LatinNews Daily - 26 January 2022

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In brief: IMF slashes Brazil GDP forecast

* The International Monetary Fund (IMF) has released the latest issue of its World Economic Outlook Update, in which it has slashed its 2022 GDP forecast for Brazil by 1.2 percentage points. The IMF now expects Brazil’s economy to grow just 0.3% this year, after seeing 4.7% growth in 2021. The IMF says that “the outlook has weakened in Brazil”, with the strong monetary policy response to inflation weighing on domestic demand. The revised forecast for Brazil weighs on projections for GDP growth in Latin America and the Caribbean as a whole, where the IMF now expects 2.4% growth this year, down from a projected 3% in October 2021. The IMF’s new forecast for Brazil is in line with projections from other institutions, such as the United Nations Economic Commission for Latin America and the Caribbean (Eclac), which expects 0.5% growth in the region’s largest economy.

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