In its July review, the International Monetary Fund (IMF) did not modify the global economic growth rate for 2024, which remains at 3.2% as in April. However, the global average masks changes in the estimates by both geographic areas and by countries.
For example, in this review, the IMF highlights that Asian economies will continue to drive global economic growth. It has revised upwards the projections for China and India, setting their growth rates for 2024 at 5% and 7%, respectively.
On the other hand, the projections for Latin America and the Caribbean have been revised downward for 2024 due to the anticipated negative impact of floods on economic activity in Brazil, as well as lower demand in Mexico and also in Argentina.
