Analysis: COVID-19 Could Cause Over 2.7 Million SMEs in Latin America to Close

The Boston Consulting Group warns that the virus threatens to destroy 15 years of social and economic achievements by SMEs, as Latin America will see the largest percentage decline in real GDP in 2020 of all developing regions.

RIO DE JANEIRO, BRAZIL - At least 2.7 million businesses are expected to close in Latin America - most of them small and medium-size businesses (SMEs) - as a result of the economic shock caused by the COVID-19 pandemic, the US consulting firm Boston Consulting Group (BCG) said in a report on Friday, December 11th.

The traffic flows in the streets of Latin American cities that make them vibrate daily are largely due to the thousands of small and medium-sized businesses - restaurants, theaters, neighborhood stores - that this year were forced to pull down their blinds because of quarantines and . . .

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