Light at the end of the tunnel?

The latest figures suggest that the number of COVID-19 infections in the region has passed its peak – new cases are down by 35-60% compared to their July/August peaks in most of the large Latin American countries. And strains in healthcare sectors have eased. As a result, although case numbers are still high, authorities have felt confident enough to lift restrictions – Colombia and Chile did so last month and Peru is set to follow suit in October – giving the region’s economic recovery a boost. The key exception is Argentina, where cases remain very high and containment measures look set to be extended. This is one reason why the country will see one of the largest falls in GDP of any EM this year.