NEW YORK (Reuters) - The International Monetary Fund is concerned that social unrest will make a comeback in “lots of countries” across Latin America once the COVID-19 pandemic recedes, a top IMF official said on Thursday.
Economies across Latin America and the Caribbean are forecast to contract as a group by 8.1% this year, with an uneven 2021 bounce at just 3.6%, and most countries are not seen returning to pre-COVID output levels until 2023, the Fund said earlier on Thursday.
“Some of the determinants of social unease are going to worsen and that generates our concern for the region, for lots of countries in the region,” Alejandro Werner, the Fund’s director for the Western Hemisphere, said in an interview with Reuters.
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WNU Editor: The IMF's concerns are justified. Predictions are calling for an almost 10% drop in the GDP this year .... Latin American GDP to fall by 8.1% in 2020 (ICIS). And if the pandemic continues, expect an even bigger drop next year. The IMF report is here .... Pandemic Persistence Clouds Latin America and Caribbean Recovery (IMF).
1 comment:
Social unrest in Latin America! Never heard of such a thing!
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