The pace of economic growth has edged down in many (but not all) Latin countries from high rates in 2006 and early 2007. The latest International Monetary Fund (IMF) forecast, however, continues to project solid rates of growth this year and next in most Latin American countries.
With a few notable exceptions, inflation has remained relatively well under control;  2  BIS Review 40/2008  in most countries, rising commodity prices have led to only modest increases in headline inflation rates. In light of the recent indications of a weakening U.S. economy, is there any historical precedent for Latin America to avoid spillovers?