World Bank forecasts growth of 1.4 % in Latin America

The growth figure for this year, in Latin America and the Caribbean, is one tenth higher than the previous World Bank report

The World Bank’s chief economist for Latin America and the Caribbean, William Maloney, reported that the institution slightly increased its growth prospects for the region and will grow by 1.4 %, due to the effects of increases in bank interest rates. centers to fight inflation.

In Maloney’s opinion, growth in the coming years will be too low to bring about a significant reduction in poverty. However, he added that Latin America has so far been able to withstand the current economic uncertainty, aggravated by the Russian invasion of Ukraine.

«Latin America, in general, trades less than it should, taking into account the proximity to its partners and their free trade agreements. We should be exporting a lot more,” Maloney said.

Added to this is a progressive reduction in foreign investment in the region, especially Spanish ones, the expert pointed out.

With information from DOBLELLAVE

(Reference image source: Towfiqu Barbhuiya, Unsplash)

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