After a robust economic recovery last year from the lows of the pandemic, Latin America and the Caribbean faces strong headwinds from potential new coronavirus variants, inflation-fighting efforts in advanced economies, and the war between Russia and Ukraine that could depress world growth and even push the region into recession by 2023. Riding a wave of strong growth … [Read more...] about From Pandemic to Inflation and War: Challenges for Policymakers in Latin America and the Caribbean
The last two years have been a roller coaster in terms of economic performance in Latin America and the Caribbean. As detailed in the 2021 Latin American and Caribbean Macroeconomic Report, the 7% loss in GDP in 2020 was the worst recession in a single year suffered by the region since the struggles for independence in the first half of the 19th century. By contrast, 2021 has … [Read more...] about Another Year of Living Dangerously?
On August 14, 2021, a 7.2 magnitude earthquake struck Haiti, gravely affecting the Departments of Sud, Grand'Anse, and Nippes. More than 2,200 people were killed, and houses, healthcare facilities and schools were destroyed. Rescue and relief responses were hampered by blocked roads, a 5.8 magnitude earthquake that hit the same area the very next day and subsequent aftershocks. … [Read more...] about Estimating the Potential Economic Impact of Haiti’s 2021 Earthquake
Central banks in Latin America and the Caribbean have undoubtedly been part of the solution to our current crisis. Their prompt and effective reactions were made possible by the hard-won credibility that they gained in recent years. Behind those gains is the autonomy delegated to them to formulate and implement monetary policy to achieve their primary objective of maintaining … [Read more...] about A Critical Moment for Central Bank Autonomy
It has been a traumatic year. As the COVID-19 pandemic spread around the world, hundreds of thousands of people in Latin America and the Caribbean died and the economy spun into crisis. About 7.4% of GDP was lost—the single largest recorded fall in output in a single … [Read more...] about New Report Details the Economic Risks and the Opportunities for Stronger Postpandemic Growth