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...

Growth in much of Latin America remains solid, although it slowed during the second half of 2011 as result of the combined effects of policy tightening and global uncertainties. Under our baseline, we expect growth in Latin America and the Caribbean to moderate to about 33⁄4 percent in 2012,...

The past year has been one of strong economic performance for the Western Hemisphere, notwithstanding somewhat slower growth in the United States in recent quarters. Can this performance be sustained, and what challenges does the region face? Reviewing macroeconomic prospects and risks, this...

This paper presents Argentina's Fifth and Sixth Reviews under the Extended Arrangement under the Extended Fund Facility, Request for Rephasing of Access, Waiver of Nonobservance of Performance Criteria, Modification of Performance Criteria, and Financing Assurances Review. Since completion of...

This paper presents Argentina's Fourth Review under the Extended Arrangement under the Extended Fund Facility (EFF), Requests for Modification of Performance Criteria, Waiver for Nonobservance of Performance Criteria, and Financing Assurances Review. Achieving the 2023 primary fiscal deficit...

Despite a difficult economic context, President Macri's administration, over the past two and a half years, has taken bold steps to eliminate a wide range of distortions in the economy. Efforts were also made to strengthen institutions (including the complete reconstruction of the statistics...

Early decisive policy implementation by the new economic team was critical to stabilizing markets and begin rebuilding confidence in the run-up to the second review. Domestic demand has since slowed in response to tighter macroeconomic policies, with high frequency indicators pointing to a...

Episodes of domestic policy uncertainty and acute market pressures in mid- 2022, coupled with a more challenging global environment, necessitated firmer program implementation and stronger policy reaction to ensure macroeconomic stability, rebuild policy credibility, and safeguard program...

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...