(World Bank, 2020)
Latin America and Caribbean’s Winding Road to Recovery
22 Aug 2021
Latin America and Caribbean economies managed to bounce back from COVID-19’s initial economic devastation earlier in 2020. But the pandemic’s resurgence towards the end of the year threatens to thwart an uneven recovery and add to the steep social and human costs.
After the sharp contraction in the second quarter of last year, the brisk recovery in the third quarter exceeded expectations in some larger economies, like Brazil, Peru and Argentina. Manufacturing recovered faster than services. Net exports have recovered to pre-crisis levels while consumption and investment are lagging.