International Monetary Fund
Latin America, Caribbean Grapple With Global Crisis
Oct 27 -- The outlook for the Latin America and Caribbean (LAC) region is increasingly clouded by the global financial turmoil and policymakers face tough choices, the IMF says in its latest regional economic outlook for the Western Hemisphere.
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The report, entitled "Grappling with the Global Financial Crisis", says the LAC region is coming off a remarkable growth spell with relatively low inflation. This has supported important gains on poverty reduction. Real growth has averaged about 5 percent since 2003, compared with the region's long-run average of about 3½ percent, supported in many countries by the commodity boom. Meanwhile balance sheets have been strengthened and substantial buffers of reserves created, with important credibility gains.
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