World Bank raises its growth forecast for Latin America to 4.4%

Panama and Peru are the countries that will experience the highest economic growth this year, with an expansion of 9.9% and 8.1%, respectively. Brazil and Mexico, the two largest economies, will grow by 3% and 4.5%, respectively.

RIO DE JANEIRO, BRAZIL - The economy of Latin America and the Caribbean, the most affected by the COVID-19 pandemic, will rebound by 4.4% in 2021 after last year's 6.7% drop. However, it may enter an "accelerated" process that increases "inequality within and between countries", the World Bank warned today in its half-yearly report on the region.

Thus, the agency slightly improves its latest forecasts, in which it predicted an expansion of the regional Gross Domestic Product (GDP) of 4% for 2021e after a 7.9% slump in 2020.

"This pandemic gave rise to a process . . .

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