The International Monetary Fund expects an expansion of 3.2% for Mexico in 2023

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The International Monetary Fund (IMF) updated its projections for the end of 2023. After estimating an expansion of 1.9% for the Gross Domestic Product (GDP) of Latin America in a report presented in July, the organization now projects a growth of 2.3% for this year.

The improvements in prospects are explained by two giants in the region: Brazil and Mexico. The IMF forecasts growth of 3.1% in Brazil, higher than initially expected.

For Mexico, an expansion of 3.2% is expected, compared to the 2.6% calculated three months ago. The forecast for 2024 is for a slowdown in both countries.

At the same time, the IMF warned of persistent inflation and weaker global growth in 2024: it foresees a global expansion of 2.9% for 2024 and called on central banks to maintain restrictive policies until there is a lasting reduction in inflation. inflationary pressures.

He also stressed that higher interest rates in the US and Europe threaten a rally in emerging market currencies.

Source: El Financiero

The Mexico City Post