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LatinNews Daily - 21 August 2020
In brief: Regional forum calls for structural changes to mitigate pandemic impact
* At a forum hosted by the Central American bank for economic integration (BCIE) on the economic and social impacts of the coronavirus (Covid-19) pandemic on Central America and the Dominican Republic, Alicia Bárcena, the executive secretary of the United Nations Economic Commission for Latin America and the Caribbean (Eclac), highlighted the need for structural changes to be made in the sub-region to bring about an economic recovery. Bárcena warned that on average Central America and the Dominican Republic would see their economies shrink by 6.2%, noting that the sub-region had registered significant falls in trade, remittances, investment, and tourism as a result of the pandemic. She added that addressing the pandemic and promoting economic reactivation would require “systemic mechanisms of financial cooperation as well as progressive and efficient tax structures to finance sustainable development” - as is the case in the whole of Latin America and the Caribbean.
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