Remittances – money sent from migrants working abroad to families in their home countries – are a major source of income for many in Latin American and the Caribbean, representing as much as 20% of the GDP in nations such as El Salvador, Honduras, Haiti, and Jamaica. As occurred after the 2008 global financial crisis, remittances typically dry up in the wake of economic … [Read more...] about Why Remittances Soared as the Pandemic Raged
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Behavioral Economics and the Fight against COVID-19
The COVID-19 pandemic has had an immense impact on people around the world, affecting every aspect of their lives, mostly in a negative way. In Latin America and the Caribbean, most governments have made controlling the spread of the new coronavirus a principal goal. Despite investing immense effort and resources in containing transmission, however, they have been unable to … [Read more...] about Behavioral Economics and the Fight against COVID-19
Boosting Trade to Alleviate Pressures from the Russia-Ukraine Conflict
When war broke out between Russia and Ukraine at the end of February, businesses and governments in Latin America and the Caribbean worried that the war's disruptions would cause significant harm to the region's trade. What now seems clear is that rather than being deeply harmed, Latin America and the Caribbean has a significant opportunity to step in, relieve supply … [Read more...] about Boosting Trade to Alleviate Pressures from the Russia-Ukraine Conflict
From Pandemic to Inflation and War: Challenges for Policymakers in Latin America and the Caribbean
After a robust economic recovery last year from the lows of the pandemic, Latin America and the Caribbean faces strong headwinds from potential new coronavirus variants, inflation-fighting efforts in advanced economies, and the war between Russia and Ukraine that could depress world growth and even push the region into recession by 2023. Riding a wave of strong growth … [Read more...] about From Pandemic to Inflation and War: Challenges for Policymakers in Latin America and the Caribbean
What the Pandemic Revealed about the Role of Trust in Public Sector Performance
As the COVID-19 pandemic struck, public sector employees were on the front line, crucial to policies to limit the contagion and alleviate its economic effects. Collaboration—and hence trust—was essential. Whether working in public health agencies or in communications roles, public sector employees had to work together to implement decisions made at the political level. They had … [Read more...] about What the Pandemic Revealed about the Role of Trust in Public Sector Performance