{
  "title": "Regional Economic Outlook: Western Hemisphere, October 2014 -- Table of Contents",
  "publication": "Western Hemisphere, October 10, 2014",
  "sourceUrl": "https://www.imf.org/en/publications/reo/wh/issues/2017/01/07/regional-economic-outlook-update-western-hemisphere",
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  "summary": "These reports discuss recent economic developments and prospects for countries in various regions. They also address economic policy developments that have affected economic performance in the regions, and discuss key challenges faced by policymakers.",
  "sections": [
    {
      "heading": "Report scope and theme",
      "content": "- Regional focus: Western Hemisphere; chapter title: \"Latin America and the Caribbean: Coping with Challenging Times\"\n- Publication date: October 2014\n- 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."
    },
    {
      "heading": "Recent developments and growth prospects",
      "content": "- Growth in Latin America and the Caribbean (LAC) has slowed down more than anticipated.\n- Weak dynamics in South America have outweighed an incipient recovery in Mexico.\n- Projected growth: \"as low as 1.3 percent in 2014 and 2.2 percent in 2015.\"\n- Drivers of weakness identified:\n  - Lower-than-expected external demand.\n  - Softer terms of trade.\n  - Domestic supply-side bottlenecks.\n  - Policy uncertainties weighing on confidence and private demand in several economies.\n- Spare capacity remains limited, underscoring urgency of supply-side reforms to boost productivity and potential growth."
    },
    {
      "heading": "Policy analysis and recommendations",
      "content": "- First line of defense against adverse shocks: monetary policy and exchange rate flexibility should continue to serve as the first line of defense.\n- Fiscal stance: a looser fiscal stance is unwarranted in most countries, especially those with weak public finances.\n- Supply-side reforms: urgent to boost productivity and potential growth."
    },
    {
      "heading": "Risks and monitoring",
      "content": "- Financial sector risks warrant close monitoring.\n- Confluence of risks highlighted: lower growth, rising U.S. interest rates, and geopolitical tensions could pose a considerable challenge.\n\nInternational Monetary Fund — Regional Economic Outlook: Western Hemisphere, October 2014\n\n---\n\n Content in this bundle\n\n- Coping with Challenging Times—Outlook for Latin America and the Caribbean\n  - Coping with Challenging Times—Outlook for Latin America and the Caribbean (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Coping with Challenging Times—Outlook for Latin America and the Caribbean (PDF){rel=\"external\" type=\"application/pdf\"}\n- wreo1014pdf\n  - wreo1014pdf (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wreo1014pdf (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/regional-economic-outlook-update-western-hemisphere"
    }
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    "Published: October 10, 2014",
    "Series: Western Hemisphere",
    "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.",
    "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:",
    "Spare capacity remains limited, underscoring urgency of supply-side reforms to boost productivity and potential growth.",
    "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.",
    "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.",
    "**Coping with Challenging Times—Outlook for Latin America and the Caribbean**",
    "**_wreo1014pdf**",
    "[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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