By Santo D. Banerjee
NEW YORK (IDN) —Latin America is scrambling to contain surging COVID-19 infections while confronting near-certain recession and related impacts. But polices that prioritize poor and vulnerable people can help mitigate the region’s already extreme poverty and inequality, says a new study by the United Nations Development Programme (UNDP).
Before the pandemic, the International Monetary Fund (IMF) projected only 1.6 percent economic growth for the region in 2020, with recessions in several countries. In April, it projected a contraction of 5.2 percent, with almost every country in recession. However, tourism-dependent Caribbean nations could see GDP plunge between 5 and 10 percent—worsening the region's chronic poverty, inequality, and insecurity.