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Biennial report (2010-2011) of the economic commission for Latin America and the Caribbean

image of Biennial report (2010-2011) of the economic commission for Latin America and the Caribbean
Official Records of the Biennial Report of the Economic and Social Council 2012 Supplement No. 20

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Highlights of biennial results

During the 2010-2011 biennium, the economies of Latin America and the Caribbean continued to recover from the global financial and economic crisis whose fallout spread across the region in the second half of 2008 and in 2009. After contracting in 2009, economies expanded in Latin America and the Caribbean in 2010, but slower growth was projected for 2011, although with distinct differences from one country to another. The upturn that began late in 2009 and gained unexpected momentum in 2010 developed into a full-blown recovery that was without precedent in the world economy, sustained by the macroeconomic policies implemented by the countries in the region. The recovery carried over into 2011, although economic growth subsided in response to both external and domestic factors. The slowdown in regional growth steepened in the second half of the year, reflecting slackening export growth, falling prices for the region’s main export commodities —which nonetheless remained at historically high levels— and cooling domestic demand.

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