The organism indicates that the expansion is “thanks to a more vigorous recovery in the main economies”.
The International Monetary Fund (IMF) published Tuesday its report called the World Economic Outlook Update, in which it lowered its global growth forecasts to 3.2% for 2022, from the 3.6 it had estimated last April.
“Several shocks have shaken a world economy already weakened by the pandemic: higher-than-expected inflation around the world—particularly in the US and major European economies—which has led to tightening financial conditions, a worse-than-expected slowdown in China due to COVID-19 outbreaks and lockdowns, and the further negative fallout from the war in Ukraine,” says the IMF.
However, despite this global outlook, the organization increased its forecast for Latin America and the Caribbean, noting that the region will grow 3 % its T e year; 0.5% more than it had forecasted in April.
In its report, the IMF indicates that this growth is “thanks to a more vigorous recovery in the main economies (Brazil, Mexico, Colombia, Chile).”
Brazil, according to the agency, will grow 1.7% this year, nine-tenths more than expected in April; while Mexico will register a growth of 2.4%, four-tenths more than forecast three months ago.
For next year, the IMF estimates that the world economy will grow much less, predicting just 2.9%.
Latin America and the Caribbean will also experience this decline, with only 2% growth in 2023; and, specifically, 1.1% for Brazil and 1.2% for Mexico.