Latin America GDP Roundup: Region Proving Increasingly Resilient To Pandemic Strains

• Fitch Solutions has made notable upward revisions to many of its real GDP forecasts in Latin America in recent months. Overall, the agency expects the region to grow 5.2%, up from 4.4% previously (-6.7% in 2020), and 3.3% in 2022.
• Growth will continue to be driven by external demand for commodities and economies’ growing resilience to the impact of public health lockdowns. However, a return to pre-pandemic economic activity remains dependent on vaccinations.
• Despite Fitch’s upward revisions, risks remain solidly to the downside due to the spread of variants of COVID-19 and volatile political dynamics.

(Source: Fitch Solutions)