Divergent trends
Growth dynamics among the region’s financially integrated economies, such as Brazil, Chile, Colombia, Mexico, Peru and Uruguay, are expected to diverge over the period ahead, “reflecting differentiated exposures to global commodity markets and other country-specific factors,” the IMF stated.
“Near-term prospects remain fairly dim for South America, with output contractions projected in three of the largest economies for 2015—Argentina, Brazil, and Venezuela—while only Chile and Peru would see a pick-up in growth,” it projected.