In a new report, ECLAC raised its regional growth estimate for this year to 5.2% based on an economic rebound but that does not ensure sustained expansion. It warns that the social impacts of the crisis are worsening and will continue during the recovery.
New joint report states that economic recovery will only be possible by flattening the curve of contagion. It proposes three phases to control the pandemic, reactivate the economy with protection, and rebuild in an inclusive and sustainable way.
ECLAC updated its growth projections for Latin American and Caribbean countries today. It underscores that both the external and domestic shocks have been stronger than what was foreseen last April, which led to a downward revision of the figures.
In a joint virtual seminar with the Federal Senate of Brazil, the commission’s Executive Secretary, Alicia Bárcena, emphasized that a new development model will be needed after the COVID-19 pandemic.
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.
The organization’s Executive Secretary, Alicia Bárcena, participated in New York in a meeting of the United Nations Development Group for Latin America and the Caribbean.