From BigGo Finance · BigGo Finance · · 1m 30s
IMF Lowers Latin America Growth, Raises South Korea
IMF cuts Latin America growth forecast to 2.3% while boosting South Korea to 3.3% on AI exports.
In brief
IMF cuts Latin America growth forecast to 2.3% while boosting South Korea to 3.3% on AI exports. IMF lowered Latin America's growth forecast to 2.3% this year and raised South Korea's to 3.3% due to semiconductor exports. Originally reported by BigGo Finance.
IMF lowers Latin America growth forecast
The IMF reduced Latin America and the Caribbean's growth forecast to 2.3% for this year and 2.5% for next year in its October World Economic Outlook.
Latin America struggles with energy shocks
The region faces persistent energy shocks from the Middle East war while barely benefiting from the artificial intelligence boom.
Argentina gets steepest downgrade
Argentina's growth forecast dropped from 4.5% to 2.1% this year, with next year's outlook cut from 4.0% to 3.5%.
Brazil's growth forecast trimmed
Brazil's growth forecast for this year was lowered from 2.4% to 2.2%, with next year's outlook reduced from 2.2% to 1.9%.
Mexico sees modest upgrade
Mexico's growth forecast increased from 1.2% to 1.5% this year due to ai supply chain exports and investment.
Chile's growth plummets
Chile's growth is projected to fall from 2.5% last year to 0.6% this year, with bolivia expected to contract 3.0%.
South Korea's growth jumps
South Korea's growth forecast rose to 3.3% this year, the highest among major economies, driven by semiconductor exports.
Global growth forecast raised
The IMF raised global growth to 3.1% this year, with south korea's upgrade being the largest among major economies.
The big picture
IMF lowered Latin America's growth forecast to 2.3% this year and raised South Korea's to 3.3% due to semiconductor exports.
