Growth Rates in Latin America slowing down

voxeu.org reported….In recent years, the growth rates of Latin American countries have been cooling-off in comparison to the period of 2004-08. This column argues that the cooling-off is not due to a change in external factors because these have remained favourable. Persistent economic growth can be achieved by internal transformations. It cannot be sustained solely by the external conditions.
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Latin American growth is cooling –off sharply. In contrast with the 6.6% average growth rates prevailing between September 2003 and September 2008 – the pre-Lehman-crisis “Golden Years” for the region – LAC-7 GDP growth rates in 2012-13 are decelerating significantly, and reverting back to their mediocre historical average displayed over the last 20 years (see Figure 1).1 Moreover, growth rates are cooling off in almost every country in the region. Read Article