Economic growth in Latin America and the Caribbean is likely to slow this year and next, while the region’s banking and financial systems are at a growing risk, in spite of the “muted” impact of the global credit crisis so far, according to an IMF report on Friday.

“The region’s banking systems have so far remained largely immune to the financial stresses in the United States,” the report said, citing reliance on local deposits and limited exposure to structured financial products in the region’s financial markets.