Effects in the pocket by the economic downturn

The price of oil does not stop its fall, the contraction of the demand for commodities from China, the appreciation of the dollar.

Moreover, El Niño phenomenon, whose intensity and impact are yet to be seen, seem to set an economic storm for the region in 2016.

Although these issues cause concern to the rulers, the bad weather also impacts the pockets of households, according to Angel Melguizo, head of the Latin American unit of the Development Center of the OECD.

“There is a slowdown, yet there is no crisis. The region has made progress, but Latin America´s growth is too slow, which threatens some of the significant advances, as having 75 million less poor people than it had at the beginning of 2000,” Melguizo said (I).

Source: http://www.elcomercio.com/actualidad/efectos-bolsillo-bajon-economico.html