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 New special report

Latin America and the Caribbean and the COVID-19 pandemic
Economic and social effects

APRIL 2020

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The global economy has been hit by a health, human and economic crisis without precedent in the last century and that is continually evolving. In the face of the coronavirus disease 2019 (COVID-19) pandemic, economies have shut down and are paralyzed, and societies are in quarantine to varying degrees, measures that are only comparable to those in war situations. While it is not known how long the crisis will last or what form the recovery might take, the faster and more robust the response, the fewer negative effects there will be. Some of the traditional market mechanisms may not be sufficient to cope with the crisis owing to the interruption of productive activities and the resulting contraction in demand. 


This Special Report is the first in a series by the Economic Commission for Latin America and the Caribbean (ECLAC) on the evolution and impacts of the COVID-19 pandemic in Latin America and the Caribbean, and will update the economic and social analysis as the relevant information becomes available.

Diagram 1 |  Economic impacts of the COVID-19 pandemic in Latin America and the Caribbean

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Source: Economic Commission for Latin America and the Caribbean (ECLAC).

 

Figure 1 | Confirmed cases of COVID-19 worldwide and global growth forecast
(Number of cases and percentages)

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Source: Bloomberg Economics.

 

 

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Economic Commission for Latin America and the Caribbean (ECLAC)

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