As the novel coronavirus disease (COVID-19) continues to spread across the globe, it has so far had a large negative economic impact with further disruptions to come unless it is brought completely under control.
This was stated by director of the Pan American Health Organisation, Dr Carissa Etienne, during a virtual press conference on Tuesday. The director stated that the disruptions caused by COVID-19 have so far “shaken our economies to the core,” as she noted that the Economic Commission for Latin America and the Caribbean (ECLAC) estimates that the region will contract by 5.3% in 2020 which she said is the biggest drop in over 100 years.