Some of the IMF's economic growth projections for Latin America and Caribbean countries through 2014 appear questionable, according to a new issue brief from the Center for Economic and Policy Research. The issue brief, "Troubled Assets: The IMF's Latest Projections for Economic Growth in the Western Hemisphere" by economist David Rosnick, finds that for some countries – most notably Venezuela and Argentina – the IMF's projections inexplicably portend a prolonged negative impact of the current world recession, even as countries harder-hit by the downturn, such as Mexico, recover. In other cases, such as Haiti, the IMF projects a surprisingly big growth spurt.
"Of course the IMF is upset with Venezuela and Argentina because of these governments' criticisms of the Fund. But that's no reason to publish implausible economic forecasts for these economies," said CEPR Co-Director and economist, Mark Weisbrot.
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