IMF: Argentina And Venezuela Lead Region’s Growth

The International Monetary Fund (IMF) has forecast that Argentina and Venezuela will lead growth in Latin America and the Caribbean this year of 4.8%, higher than the regional growth of 4.3% forecast by the Fund earlier this year. Argentina will post economic expansion of 8%, Venezuela of 7.5%, Mexico 4% and Brazil 3.6%. Nevertheless, the region’s growth will still lag behind overall global growth of 5.1% this year. The IMF also repeated last year’s warning that Latin America is vulnerable to a fall in world commodity prices. It has urged countries in the region to use windfall revenues to cut debt levels ahead of a downturn in these prices.