Despite Latin America’s generally sound macroeconomic fundamentals, the latest global economic and financial crisis presents a range of challenges, according to the International Monetary Fund’s latest Regional Economic Outlook for the Western Hemisphere. Downside risks are significant, with some countries more vulnerable than others. But growth has so far held up reasonably well in Latin America and the Caribbean, the IMF notes in Shifting Winds, New Policy Challenges, which was launched today in Lima, Perú.