2020'S first rebound was from foreign trade

In Ecuador, Mexico, and Paraguay, a small stimulus package accompanied increased economic activity, due to the recovery of external demand.

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Foto: proceso.hn
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The world economy came to a halt during the second quarter of 2020 when different governments imposed various productive shutdown and social distancing measures around the world. According to IMF estimates, it brought aggregate demand and supply to a halt, causing the GDP of the European Union to fall by 6.12%, the G7 by 2.10%, and Latin America by 7.01%. In response to the COVID-19 crisis, the fiscal and monetary stimulus expanded in almost all Latin American economies to boost recovery, although not all countries responded immediately.



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