IDB president warns of a looming COVID debt crisis in Latin America, but also highlights opportunities

Actions taken throughout the region to control not only the pandemic, but also “the spread of poverty [and] the spread of unemployment,” have “increased debt to households, to governments, and to businesses,” Moreno explained, while the restrictions of movement and commerce imposed to curb the spread of the virus will make it more difficult for Latin American economies to cope with this debt once the initial phase of the crisis is over.