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
Andrew Powell
Andrew Powell is the Principal Advisor in the Research Department (RES). He holds a Ba, MPhil. and DPhil. (PhD) from the University of Oxford. Through 1994 he dedicated himself to academia in the United Kingdom as Prize Research Fellow at Nuffield College, Oxford and Associate Professor (Lecturer) at London University and the University of Warwick. In 1995, he joined the Central Bank of Argentina and was named Chief Economist in 1996. He represented Argentina as a G20/G22 deputy and as member of three G22 working groups (on crisis resolution, financial system strengthening and transparency) in the late 1990’s. In 2001, he returned to academia, joining the Universidad Torcuato Di Tella in Buenos Aires as Professor and Director of Graduate Programs in Finance. He has been a Visiting Scholar at the World Bank, IMF and Harvard University. He joined the IDB’s Research Department in 2005 as Lead Research Economist in 2008 and served as Regional Economic Advisor for the Caribbean Region until returning to the Research Department as the Principal Advisor. He has published numerous academic papers in leading economic journals in areas including commodity markets, risk management, the role of multilaterals, regulation, banking and international finance. Current projects include new papers on capital flows and corporate balance sheets, on sovereign debt restructuring and on the preferred creditor status of multilateral development banks.
On the Macroeconomics of Covid-19 and the Risks That Will Be Left in its Wake
Covid-19 has wreaked havoc in Latin America and the Caribbean. It has killed hundreds of thousands of people, destroyed livelihoods and is provoking a deep economic crisis. The New Year is a good time to take stock and try to understand the economics of the crisis. The new year may start with a hangover: The response to the crisis may leave three issues overhanging. In … [Read more...] about On the Macroeconomics of Covid-19 and the Risks That Will Be Left in its Wake
Avoiding a New Lost Decade for Latin America and the Caribbean
The Covid-19 pandemic has unleashed a health and economic crisis. Countries are providing exceptional support to families and firms and suffering significant losses in public revenues. Debt ratios are rising. Getting fiscal policy right and maintaining financial stability will be key to ensuring a return to growth and avoid a lost decade in Latin America and the Caribbean. A … [Read more...] about Avoiding a New Lost Decade for Latin America and the Caribbean
Ensuring Financial Stability in the Battle against COVID-19
With a surging pandemic, income losses, and a deepening recession, Latin America and the Caribbean is facing a health and economic crisis that will test its financial systems like few events in modern times. The blow, however, can be softened. Banks as well as governments and central banks can play a crucial role, providing financing to lessen the impact on families and firms … [Read more...] about Ensuring Financial Stability in the Battle against COVID-19
Amidst the Pandemic, A Battle for Inclusion
The year 2019 was the year anger over social issues took to the streets in Latin America and the Caribbean. Poverty and inequality in the region had fallen following the commodity boom of the 2000s, but more recent years of low growth brought that progress to a standstill. Mass frustration erupted. Amidst high youth unemployment and government-imposed adjustment programs, … [Read more...] about Amidst the Pandemic, A Battle for Inclusion