| Latin America's economy is likely to go into recession this year for the first time since the end of the global financial crisis as China's slowdown lessens demand for the region's commodities, threatening to undo recent progress in reducing poverty, the International Monetary Fund said Wednesday.
The Washington-based lender, in a report released at its annual meeting in Peru, said the rate of economic growth in Latin America and the Caribbean is set to decline for the fifth consecutive year before rebounding in 2016. Pulled down by a deep recession in Brazil and Venezuela, two of South America's largest economies, and by a smaller contraction in oil-dependent Ecuador, the economies of Latin America and the Caribbean are expected to shrink 0.3 percent this year...............................................Full Article: Source |