IIG Trade Finance Insights Archive/Past Editions
After two years of recession, Latin America and the Caribbean finally face the prospect of better times ahead—if everything goes as planned. The Inter-American Development Bank (IDB) projects relatively low but steady growth of 2% annually for the three-year period of 2017-2019. However, these projections come with more than their share of caveats, hedges and risks.
Even so, the brighter economic picture for the region is spurring trade and business leaders to push for greater economic integration in the region in the form of a Latin America and Caribbean Free Trade Area (LACFTA). This is in stark contrast to the questions that continue to surround the European Union (EU) and the North American Free Trade Agreement (NAFTA), not to mention less prominent trade agreements and partnerships. If such integration occurs, business leaders expect Latin America and the Caribbean to be in a much stronger position to weather new developments, including the potential for a more restrictive trade environment and unexpected global economic shocks.
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