Pandemic drives Latin America’s debt up to 79.3% of GDP

The Covid-19 pandemic has amplified the financial needs of Latin American countries to cope with the health emergency. It has generated an increase in the region’s debt levels from 68.9% to 79.3% of Gross Domestic Product (GDP) between 2019 and 2020, making Latin America and the Caribbean the most indebted area in the developing world. A new report by the Economic Commission for Latin America and the Caribbean (ECLAC) reveals that the health contingency has magnified Latin America’s structural gaps and put its resilience at risk.

Source: El Deber