IMF’s Georgieva highlights pandemic impact in Latin America
GDP contraction is forecast to be 8% of GDP in 2020, double the level for the global economy
Latin America and the Caribbean stand to suffer a much larger economic shock from Covid-19 than the rest of the world, the International Monetary Fund’s Kristalina Georgieva has said.
In a speech on January 17, IMF managing director Georgieva pointed out the region represents barely 8% of the world’s total population. However, it accounts for 28% of Covid-19 deaths so far. Partly as a result, the economic impact of the pandemic is forecast to reduce GDP by 8%, double the 4% predicted globally.
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