Download or read book Finance & Development, December 2005 written by International Monetary Fund. External Relations Dept. and published by International Monetary Fund. This book was released on 2005-12-01 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the resurgence of Latin America. The paper highlights that much of the region has witnessed a swift and robust recovery from the successive financial crises of 2001–02. Within two years, the region’s economic growth reached 5.6 percent in 2004, a 24-year high. Growth rates of about 4 percent in 2005 and 33⁄4 percent projected for 2006 are well above historical averages. Mexico and South American countries have gained, in particular, from the surge in fuel, food, and metals prices, and have generally been able to exploit these opportunities by expanding production.