LatAm, Caribbean GDP forecast to shrink 8.1% in 2020 – IMF

The Latin America and Caribbean (LAC) region could see an economic contraction of 8.1% in 2020 due to COVID-19 before entering a mild recovery” next year as the easing of lockdowns and adaptation by consumers and businesses help drive business activity, the International Monetary Fund (IMF) said. LAC countries expect to grow by 3.6% in 2021 as countries across the region emerge from deep recessions, but the speed and scale of the recovery will vary between states.