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Abstract
The economic recovery is under way, with upward revisions to global growth as financial markets normalized faster than expected and policy stimulus took effect. The upswing in advanced economies is still muted and dependent on policy support. In contrast, many emerging markets are experiencing a more vigorous upswing amid easy financing conditions and rising commodity prices.
Abstract
The Latin America and Caribbean region is recovering from the crisis somewhat faster than previously anticipated. However, the speed of recovery and the associated policy challenges differ markedly across countries. For some of the larger commodity exporters, a favorable external environment and a strong rebound in domestic demand are boosting growth. Challenges ahead include managing the upswing of the economic cycle and adjusting to easy external financial conditions. In contrast, for some of the smaller commodity importers, challenges will likely be shaped by continued sluggish activity, particularly in countries more reliant on tourism and constrained by high debt levels.