Colombia vs. the world: which countries will grow the most and least in their economy in 2024 and 2025

The International Monetary Fund (IMF) hhas maintained its growth forecasts for the global economy at 3.2% for 2024, although it has reduced its projections for 2025 by one tenth, also placing them at 3.2%. This stability occurs in a context of increasing uncertainty, where various risks could negatively affect these forecasts.

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Economy.

Petya Koeva Brooks, deputy director of the IMF’s Research Department, highlighted that the risks are mostly to the downside. These include escalating geopolitical conflicts, rising protectionism and potential weakness in labor markets. Although disinflation is advancing, the global economy faces mediocre growth in the medium term, projected at 3.1%, below the historical average of 3.8%.

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The IMF report, presented within the framework of its annual meetings with the World Bank, reveals that advanced economies will only grow 1.8% this year, while emerging economies are projected at 4.2%. However, the eurozone has seen a reduction in its forecasts, with growth estimated at 0.8% in 2024.

Colombian economy.

EFE

ParticularlyLatin America and the Caribbean will experience slight growth of 2.1% in 2024, while Brazil’s GDP is expected to grow 3%, and Mexico faces a setback in its projections due to a weakening of domestic demand.

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The IMF emphasizes the importance of fiscal consolidation and debt management, especially in developing countries, to mitigate the effects of restrictive monetary policy. Despite the challenges, Koeva Brooks notes that the region has handled global economic shocks relatively well and suggests that, excluding Argentina and Venezuela, the outlook is more optimistic.