Growth in Latin America will strengthen this year according to World Economic outlook April 2013 from IMF. Activity is expected to recover in Brazil, the region’s largest economy, in response to the large policy rate cuts deployed during the past year as well as to measures targeted at boosting private investment.
In Brazil, growth will strengthen to 3 percent, from less than 1 percent in 2012, reflecting the lagged impact of domestic policy easing and measures targeted at boosting private investment. However, supply constraints could limit the pace of growth in the near term. Activity in other commodity-exporting countries is expected to remain strong.
While emerging market demand has moderated from its rapid growth in recent years, demand picked up by 1.6 mbd during the second half of 2012, led by Brazil, China, and countries in the Middle East and Asia. These emerging market economies are expected to account for all the growth in global demand in 2013, which is projected to be little more than 0.8 mbd.