Latin America faces tough economic times ahead, says UN

Latin America and the Caribbean is the region that faces the most uncertain economic future this year and next outside of Russia, with just 0.5 percent growth expected this year and 1.7 percent next year, the United Nations said yesterday. The World Bank, meanwhile, called on the region to become more flexible to deal with the economic headwinds. “Venezuela is falling into a deeper recession, while Brazil and Argentina are expected to contract by 1.1 percent and 0.4 percent in 2015, respectively,” the United Nations said in its World Economic Situation and Prospects mid-year report. More…