Fundamentals remain good but growth set to slow in 2011 (Q2 10)

The economic resurgence in Latin America is likely to stay strong for a while yet. Brazil and Peru should remain the region’s best performers – we expect both to expand by 6% this year. Mexico, Chile and Colombia are all likely to grow at around 3-4%. Looking further ahead, the medium-term growth prospects for most countries are positive too. In contrast to much of the developed world, banks remain in good shape and sovereign debt levels are relatively low.