MEXICO CITY, Aug. 23 (Xinhua) -- The Economic Commission for Latina America and the Caribbean (ECLAC) on Thursday reduced its 2018 growth forecast for the region from 2.2 percent to 1.5 percent.
International uncertainty and volatility had led to a 0.7 percent reduction in average growth compared to the last forecast in April, said ECLAC Executive Secretary Alicia Barcena, who presented the agency's 2018 economic outlook.
The region was also witnessing a "fall in the flow of capital towards emerging markets in recent months and a rise in sovereign risk levels," Barcena said.
"Central America and Mexico (will) do better than South America in 2018," Barcena noted.
Central America leads growth projections, with 3.4 percent expected growth while the Caribbean is expected to see a 1.7 percent expansion. South America trails with 1.2 percent, according to the report.
