December 28, 2008 | By knews | Filed Under News
The weight of the economic crisis will be felt most by the lowest income households in Latin America and the Caribbean in 2009, and this will be reflected in a drop in remittances and a rise in unemployment.
This is according to the United Nations Economic Commission on Latin America and The Caribbean (ECLAC).
According to the ECLAC report on the economies of the region, the international crisis will broaden the gap between rich and poor.
Under the current circumstances, with regional growth dropping from an average 4.6 percent in 2008 to 1.9 percent in 2009, and an unemployment rate expected to rise from 7.5 percent to about 8.1 percent next year, low-income households are expected to bear the additional brunt of falling remittances and domestic prices. Read more
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