This IMF Working Paper examines the impact of COVID-19 on Latin America, finding that the region was hit hard in terms of both lives and livelihoods. Early lockdowns prevented a high death toll in the second quarter of 2020, but the pandemic still wreaked havoc later on. The paper investigates the dynamics of the pandemic in Latin America, including the role of non-pharmaceutical interventions, the effectiveness of lockdowns, and the structural factors that contributed to the high death toll. It also analyzes the extent to which the epidemic harmed the economy and the roots of the second waves that started in the fourth quarter of 2020. The paper is an updated version of a chapter in the IMF's October 2020 Regional Economic Outlook for Western Hemisphere.
