Commodity exporting nations in Latin America and the Caribbean have experienced a decade of fast-rising economic growth. But that may change soon, according to the World Bank.
The international lending institution’s report “Latin America and the Caribbean as Tailwinds Recede: In Search of Higher Growth” describes a regional economy that is starting to slow down.
Recent growth in the region was fueled largely by Chinese demand for the commodities produced by exporting nations such as Bolivia, Mexico, Colombia, and Trinidad and Tobago. While central banks around the world have kept interest rates low to spur growth and avoid a repeat of the 2008 financial crisis thus far, the region will have to focus on getting its internal consumers to spend more rather than relying on foreign buyers for its products, according to the report.
See the April 25, 2013 edition for full coverage.
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