February 17, 2005
Latin America sees strong growth

(BBC World) - "Some of the main economies in Latin America have posted better-than-expected economic growth. Venezuela, Argentina and Mexico confirmed growth of 17.3%, 8.8% and 4.4% respectively for 2004 while - at 5% - Peru saw its strongest growth since 1997.

Growth was based on strong exports, fuelled by demand for commodities, especially in the US and China. Forecasts are for strong growth in 2005, if global demand stays strong.

Argentina expects to see GDP growth of 5.5% in 2005 while Peru, Mexico and Venezuela forecast growth rates of 4.5%, 4.8% and 5% for 2005.

International Monetary Fund (IMF) general manager Rodrigo Rato, has expressed his optimism for the region. 'Latin America could firmly expect a sustained growth for the next ten years,' he said in a press conference in Bogotá, Colombia (...)".