LatinNews Daily - 22 April 2020

* The United Nations Economic Commission for Latin America and the Caribbean (Eclac) has released its latest GDP forecasts, according to which Brazil’s GDP is projected to contract by 5.2% in 2020, as the region as a whole suffers what is predicted to be its biggest economic recession ever, with an average 5.3% contraction. Brazil, which has been slowly recovering from a sharp recession in 2015-2016, is expected to be one of the region’s hardest-hit economies, alongside Venezuela (-18%), Argentina (-6.5%) and Mexico (-6.5%), which were already suffering from negative growth prior to the global economic crisis prompted by the coronavirus (Covid-19) pandemic. Eclac’s predictions for Brazil’s GDP growth are in line with those given last week by the World Bank (-5%) and the International Monetary Fund (-5.3%). 

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