Monetary Fund (IMF) expects the economy of Latin America and the Caribbean region to have contracted by 0.6% on an annual basis in 2016. The IMF forecasts the region’s economy will expand by 1.6% year on year in 2017, but this would still be much lower than its long-term GDP growth of 2.8%. Some countries in the region – including Brazil, Argentina and Trinidad & Tobago – are already in recession and remain vulnerable to currency and oil price shocks in the coming months, which can deter investment in their oil and gas sectors.