This document, prepared in the framework of the United Nations Development Account twelfth tranche residual balance (DAT12A) project “Building Urban Economic Resilience during and after COVID-19”, aims to provide a critical analysis of the challenges faced by Latin American and Caribbean countries amid the coronavirus disease (COVID-19) pandemic, and of the main elements that build economic and financial resilience. First, a detailed description of the project is given and the importance of economic and financial resilience is explained. The background and challenges in the region and the specific impact of the pandemic in Latin America and the Caribbean are then described, along with the pre-existing vulnerabilities exposed by the pandemic, particularly in the economic and social spheres. The document also presents a general overview of the regional situation in the different areas that make up resilience, providing relevant information for the countries in this regard. The conclusions and policy recommendations set forth the main challenges and priorities to be addressed by the region on the road to urban economic and financial resilience.