"Latin America will enter a recession in 2009 as a result of the global economic downturn, International Monetary Fund (IMF) Director of Western Hemisphere Nicolas Eyzaguirre said on Wednesday..." [Xinhua/Factiva]

AFP adds that "...Eyzaguirre said he expects the average country in Latin America to be 'in negative territory' in 2009, 'but not that much.'... [He] said today's more negative outlook would still pale compared to losses projected in the big three economic regions: the United States, Europe and Japan.... [But] Eyzaguirre warned Latin American financial institutions could suffer continued capital losses, describing the situation as 'delicate.'..." [Agence France Presse/Factiva]

EFE writes that Eyzaguirre "...recalled that the region 'used to be the most volatile in the world' and emphasized that in previous crises Latin America had growth rates 2-3 percentage points lower than the world-wide average. 'This time the (negative) growth will be above the average,' Eyzaguirre insisted. He indicated that this is possible thanks to the macroeconomic measures adopted in the past few years to improve the strength of the economy...." [EFE/Factiva]