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 | Turkey extends military presence in Azerbaijan The Turkish parliament has adopted a bill submitted by Recep Tayyip Erdogan to extend the mandate of Turkish troops. Russia to begin assessing migrant workers' speaking skills Rosobrnadzor is planning to change the Russian language exam for migrant workers and include an assessment of speaking skills Armenian, Saudi Foreign Minister meet in Riyadh The two commended the positive dynamics of the development of political dialogue between Armenia and Saudi Arabia Pashinyan: Azerbaijan’s proximity shouldn’t worry border residents At the same time, he said that he “does not guarantee [the security of villagers] one hundred percent”. |