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dc.title2022 Latin American and Caribbean Macroeconomic Report: From Recovery to Renaissance: Turning Crisis into Opportunity
dc.contributor.authorCavallo, Eduardo A.
dc.contributor.authorGalindo, Arturo
dc.contributor.authorNuguer, Victoria
dc.contributor.authorPowell, Andrew
dc.contributor.orgunitDepartment of Research and Chief Economist
dc.coverageLatin America and the Caribbean
dc.date.available2022-04-08T08:08:55
dc.date.issue2022-04-08T00:03:00
dc.description.abstractEconomic growth in Latin America and the Caribbean was stronger than expected in 2021 but waned at the start of 2022. High commodity prices due to the war between Russia and Ukraine will provide a boost to exporters, while imposing significant costs on commodity importers and pushing up inflation across countries. The ongoing conflict, together with policy normalization in advanced economies, carries significant risks for the region. Volatility in financial markets could depress investment and bring down growth further. Policymakers need to take urgent measures to boost inclusive growth. As minor fixes are unlikely to result in notable benefits, governments should consider more fundamental resets of policy frameworks. This report analyzes growth prospects, monetary policy, and external and financial sectors. The recommendations stress the need for a new architecture for both fiscal and labor market policies. Policymakers should seize the window of opportunity provided by the COVID-19 crisis and global security concerns to improve the outlook for the region.
dc.format.extent137
dc.identifier.doihttp://dx.doi.org/10.18235/0004180
dc.identifier.urlhttps://publications.iadb.org/publications/english/document/2022-Latin-American-and-Caribbean-Macroeconomic-Report-From-Recovery-to-Renaissance-Turning-Crisis-into-Opportunity.pdf
dc.identifier.urlhttps://publications.iadb.org/publications/spanish/document/Informe-macroeconomico-de-America-Latina-y-el-Caribe-2022-De-la-recuperacion-a-la-renovacion-Transformar-la-crisis-en-oportunidad.pdf
dc.language.isoen
dc.publisherInter-American Development Bank
dc.relation.seriesLatin American and Caribbean Macroeconomic Report
dc.subjectEconomy
dc.subjectInflation
dc.subjectCoronavirus
dc.subjectPandemics
dc.subjectRaw Material
dc.subjectEconomic Development
dc.subjectGross Domestic Product
dc.subjectInterest Rate
dc.subjectLabor
dc.subjectLabor Force
dc.subjectFiscal Policy
dc.subjectDebt Management
dc.subjectCommodity Price
dc.subjectOil Price
dc.subjectCapital Flow
dc.subjectFinancial Sector
dc.subjectLabor Market
dc.subjectInformal Economy
dc.subjectFemale Employment
dc.subjectGDP Growth
dc.subjectPoverty
dc.subjectEquality
dc.subject.jelcodeE20 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy: General
dc.subject.jelcodeE52 - Monetary Policy
dc.subject.jelcodeE58 - Central Banks and Their Policies
dc.subject.jelcodeF21 - International Investment • Long-Term Capital Movements
dc.subject.jelcodeF32 - Current Account Adjustment • Short-Term Capital Movements
dc.subject.jelcodeF34 - International Lending and Debt Problems
dc.subject.jelcodeG21 - Banks • Depository Institutions • Micro Finance Institutions • Mortgages
dc.subject.jelcodeH20 - Taxation, Subsidies, and Revenue: General
dc.subject.jelcodeH63 - Debt • Debt Management • Sovereign Debt
dc.subject.jelcodeJ20 - Demand and Supply of Labor: General
dc.subject.jelcodeJ46 - Informal Labor Markets
dc.subject.keywordsLatin America;Caribbean;Latin America and the Caribbean;Fiscal Deficit;Debt;Current Account;Trade;Oil;Brent;Banks;Financial Sector;Informality;Female Employment;Poverty;Inequality
dc.typeAnnual Reports
idb.identifier.pubnumberIDB-AN-00316
idb.operationRG-K1320
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