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Economic Survey of Latin America and the Caribbean 2010-2011

International Integration and Macroeconomic Policy Challenges Amid Global Economic Turmoil

image of Economic Survey of Latin America and the Caribbean 2010-2011

This publication is issued annually by the Economic Development Division of the Economic Commission for Latin America and the Caribbean (ECLAC). This sixty-third edition of the Economic Survey looks at the nature of the recovery from the financial global and economic crisis whose fallout spread across the region in the second half of 2008 and in 2009. It also delves into the challenges posed by highly liquid conditions in international financial markets combined with high prices for the region’s key commodities. Finally, it analyzes the situation in the countries of Latin America and the Caribbean during 2010 into the first part of 2011.

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Regional overview

ECLAC projects growth of 4.7% for the region in 2011, which represents a rise of 3.6% in per capita GDP. Growth will be driven by the ongoing recovery that began in the economies late in 2009, although slackening in the global economy, coupled with the gradual withdrawal of the crisis-response policies implemented by the region’s governments, are acting as a drag on the rate. As will be explored below, economic expansion should continue in the region, even with global conditions turning less favourable and the performance of certain macroeconomic variables raising complex policy dilemmas for economic authorities in the region. As a result, regional growth is expected to ease back to around 4.1%, equivalent to a rise of 3% in per capita output, in 2012.

English

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