Global crisis: Latin America will recover first from the crisis.

According to a report from the International Monetary Fund (IMF), Latin America is better prepared to overcome the slowdown and leave the financial crisis before advanced economies. These nations have stronger public finances and also a stronger financial sector. The IMF estimates that the region will be at the bottom during the first part of 2009 and resume growth in the second half of the year, while the growth in advanced economies could start in mid 2010. The study projected that Latin America will contract 1.5% this year and grow 1.6% in 2010, while advanced economies will drop 3.8% this year and will register zero growth in 2010.