Latam 8 June 19

LATAM8 Brief  Reports

 

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Latam 8 June 19

The economy seems to have touched bottom in April, but the recovery is not looking like a V-shaped one. Firstly, the lockdown continues in the Buenos Aires area and is likely to do so through July. Secondly, the government is limiting in the second half the size of the stimulus programs. Thirdly, the payment chain faces a very difficult situation with a huge stock of bounced cheques and part of the middle class’ finances severely wounded. By June still one third of the workers cannot work at national level, but that number goes to almost 50% in the Buenos Aires area, according to an official report.