Will Latin America Return to Mediocre Growth After Shocks?

Forthcoming at Policy Center for the New South

The pandemic has hit Latin America hard and its economic recovery has been slower than in other regions of the world. In addition to the legacy of greater public indebtedness, the pandemic left scars on the labor market and the human capital formation of future workers.

The COVID-19 crisis has receded in Latin America but has left a significant toll. Reported deaths from the pandemic are currently low and converging to global levels. The average excess mortality during the pandemic was among the highest in the world: double the global average and second only to Central Europe, Eastern Europe, and Central Asia, according to the latest World Bank’s Latin America and the Caribbean Economic Review (Figure 1).

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