IMF slashes Latin America forecasts

IMF slashes Latin America forecasts
Image: Frank11/Shutterstock

The International Monetary Fund (IMF) has released new GDP forecasts, lowering projections for Latin America and the Caribbean. According to the fund, the region’s economy should shrink by 9.4 percent — previously, projections tipped a 5.2-percent drop.

Brazil and Mexico, the region’s two largest economies, are the causes for the lower forecasts. For Brazil, the IMF worsened GDP projections from -5.3 to -9.1 percent; for Mexico, it went from -6.6 to -10.5 percent. 

In what is by no means a coincidence, both countries have recorded the highest coronavirus numbers for both cases and deaths in the region. However, it is worth pointing out, however, that the two countries account for 52 percent of the Latin American population.

While Brazil has the highest death count with 52,771 victims of Covid-19, Mexico has confirmed 23,377 as of today.

IMF slashes Latin America forecasts

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