The
IDB and the financial crisis
1. How will the crisis affect the region?
The crisis is reducing the availability of credit to emerging
market countries and reducing demand for commodities, which are the main source
of exports from Latin America and the Caribbean. Our banking system, despite its
resilience stemming from a sound regulatory framework, has also been exposed to
the crisis because of the presence of international banks, which have been
cutting lending to the region. As a result, economic growth in the region will
be affected, meaning fewer jobs and more people are under threat of falling back
into poverty...
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| Background Data |
Fact
Sheet: Poverty scenarios for Latin America and the Caribbean
Since the 1980s, six world financial crises have hit Latin America and the Caribbean.
IDB researchers found that these crises caused per capita output to contract on average
1.4 percent annually over a two-year period. If the current crisis replicates such average,
the number of poor people in the region could rise by 7 percent, or 12.7 million by 2010,
according the IDB estimates. The number of people under extreme poverty
would rise by 7.0 million, or 9 percent.
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| May
2009
The global financial
crisis will have important negative economic effects in Latin America
and the Caribbean even if rich nations start to recover in 2010.
Multilaterals need to shift policy towards long-term lending to
support countries, IDB study says.
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Report:
Policy Trade-offs for Unprecedented Times: Confronting the Global
Crisis in Latin America and the Caribbean
Abril 2009
This report focuses on the region's macroeconomic performance in the context
of an unusually sharp and rapid deterioration in external conditions. To assess
policy options, the report developes a framework to identify the critical
trade-offs faced by countries in the region, and evaluates these trade-offs
under alternative, plausible, global economic scenarios. It identifies some of
the macroeconomic challenges and risks that policymakers face on the road ahead.
No individual country suggestions are made. Instead, the report indicates some
general policy principles that can hopefully be of use to policymakers,
including the international financial institutions engaged in the region.
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Social
and Labor Market Policies for Tumultuous Times: Confronting the
Global Crisis in Latin America and the Caribbean
By
Regalia,
Ferdinando
- Mazza,
Jacqueline, and
Duryea,
Suzanne
- April 2009
This report is devoted to the social impact of the crisis and focuses on its
effects on employment, nutrition, education, and poverty. It identifes the
mechanisms by which the crisis can affect these critical social dimensions, and
discusses possible policy responses given each country's circumstances, fiscal
space and administrative capabilities. The social challenge generated by the
crisis is not only to protect the vulnerable population, but to do so in a
fiscally sustainable manner and with programs that contribute to, rather than
retard, the resumption of growth.
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Políticas
sociales y laborales para
tiempos tumultuosos:
Cómo
enfrentar la crisis global en América Latina y el
Caribe
El presente informe se preparó con el objeto de ser presentado en la Reunión Anual de
la Asamblea de Gobernadores del Banco Interamericano de Desarrollo que tuvo lugar
en Medellín, Colombia, en marzo de 2009. También se preparó un informe complementario
titulado Dilemas de política económica en tiempos sin precedentes: Cómo enfrentar
la crisis global en América Latina y el Caribe, para ser presentado en la misma reunión.
Con estos dos informes en su conjunto se busca hacer un aporte al entendimiento de
las implicaciones sociales y macroeconómicas de la actual crisis mundial para la región
de América Latina y el Caribe, así como de las opciones y riesgos que encaran los diseñadores
de políticas en estas dos áreas críticas e interrelacionadas.
Abril 2009
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Dilemas de política
económica en tiempos
sin precedentes:
Cómo enfrentar la crisis global
en América Latina y el Caribe
Este informe se concentra en el desempeño macroeconómico de la región en el
contexto de un deterioro inusualmente marcado y brusco de las condiciones externas.
Con el objeto de evaluar las opciones de política disponibles, en este informe se desarrolla
un marco analítico para identificar los dilemas y costos asociados que enfrentan
los países de la región en esta crisis en particular y se evalúan esos dilemas ante escenarios
plausibles alternativos de la dinámica de la economía global. En el informe se
determinan algunos de los desafíos y riesgos macroeconómicos que tienen por delante
los hacedores de política. No se presenta ninguna sugerencia dirigida específicamente
a algún país en particular, sino que se sugieren algunos principios generales de políticas
que se espera resulten útiles para los hacedores de política, incluidos los organismos
financieros internacionales que actúan en la región.
Abril 2009
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What
is post-colonial thinking?
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