Commodity booms and busts are nearly as old as the discovery in Latin America of copper, coal and oil. But after the exhilarating rise of commodity prices during 2004-2012, the most recent descent, with its painful manifestations of contracting economies, fiscal deficits, currency depreciations and inflation, has struck the region particularly hard. But how hard? And why? A … [Read more...] about Riding the Commodities Roller Coaster in Latin America
IDB Chief Economist Reflects on Region
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
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
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