Latin America and the Caribbean will see the worst economic contraction the region has ever undergone this year due to the novel coronavirus pandemic, a UN agency said Tuesday.   

The Chile-based Economic Commission for Latin America and the Caribbean (ECLAC) warned in its latest report that the number of unemployed in the region will reach 37.7 million in 2020. 

It said that according to the latest estimates, an average regional contraction of -5.3% is forecast for this year.

“To find a contraction of comparable magnitude, one must go back to the Great Depression of 1930 (-5%) or even

Read more: COVID-19 to slam Latin American economies: ECLAC