en-us	COVID-19 Pandemic and Latin America and the Caribbean: Time for Strong Policy Actions 
zh-cn	冠状病毒疫情与拉丁美洲：现在应采取强有力的政策行动 

en-us	COVID-19 is spreading very quickly. 
zh-cn	COVID-19正在迅速蔓延。

en-us	This is no longer a regional issue—it is a challenge calling for a global response. 
zh-cn	这不再是一个地区性问题——这是一个需要全球应对的挑战。

en-us	Countries in Latin America and the Caribbean have been hit later than other regions from the pandemic and therefore have a chance to flatten the curve of contagion. 
zh-cn	相比其他地区，拉丁美洲和加勒比地区的国家受疫情影响更晚，因此有机会让传染曲线变得更平缓。 

en-us	Efforts on multiple fronts to achieve this goal are underway. 
zh-cn	通过多方面措施实现这一目标的工作正在进行之中。

en-us	In addition to strengthening health policy responses, many countries in the region are taking measures of containment, including border closures, school closings, and other social distancing measures. 
zh-cn	除了加强卫生政策应对行动，该地区的许多国家还在采取防控措施，包括封闭边境、关闭学校和其他保持社交距离的措施。 

en-us	These measures, together with the world economic slowdown and disruption in supply chains, the decline in commodity prices, the contraction in tourism, and the sharp tightening of global financial conditions are bringing activity to a halt in many Latin American countries—severely damaging economic prospects. 
zh-cn	这些措施，加上世界经济增长减缓和供应链中断、大宗商品价格下跌、旅游业萎缩以及全球金融状况急剧收紧，导致许多拉丁美洲国家的经济活动停滞，经济前景受到严重破坏。

en-us	For the region, the recovery we were expecting a few months ago will not happen and a 2020 with negative growth is not an unlikely scenario. 
zh-cn	对于这一地区，我们几个月前曾预期的复苏不会出现，2020年经济负增长并非是一个不太可能出现的情景。 

en-us	Deep impact 
zh-cn	深刻影响 

en-us	The resulting increase in borrowing costs will expose financial vulnerabilities that have accumulated over years of low interest rates. 
zh-cn	借款成本的相应上升将使多年以来低利率积累起来的金融脆弱性暴露出来。

en-us	While the sharp fall in the oil price is expected to benefit the oil importing countries in the region, it will dampen investment and economic activity in countries that are heavily dependent on oil exports. 
zh-cn	尽管石油价格的大幅下跌会使该地区的石油进口国受益，但对于高度依赖石油出口的国家，其投资和经济活动将受到抑制。 

en-us	In the event of a local outbreak, service sector activity will likely be hit the hardest as a result of containment efforts and social distancing, with sectors such as tourism and hospitality, and transportation particularly affected. 
zh-cn	如果疫情在当地爆发，服务业的活动可能因防控措施和保持社交距离行为而受到最严重的冲击，旅游业、酒店业和交通行业受到的影响将尤为严重。 

en-us	Moreover, countries with weak public health infrastructures and limited fiscal space to ramp up public health services and support affected sectors and households would come under significant pressure. 
zh-cn	此外，如果一国的公共卫生基础设施薄弱，扩大公共卫生服务以及支持受影响部门和家庭的财政空间有限，那么它将面临显著压力。 

en-us	The economic impact of the pandemic is likely to vary due to regional and country-specific characteristics. 
zh-cn	疫情的经济影响可能因地区和各国国情不同而有所差异。 

en-us	South America will face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to China, Europe and the United States which are important trade partners. 
zh-cn	南美地区将出现出口收入下降，原因包括大宗商品价格下跌，以及出口量减少，特别是对中国、欧洲和美国等重要贸易伙伴的出口减少。

en-us	The sharp decline in oil prices will hit the oil exporters especially. 
zh-cn	石油价格大幅下跌将特别影响石油出口国。

en-us	The tightening of financial conditions will affect negatively the large and financially integrated economies and those with underlying vulnerabilities. 
zh-cn	金融状况的收紧将对金融一体化的大型经济体以及具有根本脆弱性的经济体产生不利影响。

en-us	Containment measures in several countries will reduce economic activity in service and manufacturing sectors for at least the next quarter, with a rebound once the epidemic is contained. 
zh-cn	一些国家的防控措施至少将在下个季度减少服务业和制造业的经济活动，疫情得到控制后，这些行业的活动将回升。 

en-us	In Central America and Mexico, a slowdown in the United States will lead to a reduction in trade, foreign direct investment, tourism flows, and remittances. 
zh-cn	美国经济的减缓将导致中美洲和墨西哥的贸易、外国直接投资、旅游流量和汇款减少。

en-us	Key agricultural exports (coffee, sugar, banana) as well as trade flows through the Panama Canal could also be adversely affected by lower global demand. 
zh-cn	主要的农产品出口（咖啡、糖、香蕉）以及通过巴拿马运河的贸易流量也将因全球需求下降而受到不利影响。

en-us	Local outbreaks will strain economic activity in the next quarter and aggravate already uncertain business conditions (especially in Mexico). 
zh-cn	当地疫情将对下个季度的经济活动造成压力，并使已经不确定的商业环境更加恶化（特别是在墨西哥）。 

en-us	In the Caribbean, lower tourism demand due to travel restrictions and “the fear factor”—even after the outbreak recedes—will weigh heavily on economic activity. 
zh-cn	在加勒比地区 ，旅游限制造成的旅游需求下降以及“恐惧因素”（即使是在疫情消退后）将严重拖累经济活动。

en-us	Commodity exporters will also be strongly impacted and a reduction in remittances is likely to add to the economic strain. 
zh-cn	大宗商品出口国也将受到严重影响，汇款的减少可能加剧经济压力。 

en-us	Policy priorities 
zh-cn	政策优先事项 

en-us	The top priority is ensuring that front-line health-related spending is available to protect people’s wellbeing, take care of the sick, and slow the spread of the virus. 
zh-cn	首要任务是确保一线卫生相关支出，以保护人民安康，救治病人，并减缓病毒传播速度。

en-us	In countries where there are limitations in health care systems, the international community must step in to help them avert a humanitarian crisis. 
zh-cn	在医疗卫生系统能力有限的国家，国际社会必须参与进来，帮助这些国家避免人道主义危机。 

en-us	In addition, targeted fiscal, monetary, and financial market measures will be key to mitigate the economic impact of the virus. 
zh-cn	此外，有针对性的财政、货币和金融市场措施是减缓病毒经济影响的关键。

en-us	Governments should use cash transfers, wage subsidies and tax relief to help affected households and businesses to confront this temporary and sudden stop in production. 
zh-cn	政府应运用现金转移、工资补贴和税收减免等方式，帮助受影响的家庭和企业应对生产的暂时和突然停顿。 

en-us	Central banks should increase monitoring, develop contingency plans, and be ready to provide ample liquidity to financial institutions, particularly those lending to small and medium sized enterprises, which may be less prepared to withstand prolonged disruptions. 
zh-cn	中央银行应加强监测，制定应急计划，并做好准备向金融机构提供充足的流动性，特别是那些贷款给中小企业的金融机构，这些企业可能更难以承受长时间的破坏。

en-us	Temporary regulatory forbearance may also be appropriate in some cases. 
zh-cn	在一些情况下，暂时的监管宽容可能也是适当的。 

en-us	Where policy space exists, broader monetary and fiscal stimulus can lift confidence and aggregate demand but would most likely be more effective when business operations begin to normalize. 
zh-cn	在具备财政空间的国家，更广泛的货币和财政刺激措施有助于提振信心和总需求，但很可能在企业运营开始恢复正常时更为有效。

en-us	Given the extensive cross-border economic linkages, the argument for a coordinated, global response to the epidemic is clear. 
zh-cn	鉴于各国之间存在广泛的跨境经济联系，显然需要在全球范围内采取协调一致的措施应对疫情。 

en-us	Countries are starting to take policy initiatives in this direction. 
zh-cn	各国已开始朝这个方向采取政策举措。

en-us	For example, additional funds are being secured for health spending in many countries including Argentina, Brazil, Colombia, and Peru. 
zh-cn	例如，包括阿根廷、巴西、哥伦比亚和秘鲁在内的许多国家正在保证额外资金用于卫生支出。

en-us	Moreover, Brazil announced an emergency economic package on March 17 that is targeted for supporting the socially vulnerable, maintenance of employment, and combatting the pandemic. 
zh-cn	此外，巴西在3月17日宣布了一揽子紧急经济计划，专门用于支持社会脆弱群体、维持就业和抗击疫情。 

en-us	For our part, the IMF stands ready to help mitigate the economic fallout from the coronavirus and we have several facilities and instruments at our disposal. 
zh-cn	国际货币基金组织随时准备提供帮助以缓解冠状病毒带来的经济影响，并且我们能够运用若干贷款机制和工具。 

en-us	In closing, I would like to iterate the importance of decisive actions by all of us to limit the economic fallout from the coronavirus and avert a humanitarian crisis. 
zh-cn	最后，我想重申，所有各方必须采取果断行动，遏制冠状病毒造成的经济影响，避免发生人道主义危机。

en-us	The Fund stands ready to assist and work with member countries in these difficult times.
zh-cn	国际货币基金组织随时准备在这一困难时期向成员国提供协助并与其开展合作。