In its Preliminary Overview of the Economies of the region, ECLAC forecasts an average contraction of -7.7% for 2020 – the largest in 120 years – and a rebound of 3.7% in 2021.
Authorities from more than 25 countries met with ECLAC and other multilateral organizations at the Caribbean Development Roundtable and the Caribbean Development and Cooperation Committee.
A new report by ECLAC warns that the crisis unleashed by the coronavirus illness could lead to a contraction of at least -1.8% in Latin America and the Caribbean’s GDP in 2020.
ECLAC’s Executive Secretary, Alicia Bárcena, warned that the region’s economies will suffer the pandemic’s negative consequences via numerous channels.