Economy October 16, 2019 | 8:23 am

Despite LatAm slump, Dominican economy to grow 5%: IMF

WASHINGTON.- The International Monetary Fund (IMF) on Tue. predicted that Latin America and the Caribbean will experience economic growth of just 0.2% during 2019, a significant reduction from the 1.4 % expansion projected in April.

The Fund attributed the trend to a lower growth than expected in the two largest economies in the region, Brazil and Mexico, the Argentine crisis and the severe Venezuelan depression, whose domestic product will shrink this year by a third.

The IMF projected that Latin America will rebound and grow 1.8% next year. During 2018 the expansion had been 1%, according to the AP.

The countries with the best performance this year will be Dominica (9.4%), Dominican Republic (5%), Guyana (4.4%) and Panama (4.3%).