World Bank warns of Latin America’s ‘fragile’ recovery

Washington, Oct 5 (AFP/APP):The World Bank on Friday expressed concern over the “fragile” economic recovery in Latin America and the Caribbean, weighed down by Venezuela’s spiraling crisis and weak performances in Brazil and Argentina.
“We’ve hit a bump in the road to recovery,” Carlos Vegh, World Bank Chief Economist for Latin America and the Caribbean said in a report.
“This makes it all the more important to better understand and manage risks and other shocks, from financial turbulence to natural disasters.”
This “fragile recovery highlights the need to increase efforts to build resilience and manage risks,” he added.
After a six-year regional economic slowdown, the region had a 1.1 percent growth spurt in 2017, and was expected to grow at increasing rates in the following years.