IMF upgrades Brazil growth to 3.6%, Mexico to 4.3%

WASHINGTON: The IMF on Tuesday raised its 2021 growth forecasts for Brazil and Mexico by eight tenths amid signs spending picked up in the latter part of 2020.

Brazil's economy is expected to expand by 3.6 percent this year following a 4.5 percent contraction last year, the IMF said in its latest World Economic Outlook (WEO).

Meanwhile, the IMF forecasts Mexico's GDP will grow 4.3 percent after contracting 8.5 percent.