The Economic Commission for Latin America and the Caribbean (ECLAC) says foreign direct investment (FDI) in the region fell significantly in 2019 and is expected to plunge even farther this year.
In its annual study titled, "Foreign Direct Investment in Latin America and the Caribbean 2020," ECLAC said the region received over US$160 billion in FDI in 2019, at least 7.8 per cent less than in 2018.
ECLAC forecast that the decline will intensify sharply in 2020, when inflows are expected to drop by between 45 and 55 per cent as a result of the COVID-19 pandemic.
Worldwide, ECLAC said the amount of FDI is seen shrinking by 40 per cent in 2020 and by between five and 10 per cent in 2021.
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