End of preview - This article contains approximately 137 words.
Subscribers: Log in now to read the full article
Not a Subscriber?
Choose from one of the following options
Back
LatinNews Daily - 09 June 2020
In brief: World Bank predicts significant decline for Peru’s economy
* The World Bank’s latest Global Economic Prospects report has forecast that Peru’s GDP will contract by 12% in 2020 as a result of the coronavirus (Covid-19) pademic. This is third largest predicted economic contraction in the world, behind only Belize and the Maldives, and well beyond the 7.2% average contraction predicted for Latin America. Carlos Arteta, the chief economist behind the report, attributed Peru’s particularly grave projection to the fact that the government’s comparatively high levels of emergency spending have not prevented it from experiencing one of the worst outbreaks in the region, with investment in the country also expected to fall by 12% in 2020. The report forecasts 7% GDP growth for Peru in 2021, leading Arteta to suggest that it will take at least two years for the economy to recover to pre-pandemic levels.
- ECUADOR: Protests seek to force government backpedal
- In brief: World Bank predicts significant decline for Peru’s economy
- BRAZIL: Pressure grows on gov’t over data debacle
- In brief: Investments plunge in Brazil in April
- GUYANA: Opposition claims victory in vote recount
- In brief: DR’s economic activity slumps in first four months of 2020
- MEXICO: López Obrador strikes back over police protests
- In brief: EU announces donation to help refugees in northern Mexico
- ARGENTINA: Gov’t moves to nationalise major agricultural firm
- In brief: Paraguay signs deal for bridge to Brazil