IDB publishes macroeconomic report for Latin America and the Caribbean 2022
Lower growth rates in the euro area and the United States and a tighter-than-expected US monetary policy would reduce average GDP growth by 1.5%
The IDB Latin America and the Caribbean Macroeconomic Report 2022 concludes that the combined effect of rising commodity prices, lower growth rates in the euro area and the United States, and a more restrictive US monetary policy than expected, they would reduce the average GDP growth of Latin America and the Caribbean by 1.5% per year between 2022 and 2024.
However, many exporting countries will experience a windfall from the impacts of Russia's war in Ukraine that should not be wasted, says the report, which also provides a policy framework to improve the region's labor and tax architecture. Latin America and the Caribbean is also well placed to limit the volatility of major commodities and help the world contain global inflationary pressures.
The report can be accessed at this link.