When the pandemic began, Latin America was already on its way to another lost decade, growing at a meager 0.3 percent a year between 2014 and 2019. In the first year of Covid, the region’s economy sank 6.7 percent and barely made it back to the surface in 2021 with a 6.8-percent recovery, according to data from the World Bank and the OECD.
With the slowdown in the U.S., China, and Europe shifting from a mounting risk to a baseline case in analysts’ calculations — some of them are even talking about the risk of stagflation, a ruinous mix...
