MXF - Outlook For Latin America And The Caribbean: An Intensifying Pandemic
By Alejandro Werner, Director of the Western Hemisphere Department of the International Monetary Fund
Latin America and the Caribbean have become the new COVID-19 global epicenter. The human cost has been tragic, with over 100,000 lives lost. The economic toll has also been steep. The World Economic Outlook Update now estimates the region to shrink by 9.4 percent in 2020, four percentage points worse than the April projection and the worst recession on record. A mild recovery to +3.7 percent is projected in 2021.
Latin American countries should be cautious in reopening their economies and