Economic Outlook

By Isaac Cohen*

With the start of this year’s Spring Meetings, the International Monetary Fund released the World Economic Outlook, its flagship publication. Global growth forecasts have been revised downward to 3.2 percent for this year and 3.5 percent for 2017. According to the Fund’s Economic Counsellor and Director of the Research Department, Maurice Obstfeld the fundamentals of the world economy are fragile, with potential risks. Among these last are financial turbulence, a sharper slowdown in China, lower oil prices and some noneconomic shocks, such as terrorism, refugee flows or global epidemics.

Growth in the advanced economies has lost momentum. This year, the US economy is projected to grow 2.4 percent, while in the euro area and Japan growth will remain modest at 1.5 percent and 0.5 percent, respectively. By contrast, growth will remain uneven in emerging market and developing economies. Some emerging market economies, such as Brazil and Russia are in recession, while India remains a bright spot and China slows down in transition to more sustainable growth based on consumption and services. In Latin America the outlook for commodity exporters remains weak, with the exception of Mexico and Central America, both benefitting from the US recovery and the latter benefitting also from lower oil prices.

*International analyst and consultant. Commentator on economic and financial issues for CNN en Español TV and radio. Former Director, UNECLAC.

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About Ramón Jiménez

Ramón Jiménez, actual Managing Editor de MetroLatinoUSA. Periodista que cubre eventos de las comunidades latinas en Washington D.C., Maryland y Virginia. Graduado de la Escuela de Periodismo de la Universidad del Distrito de Columbia. Galardonado en numerosas ocasiones por parte de la Asociación Nacional de Publicaciones Hispanas (NAHP) y otras organizaciones comunitarias y deportivas de la región metropolitana de esta capital. También premiado en dos ocasiones como Mejor Periodista del Año por la cobertura de la comunidad salvadoreña; premios otorgados por la Oficina de Asuntos Latinos del Alcalde de Washington (OLA) y otras organizaciones. Ha sido miembro del jurado calificador en diferentes concursos literarios, de belleza y talento en la región metropolitana. Ha visitado zonas de desastre en Nicaragua, Honduras y El Salvador e invitado a esos países por organizaciones que asisten a personas de escasos recursos económicos. Antes trabajó en otros medios de prensa de Virginia y Washington, D.C., incluyendo reportajes para una agencia noticiosa mundial.

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