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OECD report predicts Latin America's economic growth to slow for first time in a decade
Jose Angel Gurria, Secretary General of the Organization for Economic Co-operation and Development OECD, holds the economics perspectives for Latin America report as he speaks next to Spanish Foreign Minister Jose Manuel Garcia-Margallo, right, at the 22nd Iberoamerican summit in the southern Spanish city of Cadiz, Friday, Nov. 16, 2012. Cadiz host a two-day summit that brings Latin American leaders together with those of Spain and Portugal, two countries badly hit by the economic crisis. A report by two international organizations says economic growth in Latin America will ease from 4.4 percent in 2011 to 3.2 percent in 2012, the first slowdown in nearly a decade. (AP Photo/Miguel Gomez)
CADIZ, Spain - A report by two international organizations says economic growth in Latin America will ease from 4.4 per cent in 2011 to 3.2 per cent in 2012, the first slowdown in nearly a decade.
But the Organization for Economic Cooperation and Development and the Economic Commission for Latin America and the Caribbean said the region's economy would accelerate again by 4 per cent in 2013.
The organizations said Latin America's outlook remains relatively positive, but is exposed to uncertainty in the global economy. They urged governments to strengthen growth and counter risks.
The report was released Friday in this southern Spanish city on the first day of the Iberoamerican summit that brings Latin American leaders together with those of Spain and Portugal, two countries badly hit by the economic crisis.
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