In the case of Guatemala, the growth projection will be 4%, Honduras 3.8%, Costa Rica 3.3%, Nicaragua 3% and Panama 7%.

The Economic Survey 2022 also shows that the conflict in Ukraine intensified the upward dynamics that commodity prices had already been showing since the second half of 2020, causing some of them to reach historic levels.

For the average for the region, the effect is mixed, with a 7% drop in commodity terms of trade projected.

Inflation, meanwhile, has continued to rise, reaching a regional average of 8.4% by june 2022, which is more than double the average value recorded in the 2005-2019 period.

In addition, the study notes that, in june 2022, Central America and Mexico's inflation level is 7.5%, causing central banks to increase their monetary policy rates and reduce monetary aggregates.

Between 1990 and 2021, the average investment growth rate was only 2.9% per year.

The Consumer Price Index (CPI) rate in 12 months from january 2005 to june 2022 went from 4.1% to 8.4%.

Therefore, ECLAC makes an urgent call to increase investment in Latin America and the Caribbean, which was at the lowest levels at the end of 2021 compared to other regions.