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IMF forecasts income setbacks for Latin America

IMF forecasts income setbacks for Latin America

Washington, May 28 (Prensa Latina) The Covid-19 pandemic will cause a 10-year setback for Latin America's income level and delays in vaccination campaigns will slow down recovery, the IMF warned.
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Alejandro Werner, director of the Western Hemisphere Department of the International Monetary Fund (IMF), said that the expectation was the combination of vaccination campaigns, the strong economic US and Chinese recoveries, the rise in raw material prices and the low international interest rates, all in favor of Latin America.

Werner assured that all these elements would help Latin America´s economic recovery to be quite positive in the second half of the year, to end 2021 with a 4.5-5% growth.

The IMF specialist considered the vaccination campaign delays began to subtract from those upward outlooks, and that may generate a less dynamic first half of the year than expected.

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