World Economy

LatAm Hurting

LatAm HurtingLatAm Hurting

After the debt crisis of the 1980s, seeking aid from the International Monetary Fund had about as much appeal to Latin American nations as a root canal, NewsNow reported. The plunge in commodity prices may leave them no choice. Once favored by investors for their high-flying resource economies, countries including Brazil and Argentina are suffering from drops in the cost of everything from oil to iron ore and soybeans, along with weakening demand from China and a strengthening dollar. Regional output is set to shrink for a second straight year for the first time since the crisis three decades ago, according to the IMF. The slump is raising the prospect that some countries may have to seek assistance from IMF.