Since the recognition of the COVID-19 outbreak in December 2019, several measures of social isolation, suspension of activities and productive unemployment have been implemented. The impacts it has generated have put the world economy in a perspective of economic and social crisis even more complicated than that expected at the end of 2019.
The scenario for Latin America prior to the outbreak of COVID-19 was very complicated. ECLAC recognized in December 2019 that the region was showing a generalized and synchronized economic slowdown.
The virus, in addition to representing a serious global health crisis in itself, had exposed the deep structural limits of the world economy and revealed the vulnerabilities of the accumulation model based on the free market and global production chains.