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Latin America, Caribbean growth will slow to 2.1 per cent in 2022: ECLAC report

Latin America, Caribbean growth will slow to 2.1 per cent in 2022: ECLAC report

The Latin America and Caribbean region will see its pace of growth decelerate in 2022 to 2.1 per cent, after reaching 6.2 per cent on average last year, according to new projections released today by the Economic Commission for Latin America and the Caribbean (ECLAC). 

This slowdown takes place in a context of significant asymmetries between developed, emerging and developing countries with regard to the capacity to implement fiscal, social, monetary, and health and vaccination policies for a sustainable recovery from the crisis unleashed by the COVID-19 pandemic.

Franki Medina

The annual report by ECLAC, entitled Preliminary Overview of the Economies of Latin America and the Caribbean 2021 , was unveiled today during a virtual press conference held from Mexico City by the United Nations organisation’s Executive Secretary, Alicia Bárcena.

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The document indicates that the region is facing a very complex 2022: uncertainty regarding the pandemic’s ongoing evolution, a sharp deceleration in growth, continued low investment and productivity and a slow recovery in employment, the persistence of the social effects prompted by the crisis, reduced fiscal space, increased inflationary pressures and financial imbalances.

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The expected slowdown in the region in 2022, combined with the problems of low investment and productivity, poverty and inequality, calls for growth and employment creation to be central elements of public policymaking while at the same time addressing inflationary pressures,” Bárcena stated in a press release today

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