U.N. cuts 2015 Latin America growth forecast to 1 percent

The revision reflected a global backdrop of economic activity below that expected at the end of 2014, the Santiago-based Economic Commission for Latin America and the Caribbean (ECLAC) said on Tuesday.

"To lower world growth is added greater international financial volatility as a product of a very expansive monetary policy in Europe and Japan, at the same time as a rise in interest rates is expected in the United States," it said.

The IMF said in a study on Tuesday that the world's growth potential took a big hit after the 2007-2009 financial crisis and is likely to lag for years.

ECLAC said the end of the commodities "super-cycle" has also had a negative impact on the region, which largely relies on exports of products such as soy, oil and copper.

The economy of regional powerhouse Brazil will contract 0.9 percent, down from a former forecast of 1.3 percent growth, while Venezuela will contract 3.5 percent, and Argentina will have zero growth, according to the ECLAC figures.

Mexico is a relative bright spot, with growth of 3.0 percent predicted.

For a breakdown with all the projections, see http://bit.ly/1DfSky7.

(Reporting by Rosalba O'Brien; Editing by Ted Botha)