In mid-2020, at the height of the first wave of COVID-19 infections, the IDB argued that the pandemic had particularly devastating economic effects on Latin America and the Caribbean because it had slammed the brakes on three flows that are fundamental to development: finances, people, and goods. This is what economists call a triple … [Read more...] about Why Latin America should export its way out of the crisis
As described in the most recent update to the IDB’s Trade Trend Estimates for Latin America and the Caribbean, the economic crisis triggered by the COVID-19 pandemic is increasingly affecting trade as 2020 progresses. The region is headed for a record trade shock. Latin American exports contracted by 3.2% in the first quarter of 2020 as compared to the same period in 2019, … [Read more...] about COVID-19 takes a toll on Latin American exports
The COVID-19 pandemic is bringing back the ghost of a food security crisis, similar to the one that swept the world more than a decade ago. One concern is that protectionism magnifies the negative economic effects of the confinement measures implemented to rein in the coronavirus. Although these concerns seem overstated, the agriculture sector in Latin America and the Caribbean … [Read more...] about How trade policy can help avoid a food security crisis under COVID-19?
The COVID-19 pandemic is the most challenging global crisis since the postwar, for its public health dimension as well as its economic consequences. International trade is one of the channels of contagion of the economic crisis that will strongly affect Latin America and the Caribbean (LAC). This begs several questions. Why is this crisis different? What are the channels of … [Read more...] about How exposed is Latin America to the trade effects of COVID-19?
A recent Inter-American Development Bank report, Trade Trends Estimates: Latin America and the Caribbean 2020, reveals that the value of exports from the region contracted by 2.4% in 2019 after two years of robust growth. The report forecasts that the downturn in exports will continue in the coming months due to slowing global demand, volatility of commodity markets, and … [Read more...] about Outlook for Latin American exports in 2020