IMF forecasts negative growth for Latin America, CaribbeanJanuary 23, 2016 - 12:35 AMT PanARMENIAN.Net - The International Monetary Fund is forecasting that the economies of Latin America and the Caribbean will maintain this year the same overall 0.3 percent negative growth seen in 2015, the Associated Press reports. Alejandro Werner is the IMF's chief economist for Latin America. He says it will be the first time the region has seen two consecutive years of economic contraction since the external debt crisis of 1982-83, which gave rise to the so-called lost decade. Werner said Friday the negative outlook is based on economic difficulties in Argentina, Brazil, Ecuador and Venezuela, while most other countries in the region should post moderate growth. He said falling commodities prices have resulted in some $200 billion in losses for export earnings in Latin America's seven leading economies. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | U.S. welcomes Armenia, Azerbaijan’s border delimitation announcement Blinken said it is an important step towards concluding a durable and dignified peace agreement. Residents Of border villages protest as Armenia, Azerbaijan agree on delimitation Residents of several Armenian communities in the northeastern Tavush province began protests late on Friday. European Parliament to discuss repression in Azerbaijan The European Parliament will discuss repression of civil society in Azerbaijan on April 24 PACE wants concessions from Azerbaijan to accept Baku back A PACE co-rapporteur said that Azerbaijani authorities must make certain concessions so that the country can return to PACE. |