An Irish joke runs that a tourist, lost in the countryside, asks a local the way to Dublin. The Irishman ponders the question carefully and looks at the puzzled foreigner, and after a good while responds, “It’s complicated, I wouldn’t start from here.” And so it is with most sovereign debt restructurings, but does it always have to be this way? Delay risks dire consequences; … [Read more...] about Debt and Money: Tales from Greece, Argentina and Puerto Rico and the Danger of Delay
Many countries have substantial diasporas, but not many are proud of it. After all, people tend not to leave a country when it is doing well, so the diaspora is often a reminder of a country’s darker moments. El Salvador, Nicaragua, and Cuba, to cite three examples, had more than 10% of their native population living abroad in 2010. And this figure does not take into account … [Read more...] about The Diaspora Goldmine
Banks in Latin America and the Caribbean have been through a lot. At times they have been culprits and, through excessive risk-taking or fraud, provoked crises, while at other times they have been victims as fiscal profligacy and/or currency crises lead to financial disaster. In some cases, the interaction between macroeconomic policies and financial sector risks led to deep … [Read more...] about Boring Banks, Safe Economies?
By: Néstor Gandelman Does an industrial businessman in Monterrey, Mexico, save a bigger percentage of his income than a rural worker in Chiapas? Whether the rich save more is a longstanding question with important policy implications that has different answers according to each country or region. What happens in Latin America? In an analysis of 14 Latin American and Caribbean … [Read more...] about Do the Rich Save More in Latin America?
By: Matias Busso and Julian Cristia Take a moment to recall the last time you forgot someone's birthday. When was the last time you were at the grocery store and forgot that one crucial ingredient for dinner? How many times have you been locked out in the past year? A good memory is undoubtedly important for anyone. The memory of faces, names, facts and many other things … [Read more...] about Did You Get Your Shots? In Rural Communities in Guatemala a Simple Reminder Improved Health