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Andean growth end year sad reality check thingy

Hey man slow down, slow down
Idiot slow down, slow down
The Tourist, Radiohead, 1997

Chile’s Central Bank today announced a downward revision of 2012 GDP growth, cutting the forecast from 4.25%-5.25%  (made in Sep’11) to 3.75%-4.75%. It’s worth noting that Chile’s CenBank people are usually 1) first in the region to spot macro headwinds and 2) conservative in their approach.
Meanwhile in Peru, while official government propaganda claptrap says that country will see 6% growth next year, head of the PUCP University Economics team Waldo Mendoza brings a dose of reality to affairs in this interview. Here’s one Q&A excerpted and translated:

Q: But government projections indicated growth of between 5% and 6% for 2012 and the years that follow. What’s your opinion?

Walter Mendoza: “Even in an optimistic scenario those projections will have to be cut back, I’d say to between 3% and 4% for the years 2011 to 2015.  Meanwhile it’s more difficult to estimate in a pessimistic scenario, but I’d say between 1% and 3%. Therefore I see a complicated period for President Humala because when growth rates drop, various problems appear.”

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