Economics
Bank Sees Low Growth for Latin America as Commodity Boom Fades
- Inter-American Development Bank sees negative growth this year
- Brazil contraction of 3.8 percent could drag down neighbors
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Latin American economies will contract this year and face low growth in years to come as nations adjust to the end of a commodity price boom, the Inter-American Development Bank said in its annual outlook.
Dragged down by recessions in two of its largest countries, Brazil and Argentina, the region will post a 0.3 percent contraction in 2016 before bouncing back to annual growth of 1.5 percent through 2018, the bank said in a statement released during its annual meeting in Nassau, Bahamas, on Sunday.