The pandemic is predicted to have a significant negative impact on international trade. According to WTO projections, Latin America and the Caribbean’s exports and imports are expected to experience a pronounced decrease this year, reaching at least 13% and 22% respectively --in line with the estimates for the world. Available aggregate data confirm that the region’s trade … [Read more...] about Trade in the Time of Pandemic: How COVID-19 has impacted firms in 6 Latin American countries
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The resilience and transformation of Customs authorities during COVID-19
Over the past few months, Customs authorities in Latin America and the Caribbean have had to work hard and think outside the box in response to the COVID-19 pandemic. Tons of personal protective equipment, including masks, gowns, medical devices, medicines, and disinfectant products, as well as food and other necessities, have passed through these agencies. Those shipments … [Read more...] about The resilience and transformation of Customs authorities during COVID-19
Trade policy, key to get out of quarantine and face COVID-19
Today, more than ever, countries in Latin America and the Caribbean (LAC) need to act together in their trade policy decisions to stock up the goods and supplies they need to address the health crisis caused by COVID-19 and exit the generalized quarantine. Epidemiological models in Europe and the United States, as well as recent experiences of countries that have moved to a … [Read more...] about Trade policy, key to get out of quarantine and face COVID-19
Trade Liberalization and Diversification, key for Central America
During the 1960s, the countries of Latin America and the Caribbean opted for an economic development strategy based on trade protection. At its core, import substitution sought to protect local industries from foreign competition. Although the region’s economies grew significantly, this growth laid the foundations for the 1980 debt crisis, which was compounded by a series of … [Read more...] about Trade Liberalization and Diversification, key for Central America
Six Ways to Boost Trade between Latin America and India
The IDB recently published, in partnership with the Export–Import Bank of India (Exim Bank), a study on trade opportunities between Latin America and the Caribbean (LAC) and India. The report yielded results that are highly promising for countries and companies in both subcontinents. Bilateral trade between the two regions has increased twenty-fold in as many years, going … [Read more...] about Six Ways to Boost Trade between Latin America and India