IMF: Four Latin American states less affected by global financial crisis

Special Report: Global Financial Crisis

BOGOTA, May 7 (Xinhua) -- Colombia, Chile, Peru and Uruguay are the four Latin American countries less affected by the global financial crisis, an International Monetary Fund (IMF) official was quoted by local press as saying on Thursday.

The IMF's director for the Western Hemisphere Nicolas Eyzaguirre, who was here to present a report, said the economies in the region will take less time to recover.

Compared with big regional economies like Brazil and Mexico, the four countries can recover faster because of their smaller manufacturing sectors, which have been heavily hit by the decline in export during the global financial crisis, Eyzaguirre said.

He said in particular Colombia is a "privileged" country with a solid macro economy. The IMF forecast zero growth this year and a 1.3 percent growth in 2010 for Colombia.