2014 GDP growth projected to have lost steam

The International Monetary Fund’s (IMF) World Economic Outlook (WEO) projected that growth for Latin America and the Caribbean would plummet from 2.7 percent in 2013 to 1.3 percent in 2014, the lowest since 2009 (1.2 percent).
Projections reflect factors such as:
• Weak domestic demand in Chile and Perú
• Weak external demand in México
• Weak investment, slow credit growth and moderation in Brazil consumption
• High inflation, negative growth, and a rising differential between the parallel and official exchange rates in Argentina
• Widespread shortages, a collapse in growth, and inflation now 60 percent in Venezuela
• Long-standing competitiveness problems, high public debt, and financial fragilities in the Caribbean
• Bolivia, Colombia, Paraguay and Ecuador are expected to be the countries with the highest growth in 2014. In the case of Colombia, its stable growth rate is explained by a strong construction sector.

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