======Latin American Economic Outlook 2020: Digital transformation for building back better======
The coronavirus (Covid-19) crisis has been an exceptional, unexpected and exogenous shock to Latin America and the Caribbean (LAC), where most countries were already experiencing low or zero growth. The region confronts the crisis with structural challenges, including a vulnerable middle class, persistent inequalities, and laggard productivity. The pandemic has exacerbated these issues, leading to a sharp contraction in GDP growth and significant social and economic impacts. In response, countries have implemented monetary and fiscal measures to mitigate the effects, but further efforts are needed at both national and international levels for a sustainable recovery. Digital transformation has proven useful during the pandemic, but only for some firms and citizens. Addressing gaps in coverage, access, and use is crucial for digital transformation to play an essential role in economic recovery and to help overcome persistent challenges for more sustainable and inclusive development.  \\ 
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^  Quick Facts  ^^
|Report location:  |[[https://repositorio.cepal.org/server/api/core/bitstreams/99e09cbf-0c37-4ba5-8c91-05fa2c82870b/content|source]]   |
|Language:  |English  |
|Publisher:  |<WRAP> 
  * [[encyclopedia:oecd|Organisation for Economic Co-operation and Development]] 
  * [[encyclopedia:economic_commission_for_latin_america|Economic Commission for Latin America]]  
  * [[encyclopedia:int_un_united_nations|United Nations]] 
 </WRAP> |
|Authors:  |  |
|Geographic focus:  |Latin America And The Caribbean (lac)   |
|Page count:  |307 páginas.  |

=====Methods=====
The research method used in the report involves a combination of quantitative and qualitative analysis of socio-economic data, policy measures, and structural challenges faced by Latin America and the Caribbean (LAC) in light of the coronavirus (Covid-19) pandemic. The report examines the impact of the pandemic on economic performance, social effects, and the role of digital transformation in addressing these challenges. It includes a review of monetary and fiscal responses by governments, analysis of productivity patterns and heterogeneity, assessment of the digital ecosystem, and evaluation of infrastructure and skills necessary for digital transformation. The report also considers the implications of the crisis for future policy actions and the potential of digital technologies to foster productivity and sustainable development.  \\ 
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=====Key Insights=====
The coronavirus (Covid-19) pandemic has brought about the worst peace-time recession in a century, with profound socio-economic consequences in Latin America and the Caribbean (LAC). The region, already facing structural weaknesses such as low productivity, a vulnerable middle class, and persistent inequalities, has seen these issues exacerbated by the crisis. The pandemic has led to a sharp decline in GDP growth, with projections indicating a contraction of more than 9% in 2020. The crisis has disproportionately affected the most vulnerable groups, with significant increases in poverty and inequality expected. Governments have responded with supportive monetary and fiscal measures, but interventions are constrained by limited fiscal space. Coordinated global action is necessary to rebuild economies and promote inclusion. The digital transformation has been critical in mitigating some impacts of the pandemic, but digital divides persist. Addressing these divides is essential for the digital transformation to benefit all and support a sustainable recovery from the current crisis.  \\ 
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=====Additional Viewpoints=====
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<span #categories_box> Categories:  {{tag>English_publication_language}} |  {{tag>Latin_America_And_The_Caribbean_(lac)_geographic_scope}} |  {{tag>coronavirus_pandemic}} |  {{tag>digital_ecosystem}} |  {{tag>digital_transformation}} |  {{tag>economic_impact}} |  {{tag>fiscal_policy}} |  {{tag>inequality}} |  {{tag>infrastructure}} |  {{tag>monetary_policy}} |  {{tag>policy_recommendations}} |  {{tag>poverty}} |  {{tag>productivity}} |  {{tag>skills}} |  {{tag>social_effects}}   </span>  


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