Latin America is once again on track to grow more slowly than the rest of the world, with the regional economy set to underperform those of South Asia and even war-battered Eastern Europe this year, according to a new World Bank report.

The region is now expected to grow 2% this year, the World Bank projects, an upgrade from its June estimate of 1.5% despite high interest rates, increased energy costs due to Russia’s war in Ukraine and a Chinese slowdown that threatens to dampen commodity prices. Employment, poverty and inequality indicators, meanwhile, continue to improve.

Up Next

World Bank Sees Latin America Lagging Rest of the World — Again