Projections by the World Trade Organization suggest that Latin America will be the hardest-hit region in the world by the coronavirus crisis. The region is expected to have a 7.5-percent GDP reduction in 2020 — while the world average sits at 4.8 percent.
Also, the 2021 rebound will be slower in Latin America than elsewhere. While the global economy is projected to grow by 4.9 percent, the region should see growth rates of only 3.8 percent.
Additionally, a second Covid-19 wave in the region could halt the recovery in 2021 altogether.