The 2011-2012 edition of Latin America and the Caribbean in the World Economy, which focuses on the theme of continuing crisis in the centre and new opportunities for developing economies, is divided into four chapters.
The first chapter examines the difficult international economic situation and the outlook for the rest of the decade. The global economy is facing difficult conditions again in the second half of 2012, with the epicentre in the euro zone. A number of European economies are mired in deep recession and their governments are having serious difficulties in reconciling the need to regain growth with the urgency of reducing their high levels of deficit and debt. As a result, mounting uncertainty and turmoil are sapping a global recovery that is already the weakest in 40 years.
