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The forecast for the economies of the region, coincides with the slowdown expected worldwide, at the moment that the new variants of Covid-19 have become a threat to growth, inflation, debt and income inequality.
According to the bank meanwhile, rising inflation, which particularly affects low-income earners, constrains monetary policy. Globally and in advanced economies, inflation has reached the highest rates since 2008.
In emerging and developing markets, it has reached the highest rate since 2011. Consequently, to contain inflationary pressures, many emerging and developing economies have begun to withdraw support measures well before the recovery is complete.
In addition, it examined the consequences of commodity price boom and bust cycles in emerging and developing economies, most of which are heavily dependent on commodity exports.
The report highlights that these cycles were particularly intense in the last two years, when prices collapsed with the advent of COVID 19 and then rose sharply, in some cases to record highs over the past year.