January 27, 2021 |
New estimates for economic output in Latin America and the Caribbean (LAC) are better than in October, but the region faces many challenges and the speed of recovery continues to be very different among countries, the International Monetary Fund (IMF) said on Tuesday.
The fund expects the LAC region to grow 4.1% in 2021, up from the 3.6% forecast in October. It also estimated a less severe contraction for 2020, now set at -7.4% in contrast to the -8.1% October estimate.
"We saw a severe contract
Prospects for LAC region have improved but remain uncertain says IMF director of research