Coronavirus To Ravage Economy Of Latin America, Output To Contract 9.1%: U.N. Agency

• The coronavirus pandemic will swell the ranks of the poor and unemployed in Latin America and the Caribbean and drag the region´s economic output down by 9.1%.
• The Economic Commission for Latin America and the Caribbean (ECLAC) estimates that an additional 18 million people will find themselves out of work relative to 2019 levels, as lockdown measures continue to hammer already frail economies.
• The region´s poor will swell to 230.9 million in 2020, up from 185.5 million in 2019, and account for 37.3% of Latin America and the Caribbean´s population. Argentina, Brazil, Ecuador, Mexico, and Peru will see the largest spikes, the agency said.
• Slumping growth globally, alongside a downturn in consumption and investment by top trade partners China and the United States, will hit demand for the region´s abundant raw materials, driving exports down by 23%.

(Source: Reuters)