Regional Economic Outlook Update: Western Hemisphere Hemisphere Department

Western Hemisphere, October 12, 2012

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Growth in the Latin America and Caribbean (LAC) region has softened since our April report.
The softening reflects the larger-than-anticipated impact of earlier policy tightening and the somewhat less favorable external environment.
Challenges are more pressing in some countries, particularly those in the Caribbean, where the recovery has been held back by weak balance sheets and external demand.
Date of report: October 2012.

Global downside risks have increased, as the crisis in Europe continues to simmer, and the U.S. fiscal cliff looms.
External finance and commodity prices remain stimulative, providing twin tailwinds to the region.

With slack in many countries limited, and external conditions still stimulative, policies need to be carefully calibrated to keep domestic demand and credit growth in check.
The key task for many countries remains to strengthen the resilience of their economies by rebuilding fiscal buffers and safeguarding financial stability.

Press Conference: Western Hemisphere Regional Economic Outlook Update, October 2012

Regional Economic Outlook Update: Western Hemisphere Department (October 2012)

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