About the product
The coronavirus disease (COVID-19) pandemic is the worst global crisis since the Second World War. It has had devastating economic and social effects across the globe, with greater intensity in developing countries, that will likely extend into the medium and long term. Latin America and the Caribbean, one of the most affected regions in the developing world, registered in 2020 the worst economic contraction on record (-6.8%), which has caused a significant increase in the unemployment rate (8.1% and 10.7% in 2019 and 2020, respectively, representing 44 million people) and poverty levels (the number of people living in poverty rose from 185.5 in 2019 to 209 million in 2020). Moreover, the sharp decline in investment (-20% in real terms) will severely hamper future capital accumulation, as well as the ability of the region’s economies to generate growth and employment and recover.