Latin America and the Caribbean is caught in three development traps: weak capacity for growth; high inequality and low levels of social mobility; and limited institutional capacities, along with ineffective governance. Incorporating foreign direct investment (FDI) into productive development policies could help to address these challenges. ECLAC presents the 2024 edition of the annual report Foreign Direct Investment in Latin America and the Caribbean against this backdrop.
As is the case every year, the first chapter provides an overview of global and regional FDI and identifies the main tre…
América Latina y el Caribe es una región retenida en tres trampas de desarrollo: baja capacidad para crecer, elevada desigualdad y baja movilidad social, y escasas capacidades institucionales y gobernanza poco efectiva. La inversión extranjera directa (IED) enmarcada en políticas de desarrollo productivo podría ayudar a enfrentar esos desafíos. En este contexto, la CEPAL presenta la edición 2024 de su informe anual La Inversión Extranjera Directa en América Latina y el Caribe.
Como todos los años, en el primer capítulo se ofrece un panorama de la evolución mundial y regional de la IED y se ide…
Resumen del artículo publicado en Revista CEPAL N° 142, abril de 2024. Autores: Lorenzo Nalin, Esteban Pérez Caldentey, Leonardo Rojas y Giuliano Toshiro Yajima.…
Un nuevo número de Revista CEPAL, principal publicación académica de la Comisión Económica para América Latina y el Caribe de las Naciones Unidas, ya está disponible en internet, con diez artículos de destacados profesores e investigadores sobre diversos aspectos económicos, sociales y ambientales de varios países de la región.
La edición N⁰ 142 de la revista (correspondiente a abril de 2024) puede ser descargada gratuitamente del sitio web de la CEPAL e incluye temas como el stock-flujo ecológico para Centroamérica, los efectos del cambio climático en la cuenta corriente de Colombia, y el deb…
On March 19-20, 2024, the Office of the Economic Commission for Latin America and the Caribbean (ECLAC) in Uruguay organized an international seminar and discussion on gender and macroeconomics, in cooperation with the United Nations Development Programme (UNDP), the Economics Department of the University of the Republic (UDELAR) of Uruguay, and the Young Scholars Initiative of the Institute for New Economic Thinking (YSI-INET).
The event, which took place at UDELAR’s School of Economic Sciences, featured a keynote lecture by the distinguished Professor Özlem Onaran of the University of Greenw…
El 19 y 20 de marzo de 2024, la Oficina de la Comisión Económica para América Latina y el Caribe (CEPAL) en Uruguay organizó, en cooperación con el Programa de las Naciones Unidas para el Desarrollo (PNUD), el Departamento de Economía de la Universidad de la República del Uruguay (UDELAR) y la Young Scholars Initiative del Institute for New Economic Thinking (YSI-INET), el seminario y conversatorio internacional sobre género y macroeconomía.
El encuentro, que se realizó en la Facultad de Ciencias Económicas de la UDELAR, contó con la conferencia magistral de la destacada Profesora Ozlem Onaran…
Em 19 e 20 de março de 2024, o Escritório da Comissão Econômica para a América Latina e o Caribe (CEPAL) no Uruguai, em cooperação com o Programa das Nações Unidas para o Desenvolvimento (PNUD), o Departamento de Economia da Universidade da República do Uruguai (UDELAR) e a Young Scholars Initiative do Institute for New Economic Thinking (YSI-INET), organizou o seminário e conversatório internacional sobre gênero e macroeconomia.
O encontro, que se realizou na Faculdade de Ciências Econômicas da UDELAR, contou com uma conferência magistral da destacada Professora Ozlem Onaran, da Universidade …
Latin American and Caribbean issuers placed US$ 53 billion of bonds in international markets in the first four months of 2024. This total was 61.5% higher than in the same period in 2023. The market remained open to high-yield issuers from the region, but most of the region’s issuances (69%) came from the investment grade sector. After two consecutive years in which sovereign issuances surpassed the 50% mark, corporate bond issuances in the reporting period represented 58% of the total.
The region issued US$ 13 billion in green, social, sustainability and sustainability linked bonds in interna…
In 2023, the fiscal environment in Latin America and the Caribbean reflected deteriorating global and regional microfinancial conditions. Fiscal deficits widened in Latin America as tax collection weakened owing to lower aggregate demand and falling international commodity prices. In the Caribbean, primary surpluses increased on the back of primary spending cutbacks. Public debt in the region remained high and the rise in interest payments is exerting more pressure on fiscal accounts.
Given the context of low economic growth and the increasing recognition of the key role that the public sector…
En 2023 el entorno fiscal en América Latina y el Caribe se vio influido por el deterioro de las condiciones macrofinancieras mundiales y regionales. En América Latina se profundizaron los déficits fiscales ya que la recaudación tributaria perdió dinamismo como resultado de una menor demanda agregada y la caída de los precios internacionales de las materias primas. En el Caribe se observó un incremento en los superávits primarios por un ajuste del gasto primario. La deuda pública en la región se mantuvo elevada y el alza en los pagos de intereses ejerce mayor presión sobre las cuentas fiscales.…
From 6 to 8 May, the Economic Commission for Latin America and the Caribbean (ECLAC) will host the XXXVI Regional Seminar on Fiscal Policy, a renowned international forum that has brought together leaders, specialists, civil society, and academia for 36 years to discuss fiscal policy challenges faced by countries in the region.
Leaders from the Ministries of Finance of 13 countries across the region will participate in the meeting, along with renowned experts from international organisations, academia, civil society organisations and NGOs.
The seminar will include presentations by leaders, ac…
La Comisión Económica para América Latina y el Caribe (CEPAL) celebrará del 6 al 8 de mayo la XXXVI edición del Seminario Regional de Política Fiscal, reconocido foro regional que durante 36 años ha convocado a autoridades, especialistas, sociedad civil y academia para dialogar sobre los desafíos de política fiscal que enfrentan los países de la región.
En la reunión participarán autoridades de los Ministerios de Hacienda de 13 países de la región y reconocidos expertos de organismos internacionales, academia, organizaciones de sociedad civil y organizaciones no gubernamentales.
El encuentro …
United States gross domestic product rose by 2.5% in 2023. The above-potential growth was driven by resilient consumers, supported by a strong labour market and receding inflation. In 2023, 3 million new jobs were added on an annual basis, and the unemployment rate was 3.7% at the end of December. Inflation was reduced by half relative to 2022, declining from an annual rate of 8% in 2022 to 4.1% in 2023.
Cognizant of the strength of the U.S. economy, the Federal Reserve is nevertheless adopting a “wait and see” approach rather than declaring an immediate end to its monetary tightening cycle, w…
This article presents a stock-flow consistent model for the Central American economies. It is part of a project to develop a stock-flow consistent workhorse model applicable to different country cases in Latin America and the Caribbean. The model’s logical and behavioural relationships are based on a set of stylized facts characterizing the Central American economies. The model includes five institutional sectors (consumers, firms, the government, the central bank and the rest of the world). The five sectors trade in seven financial assets: (i) public debt issued in domestic and foreign curren…
En este artículo se presenta un modelo stock-flujo consistente con un módulo ecológico para las economías centroamericanas. El modelo se basa en un conjunto de hechos estilizados. Incluye cinco sectores institucionales (consumidores, empresas, gobierno, banco central y resto del mundo) y siete activos financieros: i) deuda pública emitida en moneda nacional y extranjera, ii) deuda privada emitida en moneda nacional, iii) deuda emitida por el resto del mundo, iv) préstamos de los bancos al sector privado para inversión y crédito al consumo, v) depósitos públicos y privados, vi) préstamos del re…
Latin American and Caribbean bond issuance in international markets totalled US$ 76.4 billion in the first 10 months of 2023, rebounding from the low volumes recorded in 2022. This figure represented a 30% increase compared to the same period in 2022 and was 20% higher than the annual volume. Issuers that have been waiting for lower borrowing costs are gradually returning to the international market, as they anticipate the end to global interest rate hikes while accepting that rates may remain higher for longer.
The region issued US$ 23.2 billion in international green, social, sustainability …
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