“Countries in Latin America and the Caribbean may face no choice but to live with the virus, perhaps for several more years”: World Bank

“Countries started the fight against the pandemic in the spirit of a sprint. But after nine months since the first Covid-19 outbreaks they seem to be gradually drifting into a marathon,” it is the diagnosis that the World Bank makes on its Latin America and the Caribbean Semi-Annual report. Broad-based social transfers may be needed for the time being. However, going forward governments in the region may need to consider paths to fiscal consolidation, the report suggests. This implies focusing spending on protecting the most vulnerable and in the creation of new jobs, service delivery, and infrastructure. Key takeaways The positive side International developments have been less unfavorable than could have been anticipated six months ago. Global trade in goods […]