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
From Structures to Services: A New Vision for Infrastructure
Over the last 15 years, Latin America and the Caribbean has made substantial progress in expanding the reach of its infrastructure. Tens of millions of people were connected to clean water grids for the first time, and access to electricity became nearly universal, with low-income and peri-urban areas able to experience the novel pleasure of turning on the lights or running a … [Read more...] about From Structures to Services: A New Vision for Infrastructure
Covid-19 and the Deglobalization of Banking
The Financial Times recently reported a sharp drop of lending from US banks to European countries.[1] But this is best characterized as part of a wider deglobalization process. As national authorities urge banks to lend to firms within their borders and provide liquidity and guarantees for them to do so, global players are becoming less global. The syndicated loan market is … [Read more...] about Covid-19 and the Deglobalization of Banking