The impact of the global financial crisis and recession on the Latin America and Caribbean region was substantial, but the worst is over for most countries. The region avoided falling into a crisis of its own, performing relatively well amid strong external shocks. Many countries have now...

The main focus of this report is the outlook for the region in the face of the downturn now projected for the U.S. economy and the continuing risks that affect the global outlook. Overall the region is better placed than in the past to navigate the current financial turbulence, given reduced...

In spite of a slower U.S. economy and recent market turbulence, growth in the Latin America and Caribbean region has continued at a robust pace. This reports explores the resilience of the LAC region to external shocks and the policy challenges involved in sustaining the region’s improved...

Despite the recent deterioration in the global economic environment, projections for the region involve only a modest worsening of the outlook. The October 2011 Regional Economic Outlook: Western Hemisphere cautions, however, that there are severe downside risks. A sharp slowdown in Asia, for...

KEY ISSUES Context. Since the mid-2000s, macroeconomic stability supported by high world commodity prices and active social policies have contributed to nearly tripling income per capita and reducing poverty in Bolivia. Prudent fiscal policies allowed saving a sizable portion of the hydrocarbon...

KEY ISSUES Context. Economic performance has been weak and public debt is high. Foreign reserves are under pressure as fiscal and external imbalances widened in 2012 and further in 2013. Recognizing the need for urgent action, the authorities announced ambitious budget consolidation proposals in...

KEY ISSUES Context. Macroeconomic stability has been maintained and policies are broadly in line with the recommendations of the 2012 Article IV consultation. Growth is expected to slow somewhat, reflecting in part lower coffee production and slowdown in construction. Inflation expectations are...

KEY ISSUES Context: Over the past year, Mexico has maintained macroeconomic stability and has made significant progress in advancing growth-oriented structural reforms. The country’s close ties with the global economy, while a source of strength, heighten the economy’s exposure to external...

KEY ISSUES Context. Brazil is recovering gradually from the growth slowdown that started in mid- 2011, but the recovery remains uneven and inflation elevated. Output is estimated at potential with supply-side constraints, linked to tight labor market conditions and protracted weak investment...

The economy is reviving. Output is poised for a modest recovery in 2013 after again registering disappointing growth in 2012. Maintenance-related outages will continue to hamper the energy sector, but the non-energy sector should grow around 21⁄2 percent. Core inflation remains moderate and...