The gains from what is expected to be a measure of economic growth for Latin America and the Caribbean this year will not be sufficient to compensate for the crippling effects of the economic crisis inflicted on countries of the region by the COVID-19 pandemic, a new report from the Economic Commission for Latin America & the Caribbean (ECLAC) is warning.
Titled “Recovery Paradox in Latin America and the Caribbean”, the report notes that while the average regional growth estimate for this year is likely to be in the vicinity of 5.2 per cent, a circumstance that “reflects a rebound from the deep contraction of six per cent” last year, it “will not manage to ensure sustained growth” on account of what it says has been “the social impacts of the crisis and the structural problems in the region [which] have deepened and will continue to do so during the recovery.”
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