SANTIAGO, Dec 17 (Reuters) - Growth in Latin America and the Caribbean is expected to rebound slightly next year, growing 0.2 percent in 2016 after a contraction of 0.4 percent this year, the United Nations’ regional arm said on Thursday.
“The volatility and uncertainty observed in 2015 will continue next year, which means that some emerging economies will still have difficulty obtaining resources in international markets,” said the Santiago-based Economic Commission for Latin American and the Caribbean in a report.
It forecast that regional powerhouse Brazil, in the grip of recession, would contract 3.5 percent in 2015 and 2.0 percent next year.
Meanwhile, Argentina, whose new President Mauricio Macri floated the peso on Thursday in a long-awaited move to take the country into a more free market direction, is predicted to grow 0.8 percent next year, below this year’s 2.0 percent forecast.
For a breakdown of all the growth estimates please see here (Reporting by Antonio de la Jara, Writing by Rosalba O'Brien)