Description

The Latin American region is expected grow at an average rate of 3.5% in 2013. A fall in global demand and commodity prices has hit the region badly. However, governments in the region are making efforts through trade alliances and stimulus packages, to spur the growth in the region. Trans-Pacific trade alliance talks, which are likely conclude in the second half of 2013, act as a growth driver for Chile and Mexico. Similarly, the Colombian Government’s $2.7 billion stimulus package can build the growth momentum in the region. Falling US and Chinese imports, the two main markets for the Latin American economies, is a concern at the moment.