Venezuela, Haiti the only countries in the region in recession

Venezuelan economist Asdrúbal Oliveros (File photo)

Economy
Although the economic activity showed "some improvement" in the third quarter and it will certainly improve in the fourth quarter, "Venezuela and Haiti will be the only countries in the region in recording negative growth at the end of the year," said economic analyst Asdrúbal Oliveros.

Asdrúbal Oliveros, a director of economic research firm Ecoanalítica, said that Venezuela's Gross Domestic Product would drop 2 percent in 2010, contrary to what was expected in the economies of the region. Oliveros added that "Chile is expected to grow 6 percent; Peru and Brazil (also 6 percent); Mexico (4 percent); Colombia (3 percent). However, Venezuela and Haiti would be the only countries in the region that will be experiencing negative growth in Latin America."

The downturn is partly due to exchange rate policy and expropriations, the expert said.