The International Monetary Fund (IMF) says the Latin American and Caribbean region is projected to grow by 1.8 per cent for 2023.
The updated estimate is 0.1 per cent higher than what was forecast in October.
The multilateral financing agency says the revision was driven by a 0.2 per cent uptick in Brazil's growth, as well as a 0.5 per cent upgrade for Mexico.
The IMF says this was due to unexpected domestic demand resilience, higher-than-expected growth in major trading partner economies, and in Brazil, greater-than-expected fiscal support.
The IMF says tighter financial conditions, lower prices of exported commodities, and downward revisions to trading partner growth will impact the region's output.
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