Weekly Report - 2 November 2004

LATIN AMERICA | Growth outlook. Latin America as a whole will grow by about 5% this year, according to Guillermo Perry, the World Bank's chief economist for the region. Growth will be slower in Brazil (4.0% to 4.5%) and Mexico (about 4.5%); most of the impetus will come from Argentina, Uruguay and Venezuela, as they bounce back from long and deep recessions. Regional growth should slow in 2005, to about 4.0% percent, he said: the pace of the recoveries in Argentina, Uruguay and Venezuela will moderate, interest rates in the US and elsewhere will rise and global growth 'won't be as high' as it is this year.

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