IMF in guarded optimism of economic recovery
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February 10, 2021
The International Monetary Fund (IMF) has warned that the resurgence of the coronavirus pandemic towards the end of last year in some Caribbean and Latin American economies could frustrate an already uneven recovery.
The advisory came as the Washington-based financial institution revised its hemispheric growth forecast for this year to 4.1 per cent, up from the 3.6 per cent it predicted in October last year, despite the recent spike in COVID-19 infections.
But growth for this year was downgraded for the Caribbean, from 4 per cent to 2.4 per cent, because the resumption of the vital travel and tourism activity has been much slower than anticipated, the IMF said. It revised growth upward for Brazil, Mexico, Chile, Colombia, and Peru.