According to Caribbean 360, News Around The Caribbean, “The International Monetary Fund (IMF) is reporting a “surprising upside” coming out of its recently released The World Economic and Financial Survey 2012.
According to the Washington-based multilateral institution, growth prospects for Latin America and the Caribbean have moved up by quarter percentage point compared with the forecasts presented in the April 2012 World Economic Outlook.
The growth projections for Latin America and the Caribbean in April 2012 stood at 3.4% for 2012 and 4.2% for 2013; but now, the new projections from the IMF states that growth for the region stands at 3.5% for 2012 and 5.1% for 2013.
The IMF did acknowledge that the upward movement was partly due to temporary factors, among them easing financial conditions and recovering confidence in response to the European Central Bank’s (ECB’s) longer-term refinancing operations (LTROs). Continue reading “Growth Prospects For Latin America and The Caribbean Could Top 5%.”