IMF sees ‘lost decade’ of no growth in Latin America due to pandemic

(C) Reuters. IMF logo is seen outside the headquarters building in Washington

WASHINGTON (Reuters) – The International Monetary Fund on Thursday said the economic fallout of the coronavirus pandemic, combined with other problems in recent years, meant Latin America and the Caribbean would likely see “no growth” in the decade from 2015 to 2025.

Alejandro Werner, who heads the IMF’s Western Hemisphere department, said the global lender was racing to process 16 requests for emergency assistance, about half of which were from Caribbean nations devastated by a halt in tourism.

Other countries had asked about traditional IMF programs or extensions of existing financing arrangements, he said.