The region's economies, taken together, will be the worst-performing of the developing world as they emerge from the pandemic. Paradoxically, the best way to overcome Latin America’s ongoing lost decade may be to focus on issues that go beyond economic growth.
NEW YORK – In any other year but this one, economic growth in Latin America would give the region’s governments reason to boast. The United Nations Economic Commission for Latin America and the Caribbean (ECLAC) estimates that GDP growth in 2021 will be around 6%, while the International Monetary Fund forecasts 6.3% growth. Unfortunately, even the more optimistic projection is insufficient to compensate for the -6.8% contraction the region suffered in 2020.
NEW YORK – In any other year but this one, economic growth in Latin America would give the region’s governments reason to boast. The United Nations Economic Commission for Latin America and the Caribbean (ECLAC) estimates that GDP growth in 2021 will be around 6%, while the International Monetary Fund forecasts 6.3% growth. Unfortunately, even the more optimistic projection is insufficient to compensate for the -6.8% contraction the region suffered in 2020.