Latin America's economy will fall into its deepest recession since World War Two this year, with growth shrinking 3.8% on the back of the coronavirus pandemic, economists at Goldman Sachs said on Friday.
BRASILIA - Latin America’s economy will fall into its deepest recession since World War Two this year, with growth shrinking 3.8% on the back of the coronavirus pandemic, economists at Goldman Sachs said on Friday.
Strangled by tight restrictions on movement, travel and business across the region, Latin America’s economy is expected to “hit a wall and face a sudden stop” in the second quarter, the bank’s economists said in a research note. “Latin America’s macroeconomic and financial environment continues to deteriorate, and at a pace with no historical precedent,” they wrote.
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