The World Bank’s Chief economist for Latin America and the Caribbean Augusto de la Torre says regional slowdown seems to finally be coming to an end, with average growth expected to turn positive in 2017.
He said the World Bank is emphasizing the need for a major switch of resources, towards the production of goods and services traded in international markets.
According to the new semi-annual World Bank report, Latin American and Caribbean countries are showing signs of economic recovery and an increased volume of exports.
This includes new products in higher quality niches.
It says the recovery is attributed largely to a rebound in South America, where growth is expected to reach one point five per cent in 2017.