LatinNews Regional Monitor: Brazil & Southern Cone - 14 April 2020

* The World Bank (WB) has released its latest report on Latin America and the Caribbean, entitled ‘The Economy in the Time of Covid-19 [coronavirus]’, in which it forecasts that Brazil will see a 5% contraction in its GDP this year. This is greater than the average 4.2% contraction that the WB expects for Latin America and the Caribbean (excluding Venezuela), as the region’s economy is squeezed by the impact of the social isolation measures imposed by governments to try and contain the spread of the coronavirus (which adds to earlier shocks in the region, including social unrest and a fall in global oil prices). Separately, the latest GDP forecast in the weekly survey of market analysts undertaken by Brazil’s central bank (BCB) stands at -1.96% for 2020. 

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