In the meantime, after greater than a decade of regular development, Latin America noticed dramatic financial contraction over the previous yr. The area’s financial system shrank an estimated 7.4 p.c, the worst downturn since 1821, when South America was nonetheless plunged in its bloody wars of independence from Spain, in response to the Inter-American Growth Financial institution’s annual report revealed in March. Greater than 100 million youngsters in Latin America could also be unable to attend college. Meals insecurity is on the rise. In Brazil, 19 million individuals, or about 1 in each 11 residents, are going hungry, the Wall Avenue Journal reported.