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IMF cuts economic growth in Latin America and the Caribbean

The International Monetary Fund (IMF) slightly lowered the growth forecast for Latin America and the Caribbean for 2017 and 2018 and linked the recovery of economic activity to Out of Argentina and Brazil from the recession.

Bangkok, July 24 (EFE) .- The International Monetary Fund (IMF) slightly downgraded growth forecast for Latin America and the Caribbean for 2017 and 2018 and linked the recovery of Economic activity following the recession in Argentina and Brazil.

This is indicated in the update that the IMF today presented in Kuala Lumpur of the Perspectives of the World economy published last April.

"Latin America continues to struggle with lower growth compared to the rest and we have reduced the outlook for the region during the The next two years, "IMF Research Director Maurice Obstfeld said during the live Malaysia webcast.

The financial institution Estimates that Latin America and the Caribbean will together grow 1% in 2017 and 1.9% in 2018, a figure that is 0.1% lower in both cases than was forecast three months ago.

Contracting in 2016, economic activity in Latin America will recover gradually in 2017-18, according to forecasts, as countries like Argentina and Brazil recover Of the recession, "the report said.

The IMF raises Brazil's economic growth to 0.3% this year and cuts it to 1.3% in 2018, in both cases compared to Forecasts.

The upward adjustment is attributed to the fact that "the growth levels reached in the first quarter of 2017 exceeded the forecasts for the April edition", and highlights The strong fall in core inflation.

IMF experts warn that "the persistent weakness of domestic demand and the worsening uncertainty surrounding The political situation and the economic policy will be reflected in a more moderate recovery and, consequently, a smaller growth in 2018 "in Brazil.

" The forecast of Mexico's growth in 2017 increased from 1.7% to 1.9%, driven by the strength of activity in the first quarter of the year, while there has been no change in the forecast for 2018, " Of the 2%, according to the review.

The update points out that "the Mexican peso advanced slightly thanks to tightening monetary policy and the alleviation of concerns about Trade frictions with the United States. "

" The revisions for the rest of the region are mainly downward, including a further deterioration of conditions in Venezuela, "adds the The IMF only offers data from Brazil and Mexico in this update, but in April it calculated that Argentina, after contracting 2.3% in 2016, will grow 2.2% in 2017 and one % In 2018. The April table for the rest of the region is as follows: Bolivia (4% and 3.7%), Chile (1.7% and 2.3%), Colombia %), Peru (3.5% and 3.7%), Uruguay (1.6% and 2.6%) and Venezuela (-7.4% and -4.1%). Is strengthening, "but warns that while" the risks are balanced in the short term, "in the medium term" continue to decline. "

The dangers come from the "Continuing uncertainty" generated by situations such as brexit or the fiscal and fiscal policy of the United States, financial tensions, isolationist policies and non- Economic, such as geopolitical tensions.

The IMF recipe to overcome medium-term risks promote global cooperation and a free and fair international trade, and in the plane national the "growth momentum by fiscal, monetary and structural policies" will strut and that bet by growth "resilient and balanced".

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