Economics
In Perennial Economic Crisis, Argentina Faces Worst Year Yet
- Worst-case scenario sees Argentina shrinking a record 13%
- GDP data Tuesday to show economy returned to 2010 levels
Photographer: Ronaldo Schemdt/AFP via Getty Images
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Argentina was facing a third year of recession in 2020 even before the coronavirus hit. Now with the pandemic’s economic shock, some analysts foresee a record contraction in the crisis-prone country.
One of the most pessimistic estimates is from Marcos Buscaglia, co-founder of Buenos Aires-based consulting firm Alberdi Partners and former chief Latin America economist at Bank of America Corp, who sees activity shrinking 13%.