{
  "title": "Regional Economic Outlook Update: Western Hemisphere Hemisphere Department",
  "publication": "Western Hemisphere, October 11, 2013",
  "sourceUrl": "https://www.imf.org/en/publications/reo/wh/issues/2017/01/07/latin-america-and-the-caribbean1",
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  "summary": "IMF Regional Economic Outlook Update: Western Hemisphere Department",
  "sections": [
    {
      "heading": "Growth outlook for Latin America and the Caribbean",
      "content": "- Growth in Latin America and the Caribbean (LAC) remains in low gear, reflecting a less supportive external environment and, in some cases, domestic supply-side constraints.\n- The region’s output is projected to expand by 2¾ percent in 2013, with domestic demand remaining the main driver.\n- The growth rate is expected to edge up to 3 percent in 2014 as external demand strengthens gradually, but will remain below the average growth rate of the last decade."
    },
    {
      "heading": "Policy recommendations",
      "content": "- Monetary policy:\n  - In countries with low inflation and anchored inflation expectations, monetary policy should be the first line of defense if downside risks to the baseline materialize.\n- Fiscal policy:\n  - Fiscal consolidation remains appropriate for countries with tight capacity constraints or limited fiscal space.\n  - Fiscal consolidation will also help constrain the continued widening of current account deficits.\n- Financial stability:\n  - Safeguarding financial stability is a key priority in an environment of tighter global financial conditions and increased asset price volatility."
    },
    {
      "heading": "Key contextual details",
      "content": "- Publication date: October 2013\n- Regional focus: Western Hemisphere — Latin America and the Caribbean\n\nSource: Regional Economic Outlook Update: Western Hemisphere Department (October 2013).\n\n---\n\n Content in this bundle\n\n- Regional Economic Update—Latin America and the Caribbean, October 2013 (wreo1013)\n  - Regional Economic Update—Latin America and the Caribbean, October 2013 (wreo1013) (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Regional Economic Update—Latin America and the Caribbean, October 2013 (wreo1013) (PDF){rel=\"external\" type=\"application/pdf\"}\n- Regional Economic Update--Latin America and the Caribbean, October 2013\n  - Regional Economic Update--Latin America and the Caribbean, October 2013 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Regional Economic Update--Latin America and the Caribbean, October 2013 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\n References\n\n- Sign up to receive free e-mail notices when new series and/or country items are posted on the IMF website.\n- Modify your profile\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/publications/reo/wh/issues/2017/01/07/latin-america-and-the-caribbean1"
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    "Published: October 11, 2013",
    "Series: Western Hemisphere",
    "Growth in Latin America and the Caribbean (LAC) remains in low gear, reflecting a less supportive external environment and, in some cases, domestic supply-side constraints.",
    "The region’s output is projected to expand by 2¾ percent in 2013, with domestic demand remaining the main driver.",
    "The growth rate is expected to edge up to 3 percent in 2014 as external demand strengthens gradually, but will remain below the average growth rate of the last decade.",
    "Monetary policy:",
    "Fiscal policy:",
    "Financial stability:",
    "Publication date: October 2013",
    "Regional focus: Western Hemisphere — Latin America and the Caribbean",
    "**Regional Economic Update—Latin America and the Caribbean, October 2013 (wreo1013)**",
    "**Regional Economic Update--Latin America and the Caribbean, October 2013**",
    "[Sign up to receive free e-mail notices when new series and/or country items are posted on the IMF website.](https://www.imf.org/en/email-subscription/index)",
    "[Modify your profile](https://www.imf.org/en/email-subscription/login)"
  ],
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