Coronavirus Risks Critical Blow to Argentina’s Ailing Economy

Despite one of the world’s longest and strictest lockdowns, the death toll in Argentina keeps rising. The increase in daily deaths from Covid-19 is the sixth highest in the world. More than 10,000 people have died so far. Argentina’s rate of about 234 deaths per million is still lower than its big neighbours — in Brazil and Chile, that rate exceeds 600 deaths per million — but the economic consequences of its lockdown have been especially dire, the Financial Times reported. Andrés Borenstein, an economist at Econviews, a consultancy in Buenos Aires, said Argentina’s economy had been hit twice as hard as its neighbours. The gross domestic products of Brazil and Chile are forecast to decline between 5 per cent and 6 per cent this year, while Argentina’s is expected to shrink as much as 12 per cent, according to a central bank survey. Read more