Latin America to grow 4.75%: IMF
2011-05-04 14:33:02
The International Monetary Fund (IMF) predicted growth of 4.75 per cent in Latin America for 2011 and warned of risks of overheating, according to a report presented Tuesday in Mexico City.
"Latin America continues growing at a vigorous rhythm backed by a strong increase in internal demand," the IMF said in the presentation of the report on regional financial perspectives.
"But the region is experiencing an excess of stimulus measures, which brings risks of overheating."
The estimate of 4.75 per cent growth is slightly above an IMF figure released in April of 4.7 per cent.
Latin America saw growth of six per cent in 2010.
The IMF said that high prices of raw materials and favourable conditions for external financing were giving a boost to regional growth, "in some cases at a faster rhythm than some economies are prepared to manage."