according to Inter-American Development Bank (IDB)According to its 2023 Macroeconomic Report, presented by its chief economist, Eric Parrado, on the closing day of the organization’s annual meeting in Panama, «on the side of specific economic growth in Latin America and the Caribbean, what we estimate for 2023 is that growth is around 1% (…), which for the development challenges of our countries is very low«, said.
The IDB projection is less than the 1.8 percent growth forecast for the region this year by the International Monetary Fund (IMF) and to the 1.3 percent forecast by the UN Economic Commission for Latin America and the Caribbean (Cepal).
The IDB assembly, which ended last night, brings together the finance managers of the countries of the region and is held amid concerns after the bankruptcy of three banks in the United States; among them, the Silicon Valley Bank, as well as the difficulties in the American First Republic and the Swiss Credit Suisse.
The IDB even contemplates the possibility of 0 percent growth this year in the region if there is some «financial shock» added to other conditions in the region.
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