On Tuesday, the International Monetary Fund (IMF) has lowered the growth forecast of Panama and stood at 5.2%, after in April the company expected that the country would grow by 6.1% this year, according to its report ‘Global Economic Prospects’ , published yesterday in Washington, United States.

For 2017, the IMF assigned to Panama grew 5.8% last April when it stood at 6.4%. However, Panama will remain one of the fastest growing economies in Latin America, despite the adjustments revealed yesterday.

THE GENERAL REDUCTION

The situation in Panama is no stranger to the region. According to the agency, the Central American economies, low-income, will grow 3.9% in 2016, slightly below the 2015 data, while keeping in 2017 the share growth of 4%, with inflation contained and improvements deficit.

While the level of Latin America, the IMF extended two tenths to 0.6% economic contraction for the region, according to published news agency EFE.

The IMF expects the South American giant Brazil closed the year down 3.3% of GDP, the same percentage advance in July, but lowers the expected growth of other economies of the subcontinent, including Mexico.

Mexico, the second Latin American economy, reduce slightly its growth at the end of this year, with an increase of 2.1% of its Gross Domestic Product (GDP), 2.5% below 2015.

Most Latin American economies that base their activity on the export of raw materials suffer in their balance sheets by low prices of natural resources, resulting in slowdown.

Falling commodity prices also plunged into negative data to Argentina and Ecuador, while in Venezuela the deep economic crisis will worsen.

After experiencing a decline of 6.2% in GDP, Venezuela, immersed in a serious economic and political crisis, will close 2016 with a fall of its economy 10%, an inflation rate of almost 500% and unemployment close to 20%, predicts the IMF.

Source: http://laestrella.com.pa/