Global Crisis: estimates for Latin America worsen

A report published by the World Bank estimates that Latin America will suffer in 2009 a strong impact on its economy with an estimated contraction of 2 to 2.5 percent, these numbers mean that the World Bank made pessimistic prognosis than it did in April in which the estimation fall between 0.5 and 1 per cent. The organism estimated that by 2010 there will be an expansion of 2 percent, but that the recovery will be slow and uneven. According to the report, the global crisis will impact in different areas (see figure below).

The good news is that the World Bank sees the crisis as an opportunity for Latin America, because this crisis could cause the region to develop much faster.