The coronavirus landed in Latin America on February 26, when Brazil confirmed a case in São Paulo. Since then, governments across the region have taken an array of actions to protect their citizens and contain COVID-19’s spread. But, per a July 26 Reuters tally, Latin America has become the region with the highest number of confirmed cases globally, accounting for more than a quarter of cases globally.

Aside from the health risks, there will be an economic impact as well. The World Bank forecasted in June that the Latin American and the Caribbean as a whole will see a GDP contraction of 7.2 percent this year. Prior to the pandemic in October 2019, the multilateral predicted GDP growth of 1.8 percent growth in 2020 for the region.

Below, AS/COA Online takes a look at measures taken and economic impact felt in Latin America.

In other parts of the Americas, of August 25, cases had been confirmed in Anguilla, Antigua and Barbuda, Aruba, the Bahamas, Barbados, Belize, Bermuda, British Virgin Islands, Belize, Cayman Islands, Canada, Curaçao, Dominica, Falkland Islands, French Guiana, Grenada, Guadeloupe, Guyana, Jamaica, Martinique, Montserrat, Saint Barthelemy, Saint Vincent and Grenadines, Sint Eustatius and Saba, St. George's, St. Kitts and Nevis, Saint Lucia, St. Marteen, St. Martin, Saint Pierre and Miquelon, Suriname, Trinidad & Tobago, Turks and Caicos Islands, Virgin Islands, and the United States.

This article was originally published on March 5 and has been updated with new information.

Argentina

Spread

Government response

Economic impact and measures

Bolivia

Spread

Government response

Economic impact and measures

Brazil

Spread

Government response

Economic impact and measures

Chile

Spread

Government response

Economic impact and measures

Colombia

Spread

Government response

Economic impact and measures

Costa Rica

Spread

Government response

Economic impact and measures

Cuba

Dominican Republic

Spread

Government response

Economic impact and measures

Ecuador

Spread

Government response

Economic impact and measures

El Salvador

Spread

Government response

Economic impact and measures

Guatemala

Spread

Government response

Economic impact and measures

Honduras

Spread

Government response

Economic impact and measures

Mexico

Spread

Government response

Economic impact and measures

Nicaragua

Spread

Government response

Economic impact and measures

Panama

Spread

Government response

Economic impact and measures

Paraguay

Spread

Government response

Economic impact and measures

Social programs : Due to Alto Paraná’s increase in cases becoming the country’s hotspot, with 40 percent of all confirmed cases and a third of the country’s COVID-19 deaths as of August 3, the government announced it would begin issuing money transfers worth roughly $72 to over 28,000 low-income inhabitants across the department’s 22 districts to provide economic relief. The Finance Ministry revealed on June 17 that the government has distributed $1.2 million to different programs under the March 16 health emergency to fight the pandemic, with $243 million of that sum going into health, education, and security services in April and May. On July 14, the Social Welfare Institute head announced that starting July 17 those who lost their jobs during the pandemic may collect a third wave of subsidy payments as part of the $100 million social welfare emergency program announced on March 26. In an expansion to the original decree, this measure now includes workers who earn more double the minimum salary. On May 13, the Development Ministry announced it would distribute an additional $4.8 million in the form of direct debit deposits to roughly 165,229 Paraguayans via the Tekoporã social welfare program, after on March 25, the government announced the Ñangareko program, involving money transfers for food and hygiene products to roughly 33,000 families whose income has been affected by quarantine.

:

Other updates : On June 22, the Central Bank cut the benchmark interest rate by 50 points to 0.75 percent, given low inflation allowing for looser monetary policy to boost the economy. On April 17, Abdo Benítez announced that the purchase of health materials bought by any company or organization shall be audited by the state. Previously, on March 30, the president announced a reduction of state salaries to save roughly $52 million. The measure decrees that no official salary should exceed $5,635 monthly—the presidential salary.

:

Peru

Spread

Government response

Economic impact and measures

Puerto Rico

Spread

Government response

Economic impact and measures

Uruguay

Spread

Government response

Economic impact and measures

Venezuela

Spread

Government response

Economic impact and measures

*Editor's note: This article previously stated that an April 14 Brazilian measure involved relaxing labor provisions for employees between the ages of 29 and 55 years old. However, the measure applied to employees between 18 and 29 and over 55.

Ernesto Aguilar, Daniela Cobos, Lee Evans, Pía Fuentealba, Diogo Ide, Luisa Leme, Maria de Lourdes Despradel, Ragnhild Melzi, and Adán Toledo have contributed to this content.