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Publication(World Bank, Washington, DC, 2021-04) Mejía-Mantilla, Carolina ; Olivieri, Sergio ; Rivadeneira, Ana ; Lara Ibarra, Gabriel ; Romero, JavierLatin American and the Caribbean is one of the regions in the world most affected by the COVID-19 pandemic, and the welfare impacts for households have been severe. At the macroeconomic level, the World Bank estimates a contraction of 6.9 percent of the region’s GDP in 2020, due to pandemic-control measures and the deceleration of the global economy (World Bank, 2021). Regional export prices significantly dropped in the first semester of 2020 (5.2 percent) (Inter-American Development Bank, 2020), and although they began to recover in the second half of the year, the volume of goods-exports dropped by 8 points by the third quarter of 2020 (World Bank, 2021).
Publication(World Bank, Washington, DC, 2020-07) Ballon, Paola ; Lara Ibarra, Gabriel ; Olivieri, Sergio ; Rivadeneira, AnaCoronavirus disease 2019 (COVID-19) continues to preoccupy the population in Latin America and Caribbean (LAC), as do the pandemic’s economic ramifications. The willingness and or ability of people to follow the recommendation to stay at home began to noticeably tail off by the beginning of July. A gradual return to work is observed across all countries, although the situation remains less dynamic than before COVID. Among people re-engaged in the labor market, the majority are coming back to their pre-COVID jobs. Food insecurity has receded but continues to be a major issue for many families in the region. COVID has served to exacerbate existing disparities across the region with respect to medical care. Education continued in most cases thanks to distance learning. On most countries, over 90 percent of children were able to participate in distance learning activities during second wave.