Mexico, Argentina and Venezuela in severe recession; Peru and Uruguay still growing

The IMF has published its World Economic Outlook (October 2009).

http://www.imf.org/external/pubs/ft/weo/2009/02/pdf/text.pdf

It is forecasting a contraction of -2.5 % for Latin America (on average), and a recovery of 2.9 % in 2010.

The only two countries forecast to show growth in 2009 are Peru (+1.5 %) and Uruguay (0.6 %).

On the other hand, Mexico will fall by -7.3 % (and that might be an underestimation.

Argentina will contract by -2.5 %, and Venezuela by -2.0 %. Although these, again, could be underestimates.

"Especially significant export revenue losses were experienced by the energy-intensive economies of Bolivia, Ecuador, and Trinidad and Tobago".