IMF Reduces Latin American Growth Forecast on Global Downturn

The International Monetary Fund cut its economic growth forecast for Latin America and the Caribbean for this year and next as the global environment deteriorates.

The region will expand 3.2 percent this year and 3.9 percent in 2013, compared with the previous estimates of 3.4 percent and 4.2 percent, the Washington-based lender said today in its World Economic Outlook. Brazil will expand 4 percent next year, compared with a 4.6 percent estimate in July, while Mexico’s forecast was lowered to 3.5 percent from 3.6 percent.