Latin America’s economy will stagnate in 2016 as commodity-dependent countries such as Brazil and Venezuela drag down the entire region, offsetting a positive performance in Mexico, the World Bank forecast.
Output in Latin America and the Caribbean will be flat this year, down from a 2.1 percent growth forecast last June, according to the World Bank’s Global Economic Prospects report released Wednesday. That’s due to a weaker outlook for South America, particularly Brazil and Venezuela. South America is forecast to contract 1.1 percent in 2016, versus the 1.7 percent growth the World Bank expected in mid-2015.
Brazil Energy Insight 
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