Latin America is living a stabilization of the COVID-19 pandemic and a reduction in cases and deaths in a large number of countries on the continent. But the economic crisis will take time to recover.
As EFE pointed out, despite the data that indicate a slowdown in the pandemic, the sanitary crisis leaves a trail of a long-term economic impact expected in the region, especially in Latin America. The Organisation for Economic Cooperation and Development (OECD) revised down its economic growth projection for 2020 on Wednesday for Argentina and Mexico. But in Brazil the forecast increased.
In its intermediate outlook report, which reviews the June forecasts, the agency considered that Argentina’s GDP will fall this year by 11.2%, in Mexico it will fall by 10.2% and in Brazil it will drop 6.5%.