Latin America - The Caribbean. The World Bank forecasts that the region will grow by 4.5% in 2010, with Brazil and Peru leading the expansion with rates above 6%. Venezuela and Haiti will be the only countries that will contract.According to the agency's data, the estimate for Latin America and the Caribbean will be above this year's global growth, which will be 3.3%.
For 2011 the World Bank presumes that the region's economy will expand by 4.1% and 4.2% in 2012. This year the financial situation in Latin America has been favored by the rebound in the price of commodities, the demand for exports and the reactivation of the stock cycle, but the agency also indicated that there is a risk of overheating of Latin economies.
The countries that will be above the regional growth cap will be Brazil with 6.4%, Peru, 6.1% and Paraguay with 5.1%. Six countries will be in the middle, such as Argentina, 4.8%; Uruguay (4.6%), Panama with 4.5%; Mexico 4.3%; Chile 4.2%; and the Dominican Republic, 4%.
The nations that will grow between 2 and 3% are: Costa Rica with 3.8%; Guyana 3.5%; Colombia 3.5%; Ecuador 2.2%, Honduras (2.1%), Saint Vincent and the Grenadines with 2.1% and Guatemala (2.0%).
Dominica with 1.9%; Belize (1.7%); Nicaragua 1.7%; El Salvador (1.2%); Saint Lucia (1.1%) and Jamaica (0.3%) exceed or are close to 1%, while negative rates are recorded by Haiti with -8.5% and Venezuela with -2.9%.
