COVID-19 creates “worst crisis in century” for Caribbean, Latin America

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[COVID-19\Latin America and the Caribbean]
Alicia Barcena: “GDP is forecast to contract by 9.1%, poverty will increase 37.3% to reach 231 million people, some 98 million people will live in extreme poverty and run the risk of suffering hunger..."
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Latin America and the Caribbean have been particularly badly hit by the pandemic, with trade expected to contract by almost a quarter this year.

While ocean carriers have seen a strong recovery in the main Asia-Europe and transpacific tradelanes, the Latin American and Caribbean markets continue to suffer significantly from the impact of Covid-19.

During a virtual session of the Inter-Parliamentary Monitoring Commission of the Pacific Alliance Monday, executive secretary of the Economic Commission for Latin America and the Caribbean (ECLAC) Alicia Barcena said that, faced with such uncertainty, nations must “deepen cooperation and bolster regional agreements.”

The United Nations official said the Latin America and Caribbean bloc was “facing the worst crisis in a century.”

“GDP is forecast to contract by 9.1%, poverty will increase 37.3% to reach 231 million people, some 98 million people will live in extreme poverty and run the risk of suffering hunger, because they will not be able to cover their basic food intake needs, and unemployment will rise to around 13,5%,” warned Ms. Barcena.

Read the rest of this The Load Star story here: https://theloadstar.com/pandemic-creates-worst-crisis-in-a-century-for-l...

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