The International Monetary Fund says the economic prospects for Latin America and the Caribbean have marginally improved for this year.

In its latest economic outlook update, the agency said the region’s growth will be 0.3 percent higher then forecast in April.

Gross Domestic Product for 2023 is now set at 1.9 percent, while the forecast for 2024 remains at 2.2 percent.

Chief Economist at the IMF Pierre-Olivier Gourinchas, says for most emerging and developing markets, the outlook is stable.

He says downside risks also remain high.

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 Edited by Jesus Chan

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