In memoriam Luiz Villela The unexpected global economic crisis caused by the coronavirus (COVID-19) will have significant economic consequences. Faced with this outlook, Latin American countries are taking steps to mitigate the situation so that its consequences do not drag on over time. Some of these measures will involve increased spending on healthcare and transfers to … [Read more...] about Ideas for Better Taxation after the COVID-19 Crisis
Fiscal Policy
Solving the State-Owned Enterprises Puzzle in Latin America and the Caribbean
The state-owned enterprise (SOEs) sector in Latin America and the Caribbean (LAC) is struggling financially and suffering from political intervention. More than 40% of such enterprises have reported annual losses for several consecutive years in the past decade. The crisis has had important, and sometimes de-stabilizing impacts in the region. For example, heavy losses at … [Read more...] about Solving the State-Owned Enterprises Puzzle in Latin America and the Caribbean
Three key G20 initiatives to promote global fiscal policy
On average, countries in Latin America and the Caribbean collect 22.8% of their GDP in taxes. Tax burden in the region is 11.4 percentage points lower than that of OECD countries (34.2% of their GDP in 2017). In addition, tax evasion prevents the collection of up to 50% of the revenues that should be raised through direct taxes. This context creates considerable budget … [Read more...] about Three key G20 initiatives to promote global fiscal policy