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El Niño cuts GDP by nearly 1%
2023
Nearly -1% of GDP is the estimated cumulative loss by the sixth quarter following a strong El Niño episode for the analyzed group comprising Central America, Panama, the Dominican Republic, Colombia, Ecuador and Peru; the effect reverses before two years and small increases are observed in headline and food consumer prices.
Beltran et al. (2023)
Beltran, P., Hadzi-Vaskov, M., & Stepanov, I. (2023). Online Annex 2. El Niño's Potential Impact on Latin America. In Regional Economic Outlook: Western Hemisphere—Securing Low Inflation and Nurturing Potential Growth. International Monetary Fund. Citado en Comisión Económica para América Latina y el Caribe (CEPAL), Los efectos del fenómeno El Niño en América Latina y el Caribe y recomendaciones para enfrentarlo, Cuadro 2. https://opsaa.iica.int/en/resource-3079-the-effects-of-el-nino-in-latin-america-and-the-caribbean-and-recommendations-for-addressing-it