Countries like Argentina, Bolivia, Ecuador and The Savior They would be the most affected, according to the credit rating agency, Fitch.
Fitch forecasts “modest economic slowdown” for Latin America in 2024
AFP
Fitch Ratings mentioned on Thursday that his outlook for Latin American economies in 2024 in ”neutral”, with a low activity for some countries and others registering modest recoveries, which would lead to a ”modest slowdown” for the region in relation to 2023.
The external environment will be more difficult, especially for countries like Argentina, Bolivia, Ecuador and The Saviorcountries “with low sovereign ratings that lack external buffers, little exchange rate flexibility and market access.”
Given the lower growth of USAthe pressure will increase to Mexico and Central Americahighly dependent on remittances and commercial links with the largest economy in the world.
Fitch highlighted that regional growth “should decline until 1.6% in 2024 from 23% in 2023, weighed down by lower growth in Brazil and Mexicoanother year of atony in Colombia and the recession in Argentina“.
”This will be offset by modest recoveries in Chili and Peru“he added.
Source: Ambito
