Some countries in Latin America and the Caribbean (LAC) are exploring a variety of options in their attempt to collect additional tax revenues to confront the COVID-19 emergency. With a somber forecast ahead, the region´s GDP may contract up to 6% while the fiscal deficit can climb up to 8% by the end of 2020. In this scenario, tax amnesties emerge as a way of generating … [Read more...] about Tax amnesties in times of COVID: Exceptional measures in exceptional times
Financial management operations under the COVID-19 pandemic: The Korean Experience
Due to the global spread of COVID-19, the world is now facing an unprecedented health and economic crisis. This novel virus is fundamentally changing our daily lives and working habits. Countries are facing several health, social and economic challenges to battle the pandemic and its effects while working to ensure the business continuity of the most important parts of their … [Read more...] about Financial management operations under the COVID-19 pandemic: The Korean Experience
Restoring fiscal growth and sustainability: 4 strategic measures implemented by South Korea to face the emergency and the new normal
Despite being one of the countries that had the most COVID-19 cases in early 2020, South Korea managed to control the spread of the outbreak in less than a month, and today it has a mortality rate of 0.2% with a cumulative number of positive cases that is flattening out. Added to this, it managed in a short time to stabilize the economy with an aid package equivalent to 31.2% … [Read more...] about Restoring fiscal growth and sustainability: 4 strategic measures implemented by South Korea to face the emergency and the new normal
Public investment in decarbonization: opportunities and strategies for economic recovery
Beyond the health emergency, the pandemic has dealt a severe blow to the economies of Latin America and the Caribbean. According to the World Economic Outlook report, it is estimated that our region will contract by 9.4% in 2020, which will constitute the worst recession in a long time, even deeper than that caused by the global financial crisis of 2008-09 and the debt crisis … [Read more...] about Public investment in decarbonization: opportunities and strategies for economic recovery
COVID-19 in the Caribbean: The Economic Challenges Ahead
The COVID-19 pandemic caught the world by surprise, causing an unprecedented health emergency. Caribbean countries adopted containment measures to slow the spread of the disease and flatten the curve[1] based on prior experiences and lessons around the world. Actions ranged from limits to social activities and closure of non-essential businesses, to curfew hours and complete … [Read more...] about COVID-19 in the Caribbean: The Economic Challenges Ahead