World Bank – Argentine economy will have the biggest drop in all of Latin America

The world Bank (WB) estimated that the Argentine economy will suffer this year the highest contraction in Latin America, 12.3%, for “the longest quarantine in the world” applied to the pandemic, but projected that in 2021 it will have a reactivation.

The estimate appears in the report of the annual meeting of the World Bank and the IMF, which estimates that this year’s annual decline in Gross Product will be offset by a growth of 5.5% in the next year and 1.9% in 2022, therefore, it will not be able to recover the level of December 2019.

The contraction would almost double the previous one of the World Bank, which had calculated last June that it would be 7.3% this year. The entity projected that, due to the pandemic, GDP in the region is expected to fall 7.9% this year and growth of 4% is expected next year.

The World Bank predicted a 5.4% fall for Brazil, 6.3% in Chile, 7.3% in Bolivia , 7.2% in Colombia, 11% in Ecuador, 12 in Peru, 4% in Uruguay, and 10% in Mexico .

The World Bank’s chief economist for Latin America and the Caribbean, Martín Rama, affirmed that Argentina “comes from two years of decline and from all the uncertainty about what would happen to the debt,” after highlighting the agreement with creditors.

More

PSG 4–0 Inter Miami: Messi reunion in Atlanta

Paris Saint-Germain needed just six minutes to make the...

Trump’s Gaza gamble runs into empty seats, grim reality

Tehran — Donald Trump is betting that momentum and...

Washington punishes Colombia’s petro over UN street speech

Bogotá — The United States moved to revoke the...
Show your support if you like our work.

Author

News Room
News Room
The Eastern Herald’s Editorial Board validates, writes, and publishes the stories under this byline. That includes editorials, news stories, letters to the editor, and multimedia features on easternherald.com.

Comments

Editor's Picks

Trending Stories

Syria elections 2025: Vote counting before vote casting

Damascus. Syria elections 2025 arrived without a public ballot....

Daisy Drew viral videos: What fuels leaked searches online

Daisy Drew viral videos have become the spark behind...

Laurita Fernandez poses totally nude on her back in her Instagram

Laurita Fernandez is one of the most talented dancers...

Jenna Ortega Owns Paris, Ann Demeulemeester Goes Viral

Paris: The room at the Réfectoire des Cordeliers filled...

Shutdown day 6 shows a government that won’t govern

Washington — The sixth day of the federal shutdown...