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IMF forecasts 9.4% economic contraction in Latin America, Caribbean for 2020

The International Monetary Fund is forecasting a nearly double-digit recession for Latin America and the Caribbean in 2020 – a contraction of 9.4% – as the region is dragged down by its two largest economies, which continue to suffer from the coronavirus.
 
The updated outlook for the region, released Wednesday, is down sharply from the 5.2% recession forecast in April, which already would have been the worst performance since at least 1980.
 
The multilateral lending agency said in Latin America, most countries are still struggling to contain infections.


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