, with expected expansion rates of between 3% and 4%, the Esade 2020 economic and financial report has projected.
The analysis foresaw that Latin America's economy will recover as a whole —after a weak 2019.
This is one of the main conclusions of the Esade 2020 report, edited by Jose Ignacio Conde-Ruiz —a visiting professor at Esade— and prepared with the collaboration of Banco Sabadell.
"
Peru, Colombia, and Chile will remain the economies that will grow the most in the region, maintaining a rate of
between 3% and
4%, as long as the political instability registered during the recent months does not affect this growth," the document read.
Likewise, it said that Brazil may accelerate its growth rate up to 2% and Mexico up to 1.4%. Despite some improvement, Argentina may remain in recession.
Global perspective
This recovery adds to the growth of the global economy in 2020, which —according to Esade experts— will stand at 3.4% thanks to the support of macroeconomic policies and the recovery of some major emerging economies that saw problems recently.
The report also indicated that developed economies will grow by around 1.8%, a figure very similar to that of the previous year. The United States —despite slowing down— will register an increase of 2.1%.