With a long history of recurrent and costly debt crises, Latin American governments have long sought to find a way to curb the fiscal deficits that stoke the debt problem. Those efforts gathered steam over the course of the 2000s when numerous governments in the region began adopting fiscal rules, which seek to curb politicians' ability to increase spending under political and … [Read more...] about Fiscal Rules for a Debt-Plagued Region
Martín Ardanaz
Martin Ardanaz es especialista senior de la División Fiscal (FMM) a cargo del diseño y supervisión de proyectos de fortalecimiento de la gestión y política fiscal en Perú. En complemento al trabajo operativo, lidera una una agenda de investigación aplicada en diversas áreas de finanzas públicas, incluyendo el funcionamiento de las reglas fiscales, los impactos macroeconómicos de la política fiscal, y la economía política de las reformas fiscales. Su investigación ha sido publicada en revistas especializadas como IMF Economic Review, World Development y Journal of International Money and Finance, entre otras.
Preserving Public Investment During Fiscal Adjustments
As COVID-19 struck in early 2020, governments across Latin America and the Caribbean moved decisively through transfers, credits and other means to shore up their economies and support families and firms. That swift governmental action did much to alleviate suffering. But in the midst of falling revenues, fiscal deficits increased substantially, rising on average from 3.4% of … [Read more...] about Preserving Public Investment During Fiscal Adjustments
Fiscal Policy in the Time of Coronavirus: Constraints and Policy Options for Latin American and Caribbean Countries
Latin America and the Caribbean is suffering a heavy blow as the novel coronavirus is spreading, governments are sending people home, and only a few businesses are allowed to operate. This happens against a grim backdrop of financial fragility, and a flight to quality assets in developed countries, with the resulting doubling of credit spreads in emerging markets since January … [Read more...] about Fiscal Policy in the Time of Coronavirus: Constraints and Policy Options for Latin American and Caribbean Countries