ECLAC Forecasts Quicker Recovery in Latin America
Americas Quarterly - Latin America will recover more quickly from the global economic downturn than predicted a few months ago, according to a report published last week by the UN Economic Commission for Latin America and the Caribbean (ECLAC). The report forecasts that Brazil will lead the region in growth next year at 5.5 percent, followed by Peru and Uruguay (5 percent); Bolivia, Chile and Panama (4.5 percent); and Argentina and Surinam (4 percent). However, ECLAC warns that this growth may not be sustainable due to uncertain economic prospects of developed countries. “The worst of the crisis is behind us. The motors of growth have been turned on again, but we don't know how long the fuel will last,” said ECLAC Executive Secretary Alicia Bárcena.
