|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Venezuela (Click here for more Venezuela news)

IMF Says Venezuela’s Economic Activity to Drop 25%

CARACAS – Venezuela’s economic activity is forecast to drop 25% in 2020 due mainly to the COVID-19 pandemic, said the International Monetary Fund (IMF) on Tuesday without further elaboration.

Yet, Venezuela is not alone in taking the hardest hit as it is followed by Peru with 13.9% in the aftermath of the outbreak, the organization said.

It is worth noting that the IMF improved its outlook for Latin America and the Caribbean by forecasting a drop of 8.1% in the region, down 1.3 points from its previous forecast in June.

However, the region will be the most heavily impacted by the economic effects of the sanitary crisis, since many countries will be “severely affected when facing deep recessions,” the Fund said in its Global Economic Outlook report.

Brazil and Mexico, the region’s largest economies, will see a drop of 5.8% and 9%, respectively, this year but are forecast to grow back again by 2.8% and 3.5% in 2021. Argentina, looking to renegotiate a $44 billion loan with the IMF after the devaluation of the peso currency, will also experience a decline (11.8%) in 2020 and a rebound next year (4.9%).

Paraguay and Uruguay, which are the least affected countries by the pandemic, will see contractions of 4% and 4.5%, respectively.

Lastly, the Dominican Republic and Central American countries were forecast a recession of 5.9% this year followed by a rebound of 3.6% in 2021.

The IMF is holding its annual (virtual) meeting jointly with the World Bank this week, discussing the main economic challenges still ahead to exit the crisis caused by the COVID-19 pandemic.

 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2020 © All rights reserved