A Senior UNDP Official forecasts Latin American & Caribbean countries (LAC) may suffer disruptions to their supply chains as production of goods from China may be affected by the Covid-19 outbreak
According to the St Kitts & Nevis Observer, A senior official of the United Nations Development Programme (UNDP) forecasts that Latin America and Caribbean countries (LAC) may suffer disruptions to their supply chains, as Chinese production of goods may be affected by the Covid-19 outbreak which has killed more than 1,000 people in China.
Luis F Lopez-Calva, the UNDP Regional Director for Latin America and the Caribbean reported that “Notably, today the Chinese government announced it will delay reporting its January trade data. Commodity prices are likely to be impacted by a slowdown of the Chinese economy. Chinese oil demand, for example, is already being reported to have dropped by 20% by some news outlets,” He said that a new source of potential volatility has emerged and while it is too early to fully grasp its impact, a recent threat to the macroeconomic stability of the region, is the Covid-29 aka Coronavirus.
Additionally, he shared some hope stating that “History demonstrates in the Caribbean region, volatility is the norm and not the exception, and that the development trajectories of countries are not monotonic.
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