Remittances, or the money sent by migrants to their home countries, have always played a crucial role in the economies of Latin America and the Caribbean. That became particularly clear during the COVID-19 pandemic, with much of the region’s economies on life support in mid- to late 2020. Against this backdrop, remittances acted as an automatic stabilizer, supporting local … [Read more...] about Digital Finance and Pandemic Remittances
Bringing the Doctor’s Office to Your Living Room: Unlocking the Full Potential of Telemedicine
In a rapidly digitizing world, telemedicine promises to revolutionize healthcare delivery by offering remote medical services. It can lower costs, and it can expand access to underserved populations and geographically far-flung regions, not least in situations of crisis, like the COVID-19 pandemic, a natural disaster, or war. However, despite its clear benefits, … [Read more...] about Bringing the Doctor’s Office to Your Living Room: Unlocking the Full Potential of Telemedicine
Developing Domestic Bond Markets for Growth and Stability
Countries in Latin America and the Caribbean have sought to develop deep and well-functioning domestic bond markets since the beginning of the 21st century—a reaction in part to the financial crises of the 1990s and their relationship to government borrowing abroad, mainly in foreign currencies. As a result, the outstanding level of marketable public debt issued under domestic … [Read more...] about Developing Domestic Bond Markets for Growth and Stability
The Impact of Low Economic Growth and Inflation on Households: A Conversation with Eric Parrado, IDB Chief Economist
This article is part of an effort to make the concepts of our Latin American and Caribbean Macroeconomic Report, which at first sight may seem complex, more accessible to the general public. To explain what the drop in GDP suffered by Latin America and the Caribbean in 2020 as a result of the pandemic means in practical terms, Eric Parrado, Chief Economist and General … [Read more...] about The Impact of Low Economic Growth and Inflation on Households: A Conversation with Eric Parrado, IDB Chief Economist
Easing the Credit Crunch on Small and Medium-Sized Enterprises
Small and medium-sized enterprises (SMEs) comprise the overwhelming majority of formal businesses and create around half of formal employment for the average country in Latin America and the Caribbean, with that percentage rising to 80% in some cases. Yet, despite their immense importance to the economy of the region, these firms consistently struggle to get access to credit … [Read more...] about Easing the Credit Crunch on Small and Medium-Sized Enterprises