Latin America & Caribbean Expect Positive Growth in 2014

Latin America and Caribbean region are both now moving on a path of high economic growth and they are capable to manage risks of economies plummeting for sustaining stable financial economic environment. As per a recent statement of Alejandro Werner, who is the Director of the Western Hemisphere, Department of the International Monetary Fund, although the recovery process in the region is not very fast but has been observed to remain positive.


While attending a forum organized by Latin Trade Group, Alejandro Werner alerted concerned nations to remain prudent. Because there are many obstacles to retard the development-- high fuel prices, slowdown of Chinese economy, changes in U.S. policy which may have negative effect on the region's fragile economy. The countries should recognize good opportunities and reap benefits with right fiscal or monetary measures.

Chile, Columbia and Peru are the frontrunners in this league of recovery. The countries like Brazil and Mexico have ample scopes to achieve 3% growth rate. However, Mexico's growth rate has been restricted to 1.2% only because of its slower reformation process. The poor performances by its construction and manufacturing sectors have further aggravated the situation.

The tourism department in Haiti can be a good source of revenue if it is properly taken care of. Tourism development is a matter of concern even for the developed countries in Europe and U.S. Many economies in the Caribbean region are tourism dependent. Some of them, including Jamaica have opted for financial assistance from IMF. Recently the Finance Minister of Haiti visited Washington D.C to meet the fund's members.

Haiti's economy is growing no doubt but concern remains over its business environment. The Haitian parliament has recently rejected the forthcoming fiscal budget as it had proposed many unnecessary taxes. The Haitian custom department has reopened after a two weeks strike.

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