Santiago de Chile, 20 April (EFE).- The Economic Commission for Latin America and the Caribbean (ECLAC) on Thursday slightly lowered its regional GDP growth forecast for 2023 to 1.2% from the 1.3% estimated last December, mainly due to the “growth”. external uncertainties and internal constraints”.
The United Nations agency, based in Santiago, Chile, warned that the scenario is “complex” as global interest rate hikes are compounded by “the financial turmoil seen in early March,” including the failure of various banks, including Silicon Valley Bank, in the United States.
“The 2023 growth forecast is subject to downside risks given the possibility that the turmoil in the global banking system will recur and intensify, leading to a prolonged tightening of global financial conditions,” ECLAC warned. EFE
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