Growth in Latin America shrinks for fifth consecutive year

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Growth in Latin America and the Caribbean is expected to decline for a fifth consecutive year—dipping below 1 percent in 2015—although there are clear differences along North-South lines, the IMF said in its latest regional forecast. The IMF’s Regional Economic Outlook for the Western Hemisphere released on the 29th of April in Santiago Chile. The predictions show a growth in Latin America and the Caribbean at 0.9 percent in 2015, down from 1.3 percent in 2014.
Short-term prospects remain low for South America, with output contractions projected in three of the largest economies for 2015—Argentina, Brazil, and Venezuela—while only Chile and Peru would see a pick-up in growth.
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