HC Deb 23 January 2003 vol 398 c422W
23. Brian White

To ask the Chancellor of the Exchequer, what assessment the International Monetary Fund has made of the current economic situation in South America. [92755]

Ruth Kelly

The latest IMF assessment of economic developments and prospects in Latin America was in its 'World Economic Outlook', published in September 2002. That showed 2002 was a difficult year, with an estimated fall in GDP of 0.6 per cent. for the region, but a recovery is expected during 2003. Growth rates experienced in 2002 varied widely, but countries with sound policy frameworks were generally better able to withstand the period of uncertainty.