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IMF report predicts modest growth, and urges the region’s economies to lay the groundwork for long-term, sustainable development.

Countries in Latin America and the Caribbean should see economic growth of 3.5 percent this year – up from 3 percent in 2012 – says the International Monetary Fund (IMF) in its “Regional Economic Outlook for the Western Hemisphere,” released this week in Montevideo, Uruguay. This growth will owe to stronger external demand in the global economy, favorable financing conditions, and the effects of policy easing in some countries, the report says.

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