Brazil leads economic recovery of Latin America, says IBRD
O Estado de S. Paulo
The worst part of the global economic crisis is over and, led by a strong Brazil, Latin America should have growth of 3% in 2010, assessed an authority of the World Bank (IBRD). Augusto de la Torre, chief-economist of the entity for Latin America and the Caribbean, affirmed on Monday, 28, that this year the economy of the region shall shrink nearly 2%. "There is an increasing view that the worst of the crisis is over", he said.
He added that it is clear that Brazil and other countries with strong connections with the Chinese market and with other Asian markets have already left the recession behind. Mexico and other countries of Central America, however, which are more dependent of the United States, will take longer to recover, added de la Torre. "It is the emerging markets - the large emerging markets - that are leading the recovery."
Although the region has relatively gone well through last year's crisis, de la Torre emphasized that the strong fall of the economic activity is still showing its effects. Among them, increasing the poor in Latin America by nearly 10 million people.