{ "title": "Regional Economic Outlook Update: Western Hemisphere Hemisphere Department", "publication": "Western Hemisphere, October 12, 2012", "sourceUrl": "https://www.imf.org/en/publications/reo/wh/issues/2017/01/07/latin-america-and-the-caribbean2", "canonical": "https://www.imf.org/en/publications/reo/wh/issues/2017/01/07/latin-america-and-the-caribbean2", "overlayPath": "/en/publications/reo/wh/issues/2017/01/07/latin-america-and-the-caribbean2/index.md", "summary": "IMF Regional Economic Outlook Update: Western Hemisphere Department", "sections": [ { "heading": "Overview and recent growth dynamics", "content": "- Growth in the Latin America and Caribbean (LAC) region has softened since our April report.\n- The softening reflects the larger-than-anticipated impact of earlier policy tightening and the somewhat less favorable external environment.\n- 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.\n- Date of report: October 2012." }, { "heading": "External environment and risks", "content": "- Global downside risks have increased, as the crisis in Europe continues to simmer, and the U.S. fiscal cliff looms.\n- External finance and commodity prices remain stimulative, providing twin tailwinds to the region." }, { "heading": "Policy implications and recommendations", "content": "- 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.\n- The key task for many countries remains to strengthen the resilience of their economies by rebuilding fiscal buffers and safeguarding financial stability." }, { "heading": "Communication", "content": "- Press Conference: Western Hemisphere Regional Economic Outlook Update, October 2012\n\nRegional Economic Outlook Update: Western Hemisphere Department (October 2012)\n\n---\n\n Content in this bundle\n\n- wreo1012\n - wreo1012 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n - wreo1012 (PDF){rel=\"external\" type=\"application/pdf\"}\n- Spillovers from Large Neighbors in Latin America\n - Spillovers from Large Neighbors in Latin America (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n - Spillovers from Large Neighbors in Latin America (PDF){rel=\"external\" type=\"application/pdf\"}\n- The Effects of Global Financial Shocks on Output in Latin America — Section 1\n - The Effects of Global Financial Shocks on Output in Latin America — Section 1 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n - The Effects of Global Financial Shocks on Output in Latin America — Section 1 (PDF){rel=\"external\" type=\"application/pdf\"}\n- Keeping an Eye on Housing Markets in Latin America\n - Keeping an Eye on Housing Markets in Latin America (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n - Keeping an Eye on Housing Markets in Latin America (PDF){rel=\"external\" type=\"application/pdf\"}\n- Regional Economic Update—Latin America and the Caribbean, October 2012\n - Regional Economic Update—Latin America and the Caribbean, October 2012 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n - Regional Economic Update—Latin America and the Caribbean, October 2012 (PDF){rel=\"external\" type=\"application/pdf\"}\n- On Neutral Interest Rates in Latin America\n - On Neutral Interest Rates in Latin America (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n - On Neutral Interest Rates in Latin America (PDF){rel=\"external\" type=\"application/pdf\"}\n- Nonfinancial Firms in Latin America: A Source of Vulnerability?\n - Nonfinancial Firms in Latin America: A Source of Vulnerability? (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n - Nonfinancial Firms in Latin America: A Source of Vulnerability? (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- Growth in Latin America Moderating but Resilient\n- Western Hemisphere: Regional Economic Outlooks Archive\n- Regional Economic Outlooks\n- IMF Regional Reports\n- World Economic Outlook Archives\n- Subscribe\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-caribbean2" } ], "bullets": [ "[Markdown version](/en/publications/reo/wh/issues/2017/01/07/latin-america-and-the-caribbean2/index.md)", "[Structured JSON version](/en/publications/reo/wh/issues/2017/01/07/latin-america-and-the-caribbean2/index.json)", "[Bundle manifest](/en/publications/reo/wh/issues/2017/01/07/latin-america-and-the-caribbean2/bundle-manifest.json)", "Published: October 12, 2012", "Series: Western Hemisphere", "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", "**wreo1012**", "**Spillovers from Large Neighbors in Latin America**", "**The Effects of Global Financial Shocks on Output in Latin America — Section 1**", "**Keeping an Eye on Housing Markets in Latin America**", "**Regional Economic Update—Latin America and the Caribbean, October 2012**", "**On Neutral Interest Rates in Latin America**", "**Nonfinancial Firms in Latin America: A Source of Vulnerability?**", "[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)", "[Growth in Latin America Moderating but Resilient](https://www.imf.org/external/pubs/ft/survey/so/2012/CAR101212C.htm)", "[Western Hemisphere: Regional Economic Outlooks Archive](https://www.imf.org/external/pubs/ft/reo/reorepts.aspx?ddlRegions=12&ddlYear=-1)", "[Regional Economic Outlooks](https://www.imf.org/external/pubs/ft/reo/reorepts.aspx)", "[IMF Regional Reports](https://www.imf.org/external/pubs/cat/region.asp)", "[World Economic Outlook Archives](https://www.imf.org/external/ns/cs.aspx?id=29)", "[Subscribe](https://www.imf.org/external/RSS/feeds.aspx?Category=PUBS_GF)" ], "related": [ { "title": "wreo1012", "role": "document", "sourceUrl": "http://www.imf.org/external/pubs/ft/reo/2012/whd/eng/pdf/wreo1012.pdf", "summary": { "path": "/external/pubs/ft/reo/2012/whd/eng/pdf/wreo1012.pdf.md", "mime": "text/markdown" }, "binary": { "path": "/external/pubs/ft/reo/2012/whd/eng/pdf/wreo1012.pdf", "mime": "application/pdf" } }, { "title": "Spillovers from Large Neighbors in Latin America", "role": "document", "sourceUrl": "https://www.imf.org/-/media/websites/imf/imported-flagship-issues/external/pubs/ft/reo/2012/whd/eng/pdf/_wreo013013apdf.pdf", "summary": { "path": "/-/media/websites/imf/imported-flagship-issues/external/pubs/ft/reo/2012/whd/eng/pdf/_wreo013013apdf.pdf.md", "mime": "text/markdown" }, "binary": { "path": "/-/media/websites/imf/imported-flagship-issues/external/pubs/ft/reo/2012/whd/eng/pdf/_wreo013013apdf.pdf", "mime": "application/pdf" } }, { "title": "The Effects of Global Financial Shocks on Output in Latin America — Section 1", "role": "document", "sourceUrl": "https://www.imf.org/-/media/websites/imf/imported-flagship-issues/external/pubs/ft/reo/2012/whd/eng/pdf/_wreo013013bpdf.pdf", "summary": { "path": "/-/media/websites/imf/imported-flagship-issues/external/pubs/ft/reo/2012/whd/eng/pdf/_wreo013013bpdf.pdf.md", "mime": "text/markdown" }, "binary": { "path": "/-/media/websites/imf/imported-flagship-issues/external/pubs/ft/reo/2012/whd/eng/pdf/_wreo013013bpdf.pdf", "mime": "application/pdf" } }, { "title": "Keeping an Eye on Housing Markets in Latin America", "role": "document", "sourceUrl": "https://www.imf.org/-/media/websites/imf/imported-flagship-issues/external/pubs/ft/reo/2012/whd/eng/pdf/_wreo013013pdf.pdf", "summary": { "path": "/-/media/websites/imf/imported-flagship-issues/external/pubs/ft/reo/2012/whd/eng/pdf/_wreo013013pdf.pdf.md", "mime": "text/markdown" }, "binary": { "path": "/-/media/websites/imf/imported-flagship-issues/external/pubs/ft/reo/2012/whd/eng/pdf/_wreo013013pdf.pdf", "mime": "application/pdf" } }, { "title": "Regional Economic Update—Latin America and the Caribbean, October 2012", "role": "document", "sourceUrl": "https://www.imf.org/-/media/websites/imf/imported-flagship-issues/external/pubs/ft/reo/2012/whd/eng/pdf/_wreo1012pdf.pdf", "summary": { "path": "/-/media/websites/imf/imported-flagship-issues/external/pubs/ft/reo/2012/whd/eng/pdf/_wreo1012pdf.pdf.md", "mime": "text/markdown" }, "binary": { "path": "/-/media/websites/imf/imported-flagship-issues/external/pubs/ft/reo/2012/whd/eng/pdf/_wreo1012pdf.pdf", "mime": "application/pdf" } }, { "title": "On Neutral Interest Rates in Latin America", "role": "document", "sourceUrl": "https://www.imf.org/-/media/websites/imf/imported-flagship-issues/external/pubs/ft/reo/2012/whd/eng/pdf/_wreo111912pdf.pdf", "summary": { "path": "/-/media/websites/imf/imported-flagship-issues/external/pubs/ft/reo/2012/whd/eng/pdf/_wreo111912pdf.pdf.md", "mime": "text/markdown" }, "binary": { "path": "/-/media/websites/imf/imported-flagship-issues/external/pubs/ft/reo/2012/whd/eng/pdf/_wreo111912pdf.pdf", "mime": "application/pdf" } }, { "title": "Nonfinancial Firms in Latin America: A Source of Vulnerability?", "role": "document", "sourceUrl": "https://www.imf.org/-/media/websites/imf/imported-flagship-issues/external/pubs/ft/reo/2012/whd/eng/pdf/_wreo112912pdf.pdf", "summary": { "path": "/-/media/websites/imf/imported-flagship-issues/external/pubs/ft/reo/2012/whd/eng/pdf/_wreo112912pdf.pdf.md", "mime": "text/markdown" }, "binary": { "path": 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