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dc.title2024 Latin American and Caribbean Macroeconomic Report: Ready for Take-Off? Building on Macroeconomic Stability for Growth
dc.contributor.authorGalindo, Arturo
dc.contributor.authorIzquierdo, Alejandro
dc.contributor.orgunitDepartment of Research and Chief Economist
dc.coverageLatin America and the Caribbean
dc.date.available2024-03-11T09:06:53
dc.date.issue2024-03-11T00:03:00
dc.description.abstractLatin America and the Caribbean overcame significant economic challenges in 2023 and exceeded growth expectations thanks to the strong macroeconomic fundamentals it laid in recent years. The region was able to cut inflation through large interest rate hikes and unwind steep spending increases it had undertaken due to COVID-19a marked departure from previous crises where expansionary measures proved stubborn to reverse. To build on this success, countries now face additional challenges: lowering interest rates without triggering significant capital outflows, exchange rate depreciation, and an increase in inflation; reducing fiscal imbalances due to higher global interest rates in a politically charged context; and the daunting task of implementing far-reaching reforms to tackle low productivity and set the course for long-term growth. As countries chart their path forward, they can capitalize on their rich natural endowments-from renewable energy sources to minerals and food-to grow their economies on the road toward net-zero emissions. The 2024 Latin America and Caribbean Macroeconomic Report analyzes the opportunities and challenges facing the region as it embarks on this journey.
dc.format.extent112
dc.identifier.doihttp://dx.doi.org/10.18235/0005667
dc.identifier.urlhttps://publications.iadb.org/publications/english/document/2024-Latin-American-and-Caribbean-Macroeconomic-Report-Ready-for-Take-Off-Building-on-Macroeconomic-Stability-for-Growth.pdf
dc.identifier.urlhttps://publications.iadb.org/publications/spanish/document/Informe-macroeconomico-de-America-Latina-y-el-Caribe-2024-Listos-para-despegar-Aprovechar-la-estabilidad-macroeconomica-para-el-crecimiento.pdf
dc.identifier.urlhttps://publications.iadb.org/publications/portuguese/document/Relatorio-macroeconomico-da-America-Latina-e-Caribe-2024-Pronto-para-decolar-Aproveitando-a-estabilidade-macroeconomica-para-o-crescimento.pdf
dc.language.isoen
dc.publisherInter-American Development Bank
dc.relation.seriesLatin American and Caribbean Macroeconomic Report
dc.subjectInflation
dc.subjectProductivity
dc.subjectEconomy
dc.subjectMonetary Policy
dc.subjectGross Domestic Product
dc.subjectEconomic Stabilization
dc.subjectInterest Rate
dc.subjectLabor Force
dc.subjectFinancial Policy
dc.subjectMacroeconomic Policy
dc.subjectMacroeconomy
dc.subjectProductivity Level
dc.subjectHuman Capital
dc.subjectClean Energy
dc.subjectFiscal Policy
dc.subject.jelcodeE31 - Price Level • Inflation • Deflation
dc.subject.jelcodeE32 - Business Fluctuations • Cycles
dc.subject.jelcodeE44 - Financial Markets and the Macroeconomy
dc.subject.jelcodeE52 - Monetary Policy
dc.subject.jelcodeE62 - Fiscal Policy
dc.subject.jelcodeF43 - Economic Growth of Open Economies
dc.subject.jelcodeG15 - International Financial Markets
dc.subject.jelcodeO47 - Empirical Studies of Economic Growth • Aggregate Productivity • Cross-Country Output Convergence
dc.typeAnnual Reports
idb.identifier.pubnumberIDB-AN-00367
idb.operationRG-K1320
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