Latin America to Experience ‘Most Brutal Recession in History’, Alerts ECLAC

The UN Commission warns that the economy will not be reactivated unless the coronavirus is under control and proposes emergency basic income as one of the solutions to build a welfare state in the region.

RIO DE JANEIRO, BRAZIL - The economic reactivation of Latin America will have to wait. A new report from the Economic Commission for Latin America and the Caribbean (ECLAC) and the Pan American Health Organization (PAHO) alerts that unless the Covid-19 contagion curve is flattened as soon as possible, the consequences will be devastating.

The region counts 4.5 million positive cases of the disease and almost 190,000 deaths, in addition to issues such as an over 50 percent rate of labor informality, unemployment, poverty, inequality, and poor healthcare systems. In a similar scenario, any chance of a rebound . . .

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