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rdf:type	schema:NewsArticle
schema:articleBody	Latin America is heading into "a deep recession" in 2020, with an expected drop in the region's GDP of 1.8 to 4.0 percent due to the coronavirus pandemic, the UN economic commission for the region said Friday. "We are at the beginning of a profound recession. We're faced with the largest fall in growth that the region has had," said Alicia Barcena, executive secretary of the UN Economic Commission for Latin America and the Caribbean (CEPAL). Latin America was already struggling economically, with feeble growth of just 0.1 percent in 2019. As with other parts of the world, the region's main stock markets have suffered drastic losses as the virus crisis has escalated, and several currencies have plunged in value against the US dollar. A reduction in economic activity due to lockdowns imposed to combat the spread of the virus, a drop in the value of raw materials and the blow to tourism have all contributed to the bleak outlook. Barcena said the best-case projection takes into account only the drop in economic activity with China, the region's largest trading partner. But if a drop in trade with the United States and European Union is also factored into the calculation, then a 3-4 percent contraction is expected. pa/mr/bc/sst
schema:headline	UN predicts 'deep recession' in LatAm due to virus
schema:mentions	Latin America Caribbean Recession United States dollar Gross domestic product United Nations Pandemic Virus United States China United Nations Economic Commission for Latin America and the Caribbean Alicia Gallagher Supersonic transport Microsoft Outlook
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-04-03 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	70 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

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