Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Online reactions to Kurdish referendum

Read more

THE DEBATE

Iraq's Kurds: Will referendum really lead to independence?

Read more

TALKING EUROPE

Catalonia independence vote: Tensions rise between Barcelona and Madrid

Read more

TALKING EUROPE

Catalonia’s regional foreign affairs chief: ‘This referendum is not illegal’

Read more

ENCORE!

Music show: Lucy Rose live, Ibeyi and Miley Cyrus

Read more

FOCUS

Judicial reforms: Polish government on collision course with EU

Read more

BUSINESS DAILY

Euro, stocks slide on Merkel's lacklustre election win

Read more

#THE 51%

Hola 'Ellas Hoy' - The 51 Percent welcomes its sister show on FRANCE 24 Spanish

Read more

IN THE PAPERS

Donald Trump Vs NFL: America's divider in chief or America's saviour?

Read more

Americas

Latin America will enter recession in 2009, predicts IMF

Latest update : 2009-03-26

The International Monetary Fund's director for the Western Hemisphere, Nicolas Eyzaguirre, predicted that average economic growth in Latin America will be in slightly negative territory in 2009, dampening earlier forecasts.

AFP - Latin America's economy will suffer negative growth this year as the region is buffeted by the global economic downturn, a top International Monetary Fund official said Wednesday.
   
The IMF's director for the Western Hemisphere Nicolas Eyzaguirre said he expects the average country in Latin America to be "in negative territory" in 2009, "but not that much."
   
In January the IMF projected that the region's economies would expand 1.1 percent this year, followed by three percent growth in 2010.
   
Eyzaguirre said today's more negative outlook would still pale compared to losses projected in the big three economic regions: the United States, Europe and Japan.
   
The IMF has predicted that the global economy will slow this year, having projected a 0.5 percent rise in global gross domestic product, the lowest level since World War II.
   
Eyzaguirre warned Latin American financial institutions could suffer continued capital losses, describing the situation as "delicate."
 

Date created : 2009-03-26

COMMENT(S)