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The Economic Commission for Latin America and the Caribbean (ECLAC) increased its projection of poverty in the region for 2022, citing economic disturbances caused by the conflict in Ukraine. Higher fuel prices and fertilizer supply problems, among the causes.
Poverty in Latin America and the Caribbean, specifically in the Dominican Republic, could reach up to 33% of the population this year, while extreme poverty is expected to reach 14.5%, partly as an indirect consequence of the war in Ukraine.
Thus it follows from a study published by ECLAC, the Latin American commission attached to the United Nationswhich specifies that the expected rates for this year represent an increase of 0.9 percentage points and 0.7 percentage points compared to 2021, respectively.
Higher fuel prices and supply problems for fertilizers and wheat caused by the Russian invasion have fueled inflation while intensifying hunger, raising doubts about the region’s growth prospects, the agency added. UN.
By countries, Among those expected to see an increase of more than one point in their poverty rate this year are Mexico, Colombia, Brazil and Paraguaythat is, the countries that contribute the most to the 7.8 million people added to the 86.4 million who already suffer from food insecurity in the region.
“These levels are markedly higher than those observed before the pandemic and make the possibility of a speedy recovery more distant,” said ECLAC’s executive secretary, Mario Cimoli.
The UN’s arm for Latin America had recently cut its regional economic growth estimates for 2022 from 2.1% to 1.8%, citing economic disruption caused by the conflict in Ukraine.
With Reuters and EFE
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