RIO DE JANEIRO, BRAZIL - It is the deepest recession in over a century, but there are also some signs of hope. The collapse of the Latin American economy this year will be tremendous, the second largest in the world, behind only that experienced by the Eurozone (8.3 percent GDP drop), although also a little less than the initial projection.
The International Monetary Fund (IMF) on Tuesday, October 13th, upgraded its projection for the drop in GDP in 2020 - the 9.4 percent decline projected in June remains equally alarming, but substantially lower, at 8.1 percent. The projection for . . .