Regional Economic Outlook: Western Hemisphere, October 2014 -- Table of Contents

Western Hemisphere, October 10, 2014

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Regional Economic Outlook: Western Hemisphere, October 2014 -- Table of Contents

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Bibliographic details

• Published: October 10, 2014
• Series: Western Hemisphere

Report scope and theme

• Regional focus: Western Hemisphere; chapter title: "Latin America and the Caribbean: Coping with Challenging Times"
• Publication date: October 2014
• Purpose: Discuss recent economic developments and prospects for countries in various regions; address economic policy developments that have affected economic performance; discuss key challenges faced by policymakers; provide country-specific data and analysis, including analytical pieces on issues of interest to the region.

Recent developments and growth prospects

• Growth in Latin America and the Caribbean (LAC) has slowed down more than anticipated.
• Weak dynamics in South America have outweighed an incipient recovery in Mexico.
• Projected growth: "as low as 1.3 percent in 2014 and 2.2 percent in 2015."
• Drivers of weakness identified:
  • Lower-than-expected external demand.
  • Softer terms of trade.
  • Domestic supply-side bottlenecks.
  • Policy uncertainties weighing on confidence and private demand in several economies.
• Spare capacity remains limited, underscoring urgency of supply-side reforms to boost productivity and potential growth.

Policy analysis and recommendations

• First line of defense against adverse shocks: monetary policy and exchange rate flexibility should continue to serve as the first line of defense.
• Fiscal stance: a looser fiscal stance is unwarranted in most countries, especially those with weak public finances.
• Supply-side reforms: urgent to boost productivity and potential growth.

Risks and monitoring

• Financial sector risks warrant close monitoring.
• Confluence of risks highlighted: lower growth, rising U.S. interest rates, and geopolitical tensions could pose a considerable challenge.

International Monetary Fund — Regional Economic Outlook: Western Hemisphere, October 2014

Content in this bundle

• Coping with Challenging Times—Outlook for Latin America and the Caribbean
  • Coping with Challenging Times—Outlook for Latin America and the Caribbean (Markdown version)
  • Coping with Challenging Times—Outlook for Latin America and the Caribbean (PDF)
• _wreo1014pdf
  • _wreo1014pdf (Markdown version)
  • _wreo1014pdf (PDF)

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