As COVID-19 Ravages Latin America, Demands for Debt Relief Resurface

A man wearing a face mask walks near a homeless person in Lima, Peru, July 14, 2020 (AP photo by Rodrigo Abd).
A man wearing a face mask walks near a homeless person in Lima, Peru, July 14, 2020 (AP photo by Rodrigo Abd).

As the coronavirus pandemic takes a terrible toll across Latin America, with over 3.5 million cases and nearly 150,000 deaths, the region is increasingly facing a financial and humanitarian emergency. Across Latin America and the Caribbean, GDP is forecast to contract by 9.3 percent in 2020, according to the International Monetary Fund—the region’s largest economic contraction on record, and far worse than the outlook for African and Asian economies. The United Nations expects the value of South America’s exports to fall by nearly a fifth this year due to shrinking international demand and weaker commodity prices. Foreign investment has also […]

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