Caribbean

IMF Expects 6.2% Growth for Latin America & Caribbean

WASHINGTON, United States (CMC) – Latin America and the Caribbean (LAC) is expected to record economic growth of 6.3 per cent in 2021, according to the latest edition of the International Monetary Fund’s (IMF) World Economic Outlook released on Tuesday.

It said the LAC should record three per cent in 2022 and that Guyana is expected to register the highest level of economic growth among the 33 countries in the region.

According to the IMF,  Barbados is expected to record a 3.3 per cent growth, Jamaica, a 4.6 per cent and Trinidad and Tobago, a 0.1 per cent, Aruba a 12.8 per cent growth, Panama a 12 per cent, Chile a 11 per cent and Peru a 10 per cent growth.

The IMF increased its 2021 economic growth projections for Guyana despite the adverse implications of the nationwide flooding earlier this year.

According to the Washington-based financial institution, Guyana’s real gross Domestic Product (GDP) is now expected to increase by 20.4 per cent this year, higher than an earlier projection 16.4 per cent made in April.

Curaçao, St. Maarten and the BES islands have not been mentioned in the Release.

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