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LatinNews Daily - 14 October 2020
In brief: Paraguay and Uruguay to see comparatively small GDP contraction
*The International Monetary Fund (IMF) has released its latest World Economic Outlook Report (WEO), in which it projects that Paraguay will see a 4% GDP contraction in 2020, while Uruguay’s economy is predicted to contract by 4.5%. The IMF forecasts an 8.1% GDP contraction for Latin America & the Caribbean as a whole this year, with the region one of the worst hit in the world by the economic crisis resulting from the coronavirus (Covid-19) pandemic. Paraguay and Uruguay, which both saw stagnant growth in 2019, fare comparatively well; the IMF’s GDP forecast for these two countries is the strongest in South America, and amongst the strongest in the region as a whole, bar Guatemala in Central America (-2% forecast) and Haiti and Guyana in the Caribbean (-4% and 26.2%, respectively).
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- In brief: Paraguay and Uruguay to see comparatively small GDP contraction