In 2018, bond issuance from Latin American and the Caribbean (LAC) slowed, bond spreads widened and credit quality deteriorated. The region saw the best and the worst conditions for tapping international capital markets in 2018. In January 2018, issuers from the region placed their highest ever monthly volume of debt in international markets. On the other hand, December 2018, with no issuance recorded, was the worst December on record for LAC issuers. Bond activity in 2018 was affected by a heavy electoral calendar at the domestic level, and by U.S. interest rate hikes, withdrawal of dollar li…
The Preliminary Overview of the Economies of Latin America and the Caribbean, one of ECLAC’s most important annual reports, analyzes in its 2018 edition the economic performance of the region throughout the year, the international context and macroeconomic policies implemented by countries, while also providing an outlook for 2019.
The Latin American and Caribbean countries are facing a complex global economic scenario over the next few years, with slower growth expected in both the developed countries and the emerging economies, along with increased volatility in international financial marke…
El Balance Preliminar de las Economías de América Latina y el Caribe, uno de los informes anuales más importantes de la CEPAL, analiza en su edición 2018 el desempeño económico de la región durante el año, el contexto internacional, las políticas macroeconómicas que los países han implementado y entrega perspectivas para 2019.
Los países de América Latina y el Caribe enfrentan un escenario económico mundial complejo en los próximos años, en el cual se espera una reducción de la dinámica del crecimiento, tanto de los países desarrollados como de las economías emergentes, acompañada por un aumen…
El análisis de la situación macroeconómica de los países requiere contar, sobre todo en momentos de alta volatilidad financiera, con información oportuna del comportamiento de los flujos financieros. Sin embargo, las estadísticas de flujos de capitales de balanza de pagos se publican con un retraso de tres meses en la mayoría de los países de la región. Este documento construye, mediante dos metodologías distintas, variables sustitutivas (proxy) de los flujos de capitales para 14 países de América Latina, para las que se comprueba que guardan una estrecha correlación con las series de flujos d…
Os países da América Latina e do Caribe enfrentam um cenário econômico mundial complexo nos próximos anos, no qual se espera uma redução da dinâmica do crescimento, tanto dos países desenvolvidos como das economias emergentes, acompanhada por um aumento na volatilidade dos mercados financeiros internacionais. A isto soma-se o enfraquecimento estrutural do comércio internacional, agravado pelas tensões comerciais entre os Estados Unidos e a China.
As projeções de crescimento mundial foram reduzidas levemente, tanto para 2018 como para 2019, e prevalecem os riscos de baixa nesses prognósticos. E…
Highlights:
-In the third quarter of 2018, the U.S. economy grew at an annualized rate of 3.5% after rising 4.2% in the second quarter. Growth remained strong, but its composition deteriorated, as inventories accounted for almost two-thirds of the growth. Growth was led by consumer spending, which contributed 2.45% to growth, down from 2.6% in the second quarter, and inventories, which contributed 2.3%.
-U.S. employers added 2,268,000 jobs from January to November 2018, more jobs than in 2017.
Unemployment rate held steady at 3.7% at the end of November, the lowest level since 1969, while year…
Due to historically low internal saving rates, access to external financing is very important to Latin America and the Caribbean (LAC), even more so in the context of the 2030 Agenda and the implementation of the Sustainable Development Goals (SDGs). Public financing falls short of what is needed for this task and must be complemented with private flows, which in fact make up the bulk of the region’s external financing. The credit quality of the sovereigns in the region has an important role in determining how costly the access to private external financing can be.
This report examines the his…
The Economic Commission for Latin America and the Caribbean (ECLAC) will present on Thursday, December 20 its Preliminary Overview of the Economies of Latin America and the Caribbean 2018, in which it will update its growth estimates for the region’s countries in the present year and projections for 2019.
The report will be presented by Alicia Bárcena, ECLAC’s Executive Secretary, in a press conference at the Commission’s headquarters in Santiago, Chile, at 11:00 a.m. local time (UTC/GMT -3:00). The event will also be broadcast live on the Internet via the institution’s Web site.
The 2018 edit…
La Comisión Económica para América Latina y el Caribe (CEPAL) presentará el jueves 20 de diciembre su Balance Preliminar de las Economías de América Latina y el Caribe 2018, publicación en la que actualizará sus estimaciones de crecimiento para los países de la región en el presente año y las proyecciones para 2019.
El informe será dado a conocer en una conferencia de prensa ofrecida por Alicia Bárcena, Secretaria Ejecutiva de la CEPAL, en la sede central de esta comisión regional de las Naciones Unidas en Santiago, Chile, a las 11:00 horas locales (UTC/GMT -3:00), presentación que será transm…
A Comissão Econômica para a América Latina e o Caribe (CEPAL) divulgará na quinta-feira, 20 de dezembro o Balanço Preliminar das Economias da América Latina e do Caribe 2018, publicação em que atualizará as estimativas de crescimento para os países da Região neste ano, e as projeções para 2019.
O Relatório será apresentado em uma coletiva de imprensa pela Secretária-Executiva da CEPAL, Alicia Bárcena, na sede da Comissão em Santiago, Chile, que será realizada às 11h do Chile (12h de Brasília) e será transmitida ao vivo por videoconferência para o Escritório da CEPAL no Brasil e, também, pelo s…
This document, prepared by the Economic Commission for Latin America and the Caribbean (ECLAC) Washington Office, presents and analyzes the most recent developments (third quarter of 2018) concerning capital flows to Latin America and the Caribbean.
The main highlights are:
The Latin America and Caribbean (LAC) region has seen the best and the worst conditions for tapping international capital markets this year. In January 2018, issuers from the region placed their highest ever monthly volume of debt in international markets: US$ 32 billion. First quarter debt issuance in international markets…
The economic challenges in the Caribbean can be linked in significant measure to the region’s external vulnerability. This paper looks at trends in financial flows in the context of the region’s need to strengthen its resilience. It starts by focusing on three concepts: vulnerability, fragility and resilience-building. Vulnerability is looked at as a ‘structural’ variable, dictated by geography and reinforced by economic forces. Fragility is looked at as a ‘process’ variable, a recurring feature of the workings of the institutions, underscored by a shortage of resources, and missing systems fo…
The 2018 edition of the Economic Survey of Latin America and the Caribbean, its seventieth issue, consists of three parts. Part I outlines the region’s economic performance in 2017 and analyses trends in the early months of 2018, as well as the outlook for the rest of the year. It examines the external and domestic factors that have influenced the region’s economic performance, analyses the characteristics of economic growth, prices and the labour market, and draws attention to some of the macroeconomic policy challenges of the prevailing external conditions, amid mounting uncertainty stemming…
En su edición correspondiente a 2018, el Estudio Económico de América Latina y el Caribe presenta una síntesis del desempeño de la economía regional durante 2017 un análisis de la evolución durante los primeros meses de 2018, así como las perspectivas para el año en su conjunto. Se examinan los factores externos e internos que han incidido en el desempeño económico de la región, se analizan las características del crecimiento económico, la evolución de los precios y del mercado laboral, y se destacan las características y algunos de los desafíos para las políticas macroeconómicas en un context…
The Economic Commission for Latin America and the Caribbean (ECLAC) reviewed economic growth projections for the region for 2018 and expects an average expansion of 1.3% in Latin America and the Caribbean this year, slightly lower than that forecast this past August (1.5%). It foresees a growth rate of 1.8% for 2019, according to a press release issued today by the United Nations’ organization.
As usual, the growth dynamic across countries and subregions will vary, says ECLAC. The economies of South America, which specialize in the production of primary goods, particularly oil, minerals and f…
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