The International Monetary Fund classifies Brazil as an economic power in Latin America

According to the expectations of the International Monetary Fund (International Monetary Fund), Brazil was considered the greatest economic power in Latin America in 2023, followed by Argentina and Mexico.

According to the World Economic Outlook report, the research compared GDP forecasts from different locations in Latin American countries.

Therefore, the estimated figure was US$2.13 trillion for Brazil, US$1.81 trillion for Mexico, and US$621.83 billion for Argentina.

At the same time, the Global Financial Stability Report revealed that emerging markets are also showing optimism and remaining resilient to fluctuations in global interest rates currently in effect.

This is mainly due to differences in central banks' monetary policy that occurred in the past two years.

Taking into account that these entities are responsible for regulating and determining the monetary issues of the country.

“In particular, major emerging markets were more insulated from global interest rate fluctuations than expected based on historical experience, especially in Asia,” the document analyzes.

The 20 largest economies in Latin America

IMF estimates of the economy in Latin American countries – Photo: Reuters/Yuri Grebas/Reproduction

The study revealed the names of the 20 largest economies in latin america He also pointed out a very interesting landmark.

This is the persistence of foreign investors in emerging economies, even as global interest rate volatility rises.

In similar incidents, what was more common was a general stampede of external capital, which in turn was reinstated in countries whose economies were more stable. According to the publication, this shows an effort by the markets to mitigate external problems.

“Perhaps most importantly, and closely in line with the advice of the International Monetary Fund, major emerging markets have strengthened the independence of central banks, improved policy frameworks and gradually gained more credibility.”

Learn about the list of the 20 largest economies:

1. Brazil: 2.13 trillion US dollars

2. Mexico: 1.81 trillion US dollars

3. Argentina: 621.83 billion US dollars

4. Colombia: 363.84 billion US dollars

5. Chile: 344.4 billion US dollars

6. Peru: 264.64 billion US dollars

7. Dominican Republic: 120.63 billion US dollars

8. Ecuador: 118.69 billion US dollars

9. Puerto Rico: 117.52 billion US dollars

10. Guatemala: 102.77 billion US dollars

11. Venezuela: 92.21 billion US dollars

12. Costa Rica: 85.59 billion US dollars

13. Panama: 82.35 billion US dollars

14. Uruguay: 76.24 billion US dollars

15. Bolivia: 46.8 billion US dollars

16. Paraguay: 44.14 billion US dollars

17. El Salvador: 35.34 billion US dollars

18. Honduras: 33.99 billion US dollars

19. Trinidad and Tobago: 27.89 billion US dollars

20. Haiti: 25.99 billion US dollars