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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Box-By-The-Riviera™ who wrote (55681)	10/1/2009 3:12:54 PM
From: elmatador	Respond to of 217918

Latin America Recovery Set to Gather Speed, IMF Says By Joshua Goodman Oct. 1 (Bloomberg) -- Latin America and the Caribbean’s recovery from the region’s first recession since 1983 should “gather moderate speed” in the coming months, led by Brazil, the International Monetary Fund said in a report. Aided by a return of capital and rebounding commodity prices, the region may expand 2.9 percent next year, faster than the 2.3 percent estimated in July, the IMF said in its World Economic Outlook report today. Gross domestic product will probably shrink 2.5 percent this year, the IMF said. The region “is showing signs of stabilization and recovery,” according to the report, distributed at the IMF’s annual meeting in Istanbul. “These economies are helped by improving conditions in global financial and commodity markets and stronger policy frameworks that promoted resilience and allowed timely policy responses to support economic activity.” Brazil, with the region’s largest domestic market and a diversified export base, will lead the recovery with growth of 3.5 percent in 2010 after shrinking an estimated 0.7 percent this year. Peru, whose economy came to a standstill during the global recession, will resume “strong growth” in the coming months, pushing gross domestic product up 1.5 percent this year before jumping 5.8 percent in 2010. Mexican Growth Mexico, the regional economy hardest hit by the financial crisis, “will recover more slowly,” the IMF said, as it awaits a stronger pick-up in demand for its exports to the U.S., its largest trading partner. Growth next year should reach 3.3 percent after an expected 7.3 percent decline this year exacerbated by the outbreak of swine flu. Venezuela is the only major regional economy expected to contract next year, by 0.4 percent, the IMF said. Consumer price increases should slow for a second straight year across the region to 5.2 percent in 2010 from an estimated 6.1 percent this year and 8 percent in 2008. Prices in Venezuela may jump 30 percent next year because of looser lending and high public spending, the IMF said. Inflation in Argentina, where authorities have named a board of academics to review their methodology for calculating the data, should slow to 5 percent in 2010, from an estimated 5.6 percent this year. In a footnote to the report, the IMF cautioned that private analysts estimate the consumer price index to “be considerably higher” and growth lower than official reports since the final quarter of 2008. Given the benign inflation outlook, central banks “should keep interest rates low until a recovery is solidly under way and upward inflation pressures become relevant,” the report said. If the recovery is weaker than expected, central bank policy makers in some economies may still have room to reduce interest rates further, the IMF added. To contact the reporter on this story: Joshua Goodman in Istanbul jgoodman19@bloomberg.net