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Latin America Investment News on Viva Tropical

Panama Top Performer, According to World Bank

Article Summary:

Panama and the Dominican Republic are the only countries within Latin America and the Caribbean to achieve the ranking of “exceptional” growth given by the World Bank.

Photo Credit: Revista Summa

Original Article Text From Revista Summa via Google Translate :

Dominican Republic and Panama in the Top-Performing countries, according to World Bank
The World Bank (WB) yesterday included Dominican Republic, and Panama, as the only countries in the region to achieve growth “exceptional” within the economies of Latin America and the Caribbean.

Augusto de la Torre, World Bank Chief Economist for Latin America and the Caribbean, said in presenting the report “Latin America faces the volatility, the dark side of globalization”, that the growth of countries reflect two major forces in the forecasts for 2013, although the estimate is consistent with low inflation, 3.5% and 4.1%.

He said the forecasts in the region are subject to numerous uncertainties and do not converge.

Peru, Panama, Dominican Republic and Colombia grow above the average for the region, said an economist at the press conference chaired by Sergio Jellinek. He said the forecasts are down half a percentage point on regional growth, due to uncertainty in Europe.

Dominican Republic will grow 4.5% this year and next projected by the International Monetary Fund (IMF), while European countries still impacted by the crisis, especially those in the eurozone. De la Torre said that most Anglophone Caribbean countries are highly exposed to external volatility, as their space is limited by the size, openness and high levels of debt.

He said that Mexico is my exposure to U.S. economic activity, but has good responsiveness and reasonable mattresses. Costa Rica, Panama and Dominican Republic are the only countries in the region with moderate vulnerability.

Dominican Republic is a country that has been growing vigorously, one of the best performers in the region, and is tightly integrated flows of trade and financial flows and thus to capture the benefits of globalization need to capture the potential external volatility said the economist.

“RD is just the kind of countries in the region in which we say, for which the improvement is made in fiscal policy in monetary or prudential can have many benefits,” he said.

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From Revista Summa

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