The LinkedIn page of José Juan Ruiz, the IDB's chief economist, shows not a photo of himself but a drawing by the iconic Spanish cartoonist Andrés Rábago, alias El Roto, depicting an exhausted traveler and emigrant draped over his suitcase, deep in sleep. "The dreams of a nation produce exiles," says the caption over the weary man. It is a fitting observation for Ruiz, a … [Read more...] about IDB Chief Economist Reflects on Region
Macroeconomics and Finance
Have Latin American Countries Become More Competitive?
Over the last two years, Latin America has experienced significant movements in nominal exchange rates. Between June 2014 and October 2015, most of the larger countries in the region —including Argentina, Brazil, Colombia, Chile, Peru and Uruguay — saw nominal depreciations of at least 15 percent. The Brazilian Real lost more than 42 percent of its value vis-à-vis the US … [Read more...] about Have Latin American Countries Become More Competitive?
Time to Act: Macroeconomic Report 2016
It’s Time to Act for Latin America and the Caribbean. The region is facing negative growth this year, some countries are facing very difficult economic conditions and others are faced with low growth that will do little to improve living conditions. How did we get here? What does the future hold? The 2016 Latin American and Caribbean Macroeconomic Report argues urgent policy … [Read more...] about Time to Act: Macroeconomic Report 2016
Preparing for Climate Change Migrants
In recent days, climate change has surged back into public consciousness with a disturbing report of rapid melting in the West Antarctic ice sheet. According to the report, the disintegration of the massive block of ice, larger than Mexico, could combine with other ice melts to raise sea levels by as much as six feet by the end of the century. That could eventually threaten … [Read more...] about Preparing for Climate Change Migrants
What Does Saving Have to Do with Resilience to Natural Disasters?
Investing in infrastructure is crucial for a country’s economic performance and growth prospects. In fact, it not only can make a difference in people’s everyday lives by providing better roads and schools, but it can actually save lives. During the last decade, Chile and Haiti provided two contrasting examples of this in the face of earthquakes due to their different levels of … [Read more...] about What Does Saving Have to Do with Resilience to Natural Disasters?