COVID-19 Virus Drags Millions Of Middle Class Families In Latin America Back Into Poverty
Around 40 million people have become unemployed and it is predicted that 2.7 million businesses will shut down due to lockdown.
The Coronavirus pandemic has pushed several global economies towards recession. The pandemic severely impacted social, political and economic spheres in many parts of the world. According to the latest news reports, Latin America’s economy contracted by 9% and the virus has dragged several middle-class families back into poverty. More than 52 million people will be pushed into poverty. The pandemic has indeed exposed Latin America’s economic fragility. So far, Latin America has recorded 34 per cent of global COVID-19 deaths. Reports also state that this is the worst scenario the Latin American countries have experienced since the 1900s.
According to the reports of the United Nations, more than 2.7 million businesses will shut down due to lockdown. Around 40 million people have been left unemployed. Scientists and researchers say that Latin Americans have a weak defence system towards COVID-19 virus which is causing deaths and slow recovery rate.
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