5 clues to what 2012 holds for Latin America's economy
3. Other ripple effects
In its report "Preliminary Overview of the Economies of Latin America and the Caribbean 2011," the United Nations Economic Commission on Latin America and the Caribbean (ECLAC) said it expected regional growth to slow this year to 3.7 percent, down from 4.3 percent in 2011, adding that the region is not immune to the eurozone crisis.
Alicia Barcena, the executive secretary of ECLAC, said other factors that could hit Latin America as well. “There is a great possibility of a deep crisis in the eurozone, which would significantly affect the global economy overall and would impact our region primarily through the real channel (exports, prices, foreign investment, remittances, and tourism) and the financial channel (greater volatility, possible capital outflows, and difficulties in accessing credit)," she said in a press release.