Brazil & Southern Cone - October 2014 (ISSN 1741-4431)

In separate forecasts released on 7 October both the International Monetary Fund (IMF) and the World Bank (WB) reduced their 2014 growth forecasts for Latin America and the Caribbean. The message for Latin American politicians is worrying. At a global level, according to IMF chief economist Olivier Blanchard, “the recovery continues. But it’s weak. And it’s uneven”. While Blanchard has trimmed back the global growth outlook, his colleagues specialising in Latin America and the Caribbean have cut back the region’s outlook more sharply. They expect some of the larger economies to do particularly poorly. While things are due to get better in 2015 there is no boom around the corner. The message is that politicians must take difficult choices about productivity and structural reforms.

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