En este documento se presenta un balance preliminar de las economías de Centroamérica (Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua y Panamá) y la República Dominicana (CARD) en 2022 y se presentan las perspectivas para 2023. 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 2023.…
Latin American and Caribbean issuers placed US$ 64 billion in bonds on international bond markets in 2022, the smallest annual amount since 2008. In January 2023, sovereign and corporate bond issuers from the region placed almost US$ 17 billion in international bonds, a sizable improvement from the last few months of 2022, but a weaker January issuance than in previous years.
The region’s international bond issuance of green, social, sustainability and sustainability-linked (GSSS) bonds followed the broader market trend of declining bond activity owing to worsening macroeconomic conditions. Th…
Los países de América Latina y el Caribe enfrentan un panorama económico desafiante en 2023. En el frente externo se espera una mayor desaceleración tanto del crecimiento como del comercio mundial, precios de productos básicos más bajos que en 2022 y condiciones financieras a nivel mundial que seguirán influidas por la aversión al riesgo y las políticas monetarias restrictivas en los países desarrollados.…
This survey examines the economic performance of economies of the Caribbean in 2021 and the first few months of 2022 and comprises five chapters. The first chapter gives an overview of global, regional and subregional economic performance in the Caribbean. The second provides an analysis of the subregion’s fiscal performance and debt burden. The third looks at monetary policy and their impacts. The fourth is focused on the external sector, while the fifth concludes.…
En este libro se presenta un análisis comparativo de las respuestas de política de los países en desarrollo de África, Asia y América Latina y el Caribe a los retos que una mayor apertura financiera externa y la flexibilidad de los precios y el tipo de cambio plantean a la estabilidad económica. La mayor apertura externa ha reducido considerablemente el margen normativo de las economías en desarrollo y, al mismo tiempo, ha aumentado el potencial de fragilidad e inestabilidad financieras. Estos retos, que han pasado a un primer plano desde la crisis financiera mundial de 2008-2009, también se m…
The Joint Program “Support for the development of an Integrated National Financing Framework for the SDGs in Cuba” (CIFFRA) is part of the more than 60 experiences implemented worldwide to finance the 2030 Agenda under the global framework agreed upon by world leaders in Addis Ababa, Ethiopia in 2015. CIFFRA is part of the initiatives funded by the Joint SDG Fund of the United Nations System (Joint SDG Fund).
CIFFRA Policy Notes represent an effort by the project's Technical Committee to document, executively, its main progress, results and messages. This first note is dedicated t…
This overview examines the economic performance of economies of the Caribbean in 2021 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 concludes, while the annex includes individual country briefs that give an overview of the economic situation for the Bahamas, Barbados, Belize, Guyana, Jamaica, Suriname, Trinidad and Tobago, and a subregional assessment of the countries of the Eastern Caribbean Currenc…
This book presents a comparative analysis of the policy responses of developing countries in Africa, Asia and Latin America and the Caribbean to the challenges that greater external financial openness and price and exchange-rate flexibility pose to economic stability. Greater external openness has significantly narrowed developing economies’ policy space, while at the same time increasing the potential for financial fragility and instability. These challenges, which have come to the fore since the global financial crisis of 2008–2009, are also manifest in the profound impact of the COVID-19 pa…
Los bonos de impacto son un innovador mecanismo de financiamiento que busca atraer inversión privada hacia políticas públicas sociales, con énfasis en intervenciones preventivas o de atención temprana parala salud, la educación y la administración de justicia. Asimismo, ofrecen la posibilidad de compartir algunos de los riesgos inherentes a la innovación de políticas, y su financiamiento, con inversionistas privados.
Destacando el potencial de los bonos de impacto como un mecanismo para encontrar soluciones innovadoras a los desafíos de la política social, este documento evalúa el papel de los…
United States trade in goods sustained the recovery that began in 2021. In the first six months of 2022, goods exports increased by 21% compared to the prior-year period, while goods imports rose by 22%. Trade in services has not fully recovered, as major service industries such as travel and transport are still experiencing the lingering effects of the COVID-19 pandemic.
United States-Latin America and the Caribbean Trade Developments 2022 provides an overview of selected developments in trade relations between the United States and Latin America and the Caribbean. In light of the global focu…
The United States economy grew by 2.9% in the third quarter of 2022, a sharp turnaround following two quarters of contraction. Trade was the main source of growth, followed by consumer spending. The labour market averaged 392,000 new jobs per month from January–November 2022, with 4.3 million new jobs created in the period. Inflation rose by 7.1% in November, the slowest 12-month pace since December 2021, closing out a year in which it climbed to the highest level in four decades. The rapid pace of price increases in 2022 added pressure on the Federal Reserve to tame inflation by raising inter…
In a context of external uncertainties and domestic restrictions, the countries of Latin America and the Caribbean will grow by 3.7% in 2022, just over half of the 6.7% rate recorded in 2021. It is estimated that the deceleration in economic growth will intensify in 2023, giving rise to a 1.3% rate.
According to its Preliminary Overview of the Economies of Latin America and the Caribbean 2022 – unveiled by the Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC), José Manuel Salazar-Xirinachs – the monetary policy responses adopted worldwide in 2022, in a …
En un contexto de incertidumbres externas y restricciones internas, los países de América Latina y el Caribe crecerán un 3,7% en 2022, poco más de la mitad de la tasa del 6,7% registrada en 2021. Se estima que en 2023 se profundice la desaceleración del crecimiento económico y se alcance una tasa del 1,3%.
De acuerdo con el Balance Preliminar de las Economías de América Latina y el Caribe 2022, dado a conocer por el Secretario Ejecutivo de la Comisión Económica para América Latina y el Caribe (CEPAL), José Manuel Salazar-Xirinachs, las respuestas de política monetaria adoptadas a nivel …
Num contexto de incertezas externas e restrições internas, os países da região crescerão 3,7% em 2022, pouco mais da metade da taxa de 6,7% registrada em 2021. Estima-se que em 2023 se aprofunde a desaceleração do crescimento econômico e se alcance uma taxa de 1,3%.
De acordo com o Balanço Preliminar das Economias da América Latina e do Caribe 2022, divulgado pelo Secretário Executivo da Comissão Econômica para a América Latina e o Caribe (CEPAL), José Manuel Salazar-Xirinachs, as respostas de política monetária adotadas mundialmente em 2022, num contexto de aumento da inflação global, provoca…
The 2022 edition of Preliminary Overview of the Economies of Latin America and the Caribbean examines the behavior of the region’s economies over the current year and updates estimates for growth and other economic indicators that reflect the impact of the COVID-19 crisis on the region’s countries along with their subsequent recovery. Specifically, this annual report presents new Gross Domestic Product (GDP) estimates for the region and all of its countries in 2022 as well as projections for 2023. The document analyzes the economic and social dynamics of the year that is about to end and discu…
A atividade econômica da América Latina e do Caribe em 2022 apresenta uma taxa de crescimento superior à esperada durante o primeiro semestre do ano e desaceleração durante o segundo semestre. A desaceleração observada na segunda metade de 2022 se manterá em 2023, permitindo prever que no próximo ano a taxa de crescimento será significativamente menor que a de 2022.…
Against a backdrop of tightening global financing conditions and higher global borrowing costs, Latin American and Caribbean issuers placed US$ 58.5 billion in bonds on international markets from January to October 2022, around 60% less than in the same period of 2021, with an average coupon almost 1.5% higher. The region’s international issuance of environmental, social and governance (ESG) bonds followed the broader market downturn in bond activity, particularly in the corporate sector, owing to worse macroeconomic conditions; however, it showed some resilience, slowing less markedly than ov…
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