The destruction was colossal, the after-shocks harrowing. Nepal's April 25th earthquake, measuring 7.8 on the Richter scale, leveled large parts of the country, reduced ancient city centers and mud-brick villages to rubble, and left much of the nation in chaos. More than 5,000 people died, more than 10,000 were injured, and tens of thousands lost their homes. Nations from … [Read more...] about Foreign Aid for Disasters: Never Enough
What Good Is Capital Without Customers?
Financial inclusion is necessary for healthy societies The financial inclusion strategies that several countries in Latin America and the Caribbean are adopting and incorporating into their national development policies aim at increasing access to and use of financial services for segments of the population that have been excluded or underserved by financial systems. … [Read more...] about What Good Is Capital Without Customers?
Four Ways to Adjust Painlessly
The word “adjustment” in Latin America means different things to different people. The term “painless” adjustment may strike some as populist while others may perceive it as naive. But the fact is that, as shown in the IDB’s recently published Latin American and Caribbean Macroeconomic Report, in many countries making a fiscal adjustment is a good idea. Exploring ways to make … [Read more...] about Four Ways to Adjust Painlessly
Joseph and the Seven Cows: A Parable for Latin America and the Caribbean
The fiscal outlook for Latin America and the Caribbean is reminiscent of the story of Joseph, arguably the first documented fiscal policy advisor in the history of civilization. Asked to interpret the famous Egyptian Pharaoh’s dream, in which seven ugly and gaunt cows devoured seven fine and fat cows, Joseph predicted seven years of abundance to be followed by seven years of … [Read more...] about Joseph and the Seven Cows: A Parable for Latin America and the Caribbean
Does Facebook Conspire against Happiness?
What's the key to happiness? How can we become as happy as those who live in Nordic countries -“the happiest in the world" - according to the United Nations' World Happiness Report 2013? One of the keys is not comparing ourselves to everyone else. Improving people's quality of life and their happiness is not easy. Happiness depends on many factors that are often beyond the … [Read more...] about Does Facebook Conspire against Happiness?