ECLAC warns of the closure of 2.7 million companies in Latin America by Covid-19

The stoppage of productive activities due to the coronavirus pandemic will cause the closure of 2.7 million formal businesses in Latin America, most of them micro-businesses, which will imply the destruction of 8.5 million jobs, ECLAC said Thursday. COVID-19 will cause the worst recession in history in Latin America. The contraction of regional GDP expects to reach 5.3% in 2020, and the poverty rate will grow up from 30.3% to 34.7% of the population.

Source: Los Tiempos