Latin American Revenue May Experience 22 Percent Loss Due to Covid-19 Pandemic

In the most benign scenario, the health crisis will lead to a 6.6 percent decline in this year's GDP, while in the most adverse scenario, the cataclysm will border on 12 percent, according to the Bank of Spain.

RIO DE JANEIRO, BRAZIL - Being a relatively less affected continent by the coronavirus does not mean that the economic impact of the pandemic will not be severe - more so than has been projected so far.

Latin America, from Tijuana to Ushuaia, could suffer a contraction in revenue between 11 percent (in a "delimited" scenario, with eight-week confinements and more or less swift rebound in domestic demand) and 22 percent (under "prolonged confinement," around 12 weeks, and greater stress in financial conditions) in the aggregate of 2020 and 2021, according to a simulation by the Bank of Spain based on . . .

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