In 2021, Latin America and the Caribbean faces an economic context that remains complex and uncertain. The coronavirus disease (COVID-19) pandemic continues to impact the region, with a fresh wave of cases that has led to the implementation of new public health measures to curb the spread of the virus. Vaccination campaigns, which are a priority, have been hampered by unequal access to vaccines globally and challenges in vaccine production and distribution. Economic growth prospects are cast into even greater uncertainty by the persistence of the pandemic, the slow roll-out of vaccination campaigns and questions over the capacity to sustain expansionary fiscal and monetary policies. The Economic Commission for Latin America and the Caribbean (ECLAC) has estimated that most countries of the region will not regain pre-pandemic GDP levels before 2023.