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November Global Outlook

Global Outlook November 2020: Slow recovery ahead for Latin America and Sub-Saharan Africa

In The Economist Intelligence Unit’s (EIU) latest global outlook video, Agathe Demarais, Robert Wood and Benedict Craven discuss our latest forecasts for Latin America and Sub-Saharan Africa.

After a rebound in the third quarter, the economic recovery in Latin America is slowing down, and we expect the region’s GDP to contract by around 8% this year. Prospects are brighter for next year, but Latin American countries, on average, will recover more slowly than other emerging markets. The EIU’s Principal Economist for Latin America, Robert Wood, discusses the region’s prospects in 2021, taking a closer look at our forecasts for Brazil and Mexico.

Sub-Saharan Africa has fared less poorly than many other economies in 2020. Agrarian economies have been helped by good harvests and a number of commodities – including copper, gold and iron ore – have also performed well. However, as our Principal Economist for Sub-Saharan Africa, Benedict Craven, explains, the region’s debt problem is going to be a drag on future growth and keep many countries across the continent in survival mode.

To find out more about the political, policy and economic outlook in these countries, check out our country analysis and five-year forecasts. With detailed reports available for more than 190 countries around the world, our insights provide truly global coverage to help you to prepare for what’s ahead.