We inform you that on this website we use our own and third-party cookies to collect information about its use, improve our services and, where appropriate, display advertising by analyzing your browsing habits. You can expressly accept its use by pressing the "ACCEPT" button or configure and select the cookies you want to accept or reject in the settings. You can also get more information about our cookie policy here.

The global fashion business journal

Sep 29, 20207:04am

Latin America slows down: ends 2020 with slowest growth in forty years

La Comisión Económica para América Latina y el Caribe (Cepal), estimates that the region will grow only by 0.1% on average this year.


Dec 23, 2019 — 4:00pm
mds
Save

Latin America slows down: reaches in 2020 slowest growth in forty years

 

 

Latin America also slows down. La Comisión Económica para América Latina y el Caribe (Cepal) estimates that the region will grow only by 0.1% on average during this year, the period of slowest growth in forty years.

 

In the Balance Preliminar de las Economías de América Latina y el Caribe 2019, the organization reveals that the economies of the region will register an advance of 1.3% in 2020. “The lower dynamism of domestic demand has been accompanied by a decline aggregate external demand and more fragile international financial markets,” stated the organization.

 

Also, Cepal highlights that the political turbulence that regions such as Chile and Bolivia have suffered has not contributed to improving the situation. “To this scenario are added the growing social demands and pressures to reduce inequality and increase social inclusion that have detonated with unusual intensity in some countries.”

 

 

 

 

The United Nations (UN) emphasizes that the global economic environment will not help because of its “low dynamism and its growing vulnerability.” However, Cepal explains that, unlike previous times, “most countries in the region today have historically low levels of inflation and relatively high international reserves.”

 

In addition, the organization points out that “economies continue to have access to financial markets and international interest rates are at historically low levels.” According to Cepal experts, these factors favor the ability to implement macroeconomic policies to stimulate demand.

 

The price of raw materials, which in 2019 fell by 5%, exports, or risks in labor issues are some of the main problems that the economies of the region will have to faceduring the next year, according to Cepal.

Advertising
Participation rules

info@themds.com

 

Validation policy for comments: 

 
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
 
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment
...