LatinNews Daily - 20 July 2020

* Colombia’s national statistics institute (Dane) has reported that the country’s economy contracted by 16.6% year-on-year in May, due to the impact of the coronavirus (Covid-19) pandemic. Dane noted that this represented an improvement on the 20.5% year-on-year decline recorded in April, reflecting the start of economic reactivation efforts in May, but nonetheless acknowledged that recovery will be a slow process, predicting a contraction of 5.5% in 2020 as a whole, well below the 3.7% growth forecast at the start of the year.

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