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Details for Latin American Economic Outlook 2010

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Name:Latin American Economic Outlook 2010
Description:Latin America has not escaped the global economic crisis, but it has stood up to
it with a new resilience. Every country in the region has suffered the effects of
the downturn and overall gross domestic product is expected to shrink 3.6% in
2009. However, it is already apparent that Latin America is rebounding from the
shock more rapidly than the majority of developed economies. Most importantly,
it is doing so without compromising its significant progress towards its long-term
development goals. The rate of recovery is expected to be substantial in 2010, even
if short of the typical growth rates of over 5% that characterised the bonanza of
2004-08. The duration of the global recession will be only one factor in determining
future growth rates and at least as important for each country will be its capacity
to stimulate its economy through sustainable policy efforts. In many countries,
moreover, changing patterns of international migration and remittances will also
affect the depth of the crisis and the menu of available policy options.Latin America has not escaped the global economic crisis, but it has stood up to
it with a new resilience. Every country in the region has suffered the effects of
the downturn and overall gross domestic product is expected to shrink 3.6% in
2009. However, it is already apparent that Latin America is rebounding from the
shock more rapidly than the majority of developed economies. Most importantly,
it is doing so without compromising its significant progress towards its long-term
development goals. The rate of recovery is expected to be substantial in 2010, even
if short of the typical growth rates of over 5% that characterised the bonanza of
2004-08. The duration of the global recession will be only one factor in determining
future growth rates and at least as important for each country will be its capacity
to stimulate its economy through sustainable policy efforts. In many countries,
moreover, changing patterns of international migration and remittances will also
affect the depth of the crisis and the menu of available policy options.
Filename:44121339.pdf
Filesize: 3.65 MB
Filetype:pdf (Mime Type: application/pdf)
Creator:Rosanna
Created On: 12/01/2009 16:04
Hits:213 Hits
Last updated on: 02/15/2010 16:12
Homepage:www.oecd.org/dev/publications/leo