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LatinNews Daily - 17 July 2018

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In brief: Venezuela

Venezuela: The latest World Economic Outlook (WEO) update from the International Monetary Fund (IMF) warns that “the outlook for Venezuela, which is experiencing a dramatic collapse in [economic] activity and a humanitarian crisis, was revised down further, despite the pickup in oil prices, as oil production has declined sharply”. The IMF did not release new economic growth forecast for Venezuela in the quarterly update, however. The IMF’s April 2018 WEO estimates that Venezuela’s GDP growth was -14% in 2017 and forecasts -15% growth for 2018.