Latin America’s Weak Economic Recovery
With the right approach, Latin America, which has recorded just 0.5% average annual GDP growth during the last five years, could improve its economic prospects considerably, potentially avoiding another lost half-decade. The question is whether it will muster the political will to take the necessary steps.
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BOGOTÁ – Latin America is reaching the end of its fifth consecutive year of anemic economic growth. From 2014 to 2018, annual GDP growth has averaged just 0.5%, slower than during the first five years of the Latin American debt crisis (1981-85) and the five that followed the 1997 Asian financial crisis (1998-2002). It is safe to say that Latin America has suffered a “lost half-decade.”