Until recently, it was one of the brightest, most promising trends in Latin America, and one of the strongest arguments for optimism about its future. But tragically, the fight against corruption, which had made determined strides in its drive to uproot graft, influence peddling and venal misuse of resources, has not only stalled—it has shifted into reverse. The backsliding is now converging with the scourge of the coronavirus, adding to the many challenges that Latin Americans face, and raising the barriers to recovery after the pandemic ends. Latin America is not alone in hitting a wall in its attempts to […]
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As the coronavirus pandemic takes a terrible toll across Latin America, with over 3.5 million cases and nearly 150,000 deaths, the region is increasingly facing a financial and humanitarian emergency. Across Latin America and the Caribbean, GDP is forecast to contract by 9.3 percent in 2020, according to the International Monetary Fund—the region’s largest economic contraction on record, and far worse than the outlook for African and Asian economies. The United Nations expects the value of South America’s exports to fall by nearly a fifth this year due to shrinking international demand and weaker commodity prices. Foreign investment has also […]