United Nation: Latin America and the Caribbean have become a hot spot for the COVID-19 pandemic, with several countries now having one of the highest per capita infection rates and absolute number of cases in the world, U.N. Secretary-General Antonio Guterres said on Thursday. The U.N. chief said in a video and briefing report that a 9.1 per cent contraction in GDP is expected this year in the region, which would be the largest in a century.
COVID-19 represents a massive health, social and economic shock with an immense human toll for the countries of Latin America and the Caribbean, the report said. It is expected to result in the deepest recession in living memory.
According to the report, unemployment in the region is expected to rise to 13.5 per cent from 8.1 per cent last year, affecting more than 44 million people, compared to over 18 million in 2019.
The poverty rate is expected to rise to 37.2 per cent from 30.2 per cent, meaning 230 million people will be affected compared to 185 million last year, it said. (AP)
