This overview examines the economic performance of economies of the Caribbean in 2019 and comprises four chapters. The first chapter provides a comparative analysis across Caribbean economies of the main macroeconomic variables, namely GDP growth, monetary indicators, as well as fiscal and external accounts. The second chapter looks at areas of focus in the Caribbean. The third chapter concludes, while the annex includes individual country briefs that give an overview of the economic situation for the Bahamas, Barbados, Belize, Guyana, Jamaica, Suriname and a subregional assessment of the coun…
To cope with the effects of the COVID-19 pandemic, international cooperation and multilateral financial assistance is needed. However, the liquidity available is not enough to meet financing needs on a global level. That is why subregional development banks in Latin America should take bolder measures, since they play a critical role in this area of work, Alicia Bárcena, ECLAC’s Executive Secretary, indicated today at a high-level event organized by CAF - Development Bank of Latin America in the context of its 50th anniversary.
Participants in the event, entitled Rethinking the Present and Fut…
Para hacer frente a los efectos de la pandemia del COVID-19 se requiere la cooperación internacional y la asistencia financiera multilateral. Sin embargo, la liquidez disponible es insuficiente para responder a las necesidades de financiamiento a nivel global. Por ello, los bancos de desarrollo subregionales en América Latina deben tomar medidas más audaces, ya que juegan un rol fundamental en esta tarea, indicó hoy Alicia Bárcena, Secretaria Ejecutiva de la CEPAL, en un evento de alto nivel organizado por CAF Banco de Desarrollo de América Latina en el marco de su 50⁰ aniversario.
El evento “…
The spread of the coronavirus, together with a precipitous fall in commodity prices, changed the region’s financial landscape in the first quarter of 2020.…
Highlights
• In the first quarter of 2020, the spread of the coronavirus, together with a precipitous decline in commodity prices, radically changed the financial landscape for Latin American and Caribbean (LAC) issuers. After a record breaking issuance of US$ 38 billion worth of bonds in January, bond issuance dried-up in February and March, bringing total quarterly issuance to US$ 45 billion.
• On March 26, however, Panama successfully placed a sovereign bond in cross-border markets to secure additional resources to combat the COVID-19 pandemic. It was followed in April by other four soverei…
The aim of this second Special Report is to quantify the economic impact of the pandemic in the short and medium term. With regard the short term —during the course of 2020— estimates shed light on the dynamics of production, employment, poverty and income distribution, based on data available at 17 April 2020, for all the subregions of Latin America and the Caribbean and many of their economies. The report also provides details of the main macroeconomic policy measures to tackle the effects of the pandemic that have been announced to date.
Quantifying the decline in economic activity enables …
El objetivo de este segundo Informe Especial elaborado por la Comisión Económica para América Latina y el Caribe (CEPAL) sobre la evolución y los efectos de la pandemia del COVID-19 en América Latina y el Caribe es dimensionar sus efectos económicos en el corto y mediano plazo en la región.
Para el corto plazo, es decir en el curso de 2020, se presentan estimaciones de la dinámica de la producción y el empleo con base en la información disponible al 17 de abril de 2020, que abarca todas las subregiones de América Latina y el Caribe y muchas de sus economías. Asimismo, se detallan las principal…
Highlights
• The record long U.S. economic expansion is coming to an end, as a result of the COVID-19 pandemic. Shutdowns to stem the spread of the virus have already had an impact on the economy, and are already visible in some preliminary data for March, ranging from jobless claims to factory output. The U.S. government will release its initial estimate for the first quarter of 2020 at the end of April, and a decline in growth is expected, followed by an even worse decline in the second quarter.
• Three stimulus packages were approved by the U.S. Congress in March, aiming to address the impa…
NEW YORK, 9 April 2020 – Governments must take immediate steps to prevent a potentially devastating debt crisis and address the economic and financial havoc wrought by the COVID-19 pandemic – says a new report from the United Nations-led Inter-Agency Task Force on Financing for Development.
The UN System’s 2020 Financing for Sustainable Development Report outlines measures to address the impact of the unfolding global recession and financial turmoil, especially in the world’s poorest countries. Its recommendations are based on joint research and analysis from the UN System, the International M…
NUEVA YORK, 9 de abril de 2020 – De acuerdo con un nuevo reporte del Grupo Interagencial sobre Financiamiento para el Desarrollo, liderado por las Naciones Unidas, los gobiernos deben tomar medidas inmediatas para hacer frente a los estragos económicos y financieros causados por la pandemia del COVID-19, y prevenir una crisis de deuda con efectos potencialmente devastadores.
El Informe del Financiamiento para el Desarrollo Sostenible 2020 propone una serie de medidas para paliar los efectos de la recesión global y la crisis financiera, en particular para los países de menores ingresos. Las rec…
The report Capital Flows to Latin America and the Caribbean: 2019 Year-in-Review, recently released by ECLAC’s Office in Washington D.C., reviews the main 2019 trends in capital flows to the region. According to the study, lowering global interest rates supported Latin American and Caribbean (LAC) bond activity in 2019. Borrowers enjoyed easy financing conditions, as interest rate cuts from the U.S. Federal Reserve and the European Central Bank allowed them to issue foreign currency denominated bonds at increasingly low rates.
Mexican, Brazilian and Chilean borrowers were the main contributor…
El informe Flujos de capital hacia América Latina y el Caribe. Resumen del año 2019 (disponible solo en inglés), difundido recientemente por la Oficina de la CEPAL en Washington, repasa las principales tendencias de 2019 respecto de los flujos de capital hacia la región. Según el estudio, las tasas de interés globales a la baja apoyaron la actividad de bonos en América Latina y el Caribe en 2019. Los prestatarios gozaron de condiciones de financiamiento fáciles, ya que las reducciones en las tasas de interés hechas por la Reserva Federal de los Estados Unidos y el Banco Central Europeo permiti…
O relatório Fluxos de capital para a América Latina e o Caribe. Resumo de 2019 (disponível somente em inglês), difundido recentemente pelo Escritório da CEPAL em Washington, examina as principais tendências dos fluxos de capital para a região em 2019. Segundo o estudo, as taxas de juros globais em queda apoiaram a emissão de títulos da América Latina e do Caribe em 2019. Os mutuários desfrutaram de condições de financiamento fáceis, já que as reduções nas taxas de juros feitas pela Reserva Federal dos Estados Unidos e pelo Banco Central Europeu permitiram que emitissem títulos denominados em m…
These are the main highlights of the Capital Flows to Latin America 2019 Year-in-Review edition:
• In 2019, international bond issuance from Latin America and the Caribbean (LAC) increased and bond spreads tightened, but credit quality continued to deteriorate although at a slower pace relative to 2018.
• Lowering global interest rates brought issuance volume up in the region. Total LAC debt issuance in international markets in 2019 was US$ 119 billion, 26% higher than in 2018.
• Mexican, Brazilian and Chilean borrowers were the main contributors to the region’s performance. Together they were…
En el presente documento se hace un balance preliminar de las economías de Centroamérica (Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua y Panamá) y la República Dominicana (CARD) en 2019 y se ofrecen perspectivas para 2020. Es un análisis de coyuntura elaborado por la Unidad de Desarrollo Económico de la Sede subregional de la Comisión Económica para América Latina y el Caribe (CEPAL) en México, con información disponible al 31 de enero de 2020.…
Este Balanço Preliminar das Economias da América Latina e do Caribe vem à luz num contexto econômico e social extremamente complexo para a região. A América Latina apresenta desaceleração econômica generalizada e sincronizada nos países e nos diversos setores. Em 2019, contrastando com anos anteriores, 18 dos 20 países da América Latina, bem como 23 das 33 economias da América Latina e do Caribe, apresentam desaceleração na taxa de crescimento da atividade econômica. O menor dinamismo da demanda interna foi acompanhado por baixa demanda agregada externa e mercados financeiros internacionais ma…
This paper describes the dimensions and activities of the asset management industry in the United States locating the industry in the global context. It also discusses the evolution of asset management strategies utilized by the industry, setting up the discussion of the potential risks associated with this set of strategies and identifies the potential risks to the industry and explore the overall risks they raise for the global financial system. Finally, it provides regulatory responses to deal with these potential problems and briefly summarizes some suggested modifications of regulations t…
Este estudo analisa quais alterações nos instrumentos financeiros são recomendadas ou foram feitas para viabilizar uma expansão dos investimentos com maior participação do setor privado no financiamento de projetos. Tais alterações podem ser na legislação de debêntures de infraestrutura, na tributação de instrumentos de renda fixa, nas normas da Comissão de Valores Mobiliários (CVM) para os fundos de investimento ou nas práticas de mercado de cofinanciamento de projetos.…
Highlights
• In the third quarter of 2019, the U.S. economy grew at a 2.1% annualized rate. Growth was driven by consumer and government spending, and a buildup in inventories.
• The third quarter of 2019 was the 41st consecutive quarter of growth and November the 125th month of consecutive growth for the U.S. economy. The current expansion is the longest on record.
• The Federal Open Market Committee (FOMC) cut the federal funds rate three times this year, in July, September and October, due to slowing global growth and trade uncertainty, contributing to diminish recession fears. Federal Rese…
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