The Latin America Economy: Signs of Resilience?

According to the International Monetary Fund, the economic outlook of the Latin America region, although impacted by the current global financial crisis, does look better than most geographies (compare to the decrease in GDP in the US posted yesterday

• Main 11 Latin American economies expect GDP growth of 4.8% in 2009(p) vs. 2008(e), growing to US $5.837 trillion in 2009(p)
• In spite of current economic conditions 8 out of 11 main Latin American economies expected to grow 5% or more in 2009(p) vs. 2008(e)
• Main Latin American economies able to sustain a 6.8% GDP growth in 2008(e) vs. 2007, losing only 1.6% percentage points, in spite of global economic turmoil

Of course, let's not forget that these data is still based on projections for the remainder of 2009, and that there is still a long time to go. Also, some of the economies have been badly battered by the current economic situation, while others, particularly Brazil and Chile, are showing interest signs of resilience. As an example Chile, and specially Brazil (a long time ago, major borrower to the IMF), are becoming creditors for the International Monetary Fund.

... some data to think about ...