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Bloomberg’s economics desk has put out a useful Twitter thread summarising an informative article on the economic impact of the pandemic on consumer prices, currencies and state debt in Latin America.
Coronavirus cases in Latin America are soaring, leaving the region with its worst recession since at least 1901. That downturn is reflected in consumer prices, with most countries now facing a rare period of disinflation as demand plunges https://t.co/nPVEesPEDO (THREAD) pic.twitter.com/XGgZkD1mtr
Data published this week for June are forecast to show year-on-year consumer price increases in Chile and Brazil holding near May’s levels while Mexico’s probably pushed just over 3% – still well within the central bank’s target range https://t.co/nPVEesPEDO pic.twitter.com/bvsbEf511B
“After 2 consecutive months of deflation, Brazil inflation is expected to have risen slightly in June, driven mostly by recovering gasoline prices,” says @dridupita. “Elsewhere, prices remains muted: core inflation readings are threading close to zero” https://t.co/nPVEesPEDO pic.twitter.com/l3FV3pLNIc
In Argentina, the debt renegotiation between the government and its main bondholders approaches its third month of official talks without an agreement in sight. The week may bring additional attempts to bridge a gap that until now has been hard to close https://t.co/nPVEesPEDO pic.twitter.com/5FA41CsI4s
A philharmonic orchestra performed to spectator-free Roman ruins in east Lebanon, after a top summer festival downsized to a single concert in a year of economic meltdown and the Covid-19 pandemic.
The Baalbek International Festival was instead beamed live on television and social media, in what its director called a message of “hope and resilience” amid ever-worsening daily woes, AFP reports.