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About: http://data.cimple.eu/news-article/b9a45244803ec79f1776eee6b4e5a84d729d2b07b9612e916b8900cc Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	Latin America is set for its worst ever recession with a fall in GDP of 5.3 percent in 2020 due to the coronavirus pandemic, a UN body said on Tuesday. The United Nations Economic Commission for Latin America and the Caribbean (CEPAL) said the last time the region had seen "a contraction of a comparable magnitude, you need to go back to the Great Depression of 1930 (-5%), or even further to 1914 (-4.9%)" and the start of World War I. Before the coronavirus struck, the region had experienced seven years of slow growth with an average of 0.4 percent from 2014 to 2019. According to CEPAL, in the entire region only the Dominican Republic's economy will remain stable in 2020, all the others will fall. Venezuela's is expected to be the worst hit economy with an 18 percent contraction, followed by Argentina, Mexico and Ecuador, with 6.5 percent. South America, due to fall 5.2 percent, will be worse hit than Central America or the Caribbean "due to several countries being badly affected by the fall in China's activity, which is an important export market." Central America, which will decrease by 2.3 percent, is due to suffer from "a fall in tourism and the reduction of activity with the United States, its main commercial partner and source of remittances." The Caribbean will also face a drop in tourism and 2.5 percent fall in its GDP. Poverty in Latin America will rise from 30.3 percent to 34.7 percent, an increase of 29 million people, in 2020, while unemployment will jump from 8.1 percent to 11.5 percent, leaving 37.7 million people out of work, CEPAL said. Extreme poverty is expected to surge from 11 percent to 13.5 percent, or 16 million people. "G-20 leaders need to support multilateral organizations to lend at favorable interest rates to heavily indebted countries by postponing or canceling" the debt, said CEPAL's Executive Secretary Alicia Barcena, "otherwise it will be impossible to pay." "Exceptional measures are required to deal with an unprecedented crisis. There will be no progress without international cooperation and solidarity." pa/dga/mr/bc/bgs
schema:headline	Pandemic to provoke worst ever recession in LatAm
schema:mentions	Latin America Dominican Republic South America Central America Great Depression Professional wrestling match types World War I Caribbean Remittance Recession G20 Ecuador Poverty Gross domestic product Venezuela United Nations Mexico Argentina Pandemic United States China Severe acute respiratory syndrome coronavirus 2 Hurricane Alicia United Nations Economic Commission for Latin America and the Caribbean
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-04-21 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	57 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

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