Title: Report on the Latin American economy. Second half of 2022
Abstract: Boxes1 Economic activity in Latin America is proving more resilient than expected a few months ago -GDP growth in Latin America surprised on the upside in 2022, standing somewhat above 3%, similar to the rate recorded in emerging Asia and higher than that observed in eastern Europe (see Chart 1.a).Growth slightly exceeded 4% in Central America and the Dominican Republic (see Box 1).This enabled activity in the region's main economies to surpass its pre-pandemic level.-Economic performance was uneven across countries, however, with growth rates ranging from 2.5% in Chile to 7.5% in Colombia. 1 These differences owed, among other factors, to economic policies, migrant remittances, 2 external demand and commodity prices.In this respect, the Chilean and Peruvian economies felt the adverse impact of commodity prices on their terms of trade (see Chart 1.b).1 Latin American Consensus Forecasts (January 2023).2 World Bank.(2022)