Brazil, Mexico and Peru Drag Latin America Into Worst Recession on Record

The two largest economies in the region will plummet by 8.0 and 7.5 percent, respectively. The region as a whole will fall 7.2 percent this year, and recovery wll be slow.

RIO DE JANEIRO, BRAZIL - When the World Health Organization officially classified the coronavirus outbreak as a worldwide pandemic in early March, Latin America had no sense of the storm in health (and the economy) that was yet to come.

While the number of patients was growing in Europe - with Italy as the main hotspot in the Old Continent - and the disease was reaching the United States, to those south of Rio Bravo (Rio Grande, in the US) the situation still seemed manageable.

The shock to the production grid of China - the country where the disease first emerged, a major buyer . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?