The Economyin the Timeof Covid-19

World Bank – April 12, 2020

For the last five years the economic performance of Latin America and the Caribbean has been disappointing, with growth rates being barely positive on average. Supporting the trends in social spending made possible by unusually high commodity prices was becoming increasingly difficult, which confronted many countries with painful adjustments. Over 2019, social unrest erupted across the region, reflecting a widening gap between popular expectations and economic and social realities. And then, in early 2020, international oil prices collapsed, which is a boon for several countries in the region but creates enormous stress for oil exporters. This is when the Covid-19 outbreak started.

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