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A rough road ahead for Emmanuel Macron

In 2017, when Emmanuel Macron won 66 percent of the vote to become France's youngest-ever president, he was a relatively unknown figure in French politics. Macron, who spent most of his career as an investment banker, had never before run for office and had served only a brief stint as an advisor to former President Francois Hollande before becoming his economy minister.

An incumbent's first term in office usually defines his political identity and policy agenda. But three years into a five-year term, do we know Emmanuel Macron, what he stands for — or who he stands for — any more than we did in 2017?

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What We're Watching: Latin America's deepening recession, DRC beats Ebola, Macron's next move

Latin America's economic pain: Back in April, the International Monetary Fund (IMF) predicted that the pandemic would push Latin America into its worst recession in half a century, plunging a third of the population into poverty. That, it turns out, was the rosy view. The IMF now says, "the human toll has gone up," projecting that the region's economy will contract by 9.4 percent in 2020, a sharp drop from April's forecast of a 5.2 percent recession. Government-mandated lockdowns and travel restrictions have hit emerging market economies in the Caribbean and Latin America particularly hard because many of them rely on jobs in the informal sector and tourism industry to keep afloat. Taken with the effects of shutdowns in China, Europe, and the US, which have cratered demand for Latin America's exports while also decimating remittances, the region's economic recovery could take many years.

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