World Bank: Apart from Venezuela, Latin America is set for growth in 2017

The World Bank on 5 October 2016 released its semiannual report on Latin America, "The Big Switch: Restoring Growth through Trade," in which it predicted that with the exception of Venezuela, the region will experience growth in 2017. The region is set to contract by 1.1 percent in 2016, but will grow by 1.8 percent in 2017, bolstered by increased regional integration (El Carabobeño). In that report, the World Bank predicts Venezuela's economy will contract by 10 percent in 2016 and 2.6 percent in 2017. According to World Bank Chief Economist for Latin America and the Caribbean Augusto de la Torre, Venezuela is the "sick man" of the region (Efecto Cocuyo).