Ukraine will worsen existing Latin American weaknesses

Significance

Although many countries in Latin America are net food exporters, the fallout from the war in Ukraine is set to have a serious impact on a region already disproportionately affected by the COVID-19 pandemic and a decade of slowing growth.

Impacts

• The Ukraine impact will continue the reversal of improvements in social indicators seen in recent years.
• Post-pandemic, many countries will be ill placed to boost social spending to offset the blow to living standards.
• Deteriorating socioeconomic conditions will hit the prospects of recently elected governments and feed into forthcoming elections.