The Latin American economy could grow by 3% or more this year according to the Inter American Development Bank.

The president of the bank, Luis Alberto Moreno, at a meeting of IDB Central American and Dominican Republic governors in El Salvador, said he expected to witness growth in the region on the back of the recovery of the global economy.

Saying he was hopeful growth would go above 3%, Mr Moreno said the figure was in line with the world’s main economies, which would not see significant growth rates this year or in 2011.

The IDB president praised the members at the closing ceremony of the conference for increasing the working capital of the organisation, while dealing with issues related to social aspects.

IDB governors and regional managers from Belize, Costa Rica, El Salvador, Guatemala, Nicaragua, Panama and Dominica Republic attended the conference.