Weekly Report - 11 October 2012 (WR-12-40)

REGION | Chile to lead economic growth. According to the latest forecasts in the International Monetary Fund (IMF)’s World Economic Outlook Report published on 8 October, Chile will lead the way in the Southern Cone this year with a projected growth rate of 5%. Indeed, Chile was the only country in the sub-region for which the IMF revised up its growth forecasts (from 4.3%) since its last forecast released in July. In contrast the IMF revised down its forecasts for the two larger economies in the Southern Cone: Brazil and Argentina. The Fund now believes that Brazil will close the year with 1.5% growth, down from 2.5%. Argentina is expected to post 2.6% growth, down from 4.2%. The forecasts for the remaining two economies in the region, Uruguay and Paraguay, remain unchanged with projections of 3.5% and -1.5% respectively.

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